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Modeling the Costs of the Pension Benefit Guaranty Corporation’s Multiemployer Program: Working Paper 2017-04

Author

Listed:
  • Wendy Kiska
  • Jason Levine
  • Damien Moore

Abstract

The Pension Benefit Guaranty Corporation (PBGC), a government-owned corporation, insures the pension benefits of more than 10 million participants in multiemployer defined benefit pension plans. Multiemployer plans are typically offered, as part of collective bargaining agreements, by multiple unrelated employers that are jointly responsible for funding the plan. In recent years, many multiemployer plans have experienced underfunding, and some plans now face insolvency. Many beneficiaries of insolvent plans are likely to receive less than their insured benefits, because

Suggested Citation

  • Wendy Kiska & Jason Levine & Damien Moore, 2017. "Modeling the Costs of the Pension Benefit Guaranty Corporation’s Multiemployer Program: Working Paper 2017-04," Working Papers 52749, Congressional Budget Office.
    • Handle: RePEc:cbo:wpaper:52749
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    File URL: https://www.cbo.gov/system/files/115th-congress-2017-2018/workingpaper/52749-pbgcwp.pdf
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    Cited by:

    1. Megan Carroll & David Torregrosa, 2019. "A Summary of Selected CBO Reports on Cash and Accrual Budgeting: Working Paper 2019-09," Working Papers 55672, Congressional Budget Office.

    More about this item

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • J32 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions

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