Underfunded multiemployer pension plans could negatively impact the Pension Benefit Guaranty Corporation's multiemployer insurance fund.
A report by the Government Accountability Office in March 2013 found that while the most severely distressed multiemployer plans have taken significant steps to address their funding problems and most expected improved financial health, some did not.
The majority of underfunded plans took steps to alleviate the financial concerns of their plans, like asking employees to contribute more to their plans or reducing or eliminating benefits like disability.
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