As a number of Clients of the Firm would state, over the last ten (10) years, the author has been advising them to get out of/not participate in the Unions' Multi-Employer Pension Funds. It has long been the opinion of the author that this is a quasi-Ponzi Scheme and was destined for failure from the start. When half of the Trustees of such a Plan are Union Business Agents who have little, if any, financial background, how can actual and cogent financial guidance about investigating/managing millions of dollars be provided? The author had the privilege in the early 80's to serve as a Trustee of a Multi-Employer Pension Plan in California and got out of the Trustee Position because of the stupidity of the day-to-day Administration of the Pension Plan and its investment strategy. As an aside, the next time the author negotiated a contract with the Union that had that Pension Plan in it (Retail Clerks Union - Northern California), he got the Client out of the Plan prior to the creation of MEPPA in 1989.