Government Admits It Can’t Fully Guarantee 51% Of Insolvent Pension Plans
by Tyler Durden
ZeroHedge.com
03/12/2015
A new report suggests that the government agency in charge of backstopping private-sector pension plans (the Pension Benefit Guaranty Corporation) isn’t entirely optimistic about its own ability to provide an effective safety net for multiemployer plans. In fact, more than half of participants will see their benefits cut if their plans become insolvent and are forced to turn to government guarantees.
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