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PBGC Director Says Failed Multiemployer Plan Members May Receive Only Fraction of PBGC Minimum
Chief Investment Officer [CIO] 
May 30, 2018
"When asked if the PBGC would be able provide the minimum guaranteed benefit to failed plan members without congressional action, [PBGC Director Thomas Reeder] said 'no,' adding that the PBGC would have to cut it to about one-eighth the minimum benefit, or less.... Reeder said that without help from Congress, propping up the PBGC could cost taxpayers $16 billion over 10 years, and that would only keep the organization going for another 20 years."
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