Insurer Warns Some Pooled Pensions Are Beyond Recovery

Mary Williams Walsh
The New York Times
July 01, 2014

More than a million people risk losing their federally insured pensions in just a few years despite recent stock market gains and a strengthening economy, a new government study said on Monday.

The people at risk have earned pensions in multiemployer plans, in which many companies band together with a union to provide benefits under collective bargaining. Such pensions were long considered exceptionally safe, but the Pension Benefit Guaranty Corporation reported in its study that some plans are now in their death throes and cannot recover.

Click here to read more at The New York Times.

Get Advice Join TDU Donate

Recent News

Call Congress: Demand Protection for Frontline Workers

Unions and public allies are coming together this week to tell Congress to protect frontline workers by requiring employers to provide protections to workers to prevent COVID-19 exposure in the workplace. You can help by making a phone call today.

Kroger Finally Agrees to $2 per Hour Hazard Pay

Kroger finally joined the bulk of the food distribution and retail industry in raising pay by $2 per hour for at least the next three weeks. The move came on March 31, one week after TDU exposed Kroger’s failure to join most similar companies in a $2 raise for front-line essential workers.

View More News Posts