Multiemployer Pension Crisis: Strengthening the System for the Future
Session 3: Strengthening the System for the Future
August 2, 2019 | Noon to 1 p.m.
Room: 485 Russell Senate Office Building
Lunch will be served.
The current crisis has demonstrated that the multiemployer pension plans are vulnerable to a combination of demographic shifts, bankruptcies, and economic cycles. While the majority of plans are not currently distressed, even well-funded plans are exposed to the same risks that have caused some plans to become insolvent.
This session, the last in the series, will focus on potential long-term reforms to the multiemployer system to stabilize plans and reduce the possibility that there will be another crisis in the future. Such reforms could include changes to the funding rules, benefit designs, plan governance, or withdrawal liability. Panelists will review potential approaches, discuss how they would affect plans, and analyze the advantages and disadvantages of various approaches.
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:
- Christian Benjaminson, MAAA, FSA, EA, Vice Chairperson, Multiemployer Plans Committee
- Jason Russell, MAAA, FSA, EA, 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.
