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PBGC girds for pending union plan catastrophe

Pensions & Investments
Date Published: 
Monday, March 20, 2017

Only one struggling multiemployer pension fund has landed on the doorstep of the Pension Benefit Guaranty Corp. so far after failing to win Treasury Department approval to reduce benefits, but the agency's dire financial condition has officials predicting painful cuts for more than 1 million multiemployer plan participants projected to need its help.