Recently the Pension Benefit Guaranty Corp. (PBGC) sounded alarm bells about the health of multi-employer pension plans. To address the necessary legislative changes, experts from PBGC met with the bipartisan U.S. Senate Joint Committee on Taxation. The result was a joint statement, affirming the PBGC concerns. “More than 100 funds are expected to become insolvent in the next 10 to 20 years, putting the financial security of over one million workers and retirees in jeopardy and hurting our economy by potentially forcing thousands of small businesses to close.” Going forward, they seek a bipartisan solution that protects the program and insures that “retirees get the benefits they earned.” Call or visit our website for more information! www.mjscpa.com/
