The Financial Status of Private Sector Multiemployer Pension Plans

Alicia Munnell and Jean-Pierre Aubry

Issues in Brief from Center for Retirement Research

Abstract: The brief’s key findings are: *While most multiemployer pension plans are finding their financial footing, a substantial minority face serious problems. *The key reason is a declining financial base, which results in negative cash flow. *Plans deemed in “critical” condition can raise contributions, cut future benefits, and/or cut “adjustable” benefits that apply to retirees as well as active workers. *To date, plans have focused on raising contributions and cutting adjustable benefits, with less emphasis on cutting benefit accruals for active workers. *Nevertheless, a simple model suggests that one third of “critical” plans could exhaust their assets within 30 years.

Pages: 12 pages
Date: 2014-09
New Economics Papers: this item is included in nep-age
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