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St. Charles, IL Chicago, IL Office Davenport, IA Office Minneapolis, MN Office Milwaukee, WI Office
St. Charles, IL Chicago, IL Office Davenport, IA Office Minneapolis, MN Office Milwaukee, WI Office

Posts tagged "Multi Employer Pension Plans"

"Every Chicken Comes Home to Roost"

While the above title is really the restatement of a very old Farmer's Almanac comment, it has particular application for what is taking place with regard to Multi-Employer Pension Plans throughout the United States. An analysis of the Multi-Employer Pension Plan Funding Crisis that was released on or about November 1, 2018 by the Actuarial Consulting Firm Cheiron, Inc., claims that 121 of the current Multi-Employer Pension Plans are underfunded by approximately 49 billion dollars. This is an increase of approximately seven (7) Plans from the previous year, with an underfunding in 2017 of 36.4 billion - a 13.4 billion dollar increase in 2017 versus 2018! The Plan that faces the biggest deficit continues to be the Central States Pension Fund, which provides Retirement Benefits for more than 400,000 Teamsters and is currently 22.9 billion dollars in the hole.

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