Why You Should Care About the Multiemployer Pension Crisis – U.S. Chamber of Commerce

Currently, ‎over one million retirees in multiemployer plans are in danger of losing benefits because the plans that pay them will go bankrupt. In addition, the federal agency that acts as a backstop — the Pension Benefit Guaranty Corporation — is also in danger of bankruptcy. Without a resolution to this crisis, there could be millions lost in retirement benefits. This loss alone will put a strain on local economies where these retirees will have less money for consumption and some may be forced to rely on state assistance.