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Text of PBGC Report to Congress: Multiemployer Fund Likely to Be Exhausted by 2025 (PDF)
Pension Benefit Guaranty Corporation [PBGC] 
Apr. 1, 2016 "PBGC projects that current premiums ultimately will be inadequate to maintain benefit guarantee levels.... The multiemployer program had a net deficit of $42.4 billion as of the end of FY 2014, the result of liabilities of $44.2 billion and assets of $1.8 billion.... "[There is more than a 40 percent likelihood that the assets of PBGC's multiemployer insurance program will be exhausted by 2024 (43% if no plans elect to suspend or partition, 41% using best estimate assumptions of future suspensions and partitions) and over a 90 percent likelihood of exhaustion by the end of the projection period (93% if no plans elect to suspend or partition, 92% using best estimate assumptions of future suspensions and partitions). "It is more likely than not that PBGC's multiemployer fund will be exhausted by 2025, whether or not plans make use of suspension and partition." MORE >> |
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