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Remarks on Multiemployer Pension Reform by Congressman John Kline
Committee on Education and the Workforce, U.S. House of Representatives Link to more items from this source
May 1, 2014
"The multiemployer pension system is a ticking time bomb that will inflict a lot of pain on homes and workplaces. According to the best information available, multiemployer plans have $818 billion in benefit liabilities yet only $397 billion in assets, which means collectively plans face a $421 billion funding shortfall. The [PBGC] warns its multiemployer pension program will be insolvent in fewer than 10 years, thanks to more obligations and fewer resources.... If we do nothing, benefits will be cut. Let me repeat that: If we do nothing, benefits will be cut. It's only a question of when and by whom."

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