The Pension Benefit Guaranty Corporation’s Multiemployer
Insurance Program is close to collapse, while its Single-Employer
Insurance Program continues to improve. We discuss implications and
predictions for both programs over the coming years.
In Depth
The Pension Benefit Guaranty Corporation (PBGC) recently issued
a press release announcing that
the Multiemployer Insurance Program remains in a dire financial
condition, nearing insolvency. The agency’s insurance program
for multiemployer pensions, covering more than 10 million people,
will likely run out of money by the end of fiscal year 2025,
according to the FY 2018 Projections Report. On the other hand, the
PBGC’s projection for the Single-Employer Program shows
continued improvement. However, these positive projections are
subject to a range of potential outcomes due to the Program’s
sensitivity to economic conditions.
