Quantcast
Get breaking news alerts via email

Click here to manage your alerts
Pension agency says plans for 1.5 million at risk
Retirement » Multi-employer plans are riskiest, single-employer plans on firm footing.
First Published Jun 30 2014 01:17 pm • Last Updated Jun 30 2014 03:47 pm

Washington • A federal agency says that despite an improving economy, retirement plans covering roughly 1.5 million U.S. workers are severely underfunded, threatening benefit cuts for current and future retirees.

The Pension Benefit Guaranty Corporation says the most at risk are multi-employer plans, which are collectively bargained retirement plans maintained by more than one employer.

Join the Discussion
Post a Comment

At the same time, the agency says financial condition of single-employer pension plans — covering about 30 million participants — are on firmer financial footing and are like to see their finances remain solvent and even improve.

The report concludes that as shaky as the situation is for the underfunded multi-employer plans, the outlook is slightly better than a year ago.




Copyright 2014 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Top Reader Comments Read All Comments Post a Comment
Click here to read all comments   Click here to post a comment


About Reader Comments


Reader comments on sltrib.com are the opinions of the writer, not The Salt Lake Tribune. We will delete comments containing obscenities, personal attacks and inappropriate or offensive remarks. Flagrant or repeat violators will be banned. If you see an objectionable comment, please alert us by clicking the arrow on the upper right side of the comment and selecting "Flag comment as inappropriate". If you've recently registered with Disqus or aren't seeing your comments immediately, you may need to verify your email address. To do so, visit disqus.com/account.
See more about comments here.
Staying Connected
Videos
Jobs
Contests and Promotions
  • Search Obituaries
  • Place an Obituary

  • Search Cars
  • Search Homes
  • Search Jobs
  • Search Marketplace
  • Search Legal Notices

  • Other Services
  • Advertise With Us
  • Subscribe to the Newspaper
  • Access your e-Edition
  • Frequently Asked Questions
  • Contact a newsroom staff member
  • Access the Trib Archives
  • Privacy Policy
  • Missing your paper? Need to place your paper on vacation hold? For this and any other subscription related needs, click here or call 801.204.6100.