Insurer Warns Some Pooled Pensions Are Beyond Recovery [1]
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.