The federal pension insurer expects its multiemployer arm to go bankrupt in 2026, extending by one year a projected collapse that remains unresolved on Capitol Hill.
The Pension Benefit Guaranty Corporation’s latest annual report credits a last-minute reprieve for coal miners rolled into 2019’s end-of-year spending bill with the miniscule improvement, but all signs still point to underfunded multiemployer plans overwhelming PBGC resources in the near future.
The agency released its 10-year projections in September with a near identical outlook. Thursday’s report reflects the state of the pension system now.
“It remains clear that legislative reform is necessary to avert ...
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