Current premiums paid by beneficiaries in multiemployer pension plans are not enough to sustain the Pension Benefit Guaranty Corp.'s multiemployer insurance program, according to a report the agency is required to file with Congress every five years.
In 2016, enrollees pay a $27 per-participant premium. The Multiemployer Pension Reform Act of 2014 doubled premiums to $26 for 2015.
PBGC's 2014 projections report estimated that the agency's premium levels and returns on assets will be enough to sustain the multiemployer program for the next five to nine years.
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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.
