Multiemployer Pension Crisis: Background and Current State
Session 1: Background and Current State
July 15, 2019 | Noon to 1 p.m.
2261 Rayburn House Office Building
Lunch will be served.
This session will provide an introduction to multiemployer pension plans and the serious challenges currently facing them, including a review of the basics of multiemployer defined benefit pension plans and their unique characteristics.
Our panelists will discuss the current condition of multiemployer plans, as well as PBGC’s multiemployer insurance program. The discussion will focus on plans that are failing, emphasizing the factors that have contributed to their condition and the scope of the crisis. The session also will cover plans that have strong or improving funding levels.
The briefing will start at noon. Lunch will be available before the event begins.
- Linda K. Stone, MAAA, FSA, Senior Pension Fellow, American Academy of Actuaries
- Joe Hicks, MAAA, EA, FCA, Member, Multiemployer Plans Committee
- David Pazamickas, MAAA, ASA, EA, FCA, Member, Multiemployer Plans Committee
- Jason Russell, MAAA, FSA, EA, Chairperson, Multiemployer Plans Committee
ABOUT THESE BRIEFINGS
The American Academy of Actuaries is hosting a series of briefings to provide a comprehensive look at the multiemployer pension crisis. The first will provide essential background on the multiemployer pension crisis, while the second will look at what can be done to address failing plans. The final briefing will look to the future and outline potential reforms to strengthen the system. Together, these briefings will equip Hill leaders and other stakeholders with a solid foundation of the past, present, and potential future of multiemployer pension plans.