The Multi-Employer pension plan disaster

There are many good reasons to advise a client to beware participation in union sponsored multi-employer pension plans. None the least of which is the crushing withdrawal liability imposed upon small employers who who are vulnerable to the extraordinary and excessive underfunding issues exacerbated by the great recession and investment value declines. While there has been some improvement, the issue still confronts many employers. Thats whats particularly wrong when commentators characterize any government action to address the problem as a bailout for unions.  Its not. Its a bailout for employers saddled with underfunding liability as well as a bailout for participants, many who have worked years for promised pension benefits now in jeopardy.