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Home > Insurer Warns Some Pooled Pensions Are Beyond Recovery

Insurer Warns Some Pooled Pensions Are Beyond Recovery [1]

Mary Williams Walsh
The New York Times
July 1, 2014
View the original piece [2]

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 [3] that some plans are now in their death throes and cannot recover.

Click here [2] to read more at The New York Times.

Issues: 
Pension and Benefits [4]

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Source URL: http://www.tdu.org/media/insurer-warns-some-pooled-pensions-are-beyond-recovery

Links:
[1] http://www.tdu.org/media/insurer-warns-some-pooled-pensions-are-beyond-recovery
[2] http://dealbook.nytimes.com/2014/06/30/u-s-pension-insurer-issues-dire-warning-on-pooled-plans/?_php=true&_type=blogs&_r=0
[3] http://www.pbgc.gov/documents/Projections-report-2013.pdf
[4] http://www.tdu.org/issues/pension-and-benefits