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Text of Testimony by PBGC Director Before Congress on the Multiemployer Pension System (PDF)
Pension Benefit Guaranty Corporation [PBGC] 
[Opinion] Dec. 19, 2012
"After all the events of the past decade, the financial health of these plans varies widely. The majority are recovering, in part by relying on the tools and authorities provided to plans under the Pension Protection Act of 2006 (PPA) and subsequent legislation, as the economy and the financial markets improve. Some plans, however, lack the necessary economic base and will not, absent changes, be able to avoid eventual insolvency. As a result, PBGC's multiemployer insurance program will need a fresh look."
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