In 2018, PBGC’s multiemployer program collected $292 million in premium income, the most it has collected in the past decade, and 300 percent more than was collected in 2009. (Photo: Shutterstock)

President Trump’s Fiscal Year 2020 budget would raise premiums that collectively bargained retirement plans pay to the Pension Benefit Guaranty Corp. by $18 billion over 10 years.

PBGC, which separately insures multiemployer and single-employer defined benefit plans in the private sector, faces a $54 billion funding deficit in its multiemployer program, and is expected to run out of cash reserves at the end of 2025.

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Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.

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