House Subcmte. Examines Multiemployer Pension Plans


Joshua Gotbaum, director of the Pension Benefit Guaranty Corporation (PBGC), testified on the challenges facing multiemployer pension plans at a House Education and the Workforce Subcommittee on Health, Employment, Labor, and Pensions hearing.

The hearing looked at the PBGC’s insurance program and financial outlook.

PBGC faces $7billion in future obligations since an aging workforce, weak economy and fewer contributing employers have made the multiemployer pension system and plans rely more on PBGC for financial assistance.

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