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Multiemployer pension plans aren't in a good place—if help doesn't come soon, says a new study, 117 of them could fail within the next 20 years.
Actuarial consulting firm Cheiron Inc. finds that, according to the latest annual financial reports filed by multiemployer pension plans with regulators, up to 117 of those plans—serving some 1.4 million participants—are underfunded to the tune of $56.5 billion dollars, and have told regulators that they don't have enough money to pay promised benefits.
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Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
