The Pension Benefit Guaranty Corp. on Monday announced a new deficit projection of about $42 billion in its troubled multiemployer plan, a nearly five-fold increase over last year's estimate.
The deficit in its single-employer plan amounted to slightly more than $19 million.
The news reignited the debate over whether PBGC premiums in its MEP program are high enough, as well as calls by business interests for Congress to help find a solution.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
