Pension Withdrawal Liability

DOL Website Shows Some Construction Industry Pension Plans Remain in Financial Trouble

0 January 30, 2019  Featured, Federal Construction, State & Local Construction

Following this week’s post at TheTruthAboutPLAs.com about pensions and government-mandated project labor agreements, The Project Labor Agreement and Troubled Union Multiemployer Pension Plan Nexus, ABC’s Newsline published this article Jan. 30, 2019, Some Construction Industry Pension Plans Remain in Financial Trouble, about multi-employer pension plans. Merit shop contractors are typically wary of competing for taxpayer-funded construction […]

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The Project Labor Agreement and Troubled Union Multiemployer Pension Plan Nexus

0 January 28, 2019  Featured, Federal Construction, State & Local Construction

Construction unions attempt to entice merit shop craft professionals and new construction industry workers and apprentices into joining a union with promises of generous retirement benefits via multiemployer pension plans. Construction unions lobby elected officials in charge of procuring taxpayer-funded construction projects with arguments on why union contractors and union workers deserve special treatment through various […]

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Many Construction Industry Multiemployer Pension Plans Remain Severely Underfunded

3 July 1, 2013  Featured, Federal Construction, State & Local Construction

Construction unions attempt to entice merit shop craft professionals and young workers into joining a union with promises of generous retirement benefits through multi-employer pension plans (MEPPs). They also convince elected officials in charge of procuring taxpayer-funded construction projects why union contractors and union workers deserve special treatment through various schemes like government-mandated project labor […]

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The Dismal Future of Construction Industry Multiemployer Pension Plans

1 April 23, 2012  Federal Construction, State & Local Construction

A new report shining light on the dreadful health of multi-employer pension plans (MEPPs) for U.S. union workers and retirees estimates such plans are only 52 percent funded, with a $369 billion shortfall. MEPPs in the construction industry are responsible for a significant amount of pension shortfalls.

Construction MEPPs are responsible for about $167 billion (or 47 percent) worth of PBGC-insured MEPP underfunding. Abd it could get worse. Fifty-five percent of the 1,488 MEPPs insured by the PBGC are in the construction industry. The largest number of employees from any industry, about 3.885 million or 37.4 percent of all PBGC-insured MEPP participants (workers and retirees), are from the construction industry.

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More on Big Labor’s Pension Bailout Scheme

1 March 25, 2010  Federal Construction, Uncategorized

There is an interesting piece in today’s Washington Times that examines how poorly performing union pension plans are at the heart of Big Labor’s support for health care reform and push for government-mandated project labor agreements (PLAs) on federal and federally-funded construction projects  (“Unions Want Washington’s Help With Pension Funds,” 3/25/10). Nonunion workers and private companies could be forced into absorbing the […]

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Expert Advice: Beware of PLA Multiemployer Pension Plan Mandates

0 June 29, 2009  Uncategorized

PLAs often require contractors to participate in union multi-employer pension programs mandated via applicable union collective bargaining agreements referenced in PLAs .  Contributing to multi-employer pension plans is problematic for nonunion contractors for a variety of reasons highlighted here. An interesting article by Chang, Ruthenberg and Long Employee Benefit Attorneys warns employers about the problems with contributing […]

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More on Union Pensions

0 June 11, 2009  Uncategorized

Yesterday I wrote about how pension provisions in typical PLAs: Hurt retirement for non-union workers. Employer retirement contributions into union pension plans on behalf of non-union workers are forfeited unless workers join a union. Keep underfunded and mismanaged union pension plans afloat. Expose contractors to underfunded multi-employer pension withdrawal liability. Increase costs to construction users because […]

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Construction Unions Push PLAs to Save Underfunded Union Pension Plans

1 June 10, 2009  Uncategorized

A piece in The Washington Examiner (“Almost half of top unions have underfunded pension plans,” 6/7) reports that some major construction labor unions have underfunded pension plans.  This is relevant to the PLA debate because PLAs typically force non-union employers and their employees to contribute to union pension funds for time worked on a PLA project. Readers may […]

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