Multiemployer Pension Crisis: Possible Approaches for Addressing Failing Plans
Session 2: Possible Approaches for Addressing Failing Plans
July 22, 2019 | Noon to 1 p.m.
G11 Dirksen Senate Office Building (SD-G11)
Lunch will be served.
There are no easy solutions for dealing with multiemployer pension plans that are projected to exhaust their resources. If Congress takes no action, more than a million people will experience dramatic reductions in their retirement benefits. Preventing or mitigating these cuts requires additional financial support to the plans, PBGC, or both. Policymakers have the difficult task of deciding whether to provide or how much financial support to provide, where it will come from, and the mechanisms under which the support will be provided.
This session will review and analyze various possible approaches for addressing failing multiemployer plans. Panelists will provide policymakers with an understanding of how different approaches would work in practice, highlighting the strengths and pitfalls of different options.
The briefing will start at noon. Lunch will be available before the event begins.
MODERATOR:
- Linda K. Stone, MAAA, FSA, Senior Pension Fellow, American Academy of Actuaries
SPEAKERS:
- Mariah Becker, MAAA, EA, Member, Multiemployer Plans Committee
- Christian Benjaminson, MAAA, FSA, EA, FCA, Vice Chairperson, Multiemployer Plans Committee
- Josh Shapiro, MAAA, FSA, EA, FCA, Vice President, Pension
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 attendees with a solid foundation of the past, present, and potential future of multiemployer pension plans.
