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Senate 'Loan' Bill Is a Poorly Disguised Bailout for Private Pensions
The Heritage Foundation [Opinion] Mar. 12, 2018
"Do we want government to encourage private employers and unions to promise workers more than they can afford and then fail to set aside the money necessary to meet those promises? Because that's exactly what this proposal would do -- encourage the same reckless behavior that contributed to the $500 billion shortfall faced by roughly 1,300 multi-employer pension plans today. Unlike loans made in the private sector, which happen only where a legitimate expectation of repayment (and a risk-compensating interest rate) can be established, loans to insolvent pension plans would have a high expectation of default."
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