"Failure to extend the PPA would have 'detrimental effects' on both multiemployer plans that are operating under recovery programs, and those that might eventually need to do so, the [American Academy of Actuaries' Pension Practice Council] says.... It cites several challenges driving the need for a more robust successor multiemployer plan funding regime, including: [1] The exhaustion of funds that faces the most severely underfunded plans.... [2] Financial jeopardy for the PBGC's multiemployer insurance program itself, caused by the looming insolvency of many multiemployer plans and PBGC's current deficit."  MORE >>