The massive deficit in the Pension Benefit Guaranty Corp.'s multiemployer insurance program exploded by $11.3 billion in fiscal year 2019, reaching a record deficit of $65.2 billion.
The moribund program that insures the pensions of 1,400 collectively bargained defined benefit pensions plans covering 10.8 million workers and retirees is projected to be insolvent by 2025.
Recommended For You
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.