Multiemployer Alert: PBGC multiemployer program continues on a path toward insolvency

The latest projections report from the Pension Benefit Guaranty Corporation (PBGC) covers fiscal year (FY) 2018 and has three key takeaways for plan sponsors: 1) The Multiemployer Program has a high probability of insolvency in the coming decade. 2) About 125 plans are presently in critical and declining status. 3) Action by Congress is needed to improve the agency's financial condition.