Multiemployer Program Posts Record Deficit, Single-Employer Shortfall Shrinks, PBGC Says

Multiemployer Program Posts Record Deficit, Single-Employer Shortfall Shrinks, PBGC Says

The deficit of the Pension Benefit Guaranty Corporation’s multiemployer plan program rocketed to an all-time high in fiscal year 2014 of $42.4 billion—more than five times its previous high in 2013— the agency said in its annual report.