“Better But Still Not Great.” Mulitemployer Retirement Plan Status

Last time Sage addressed multiemployer pension plans (also known as Taft-Hartley or union plans) in an Asset/Liability Monitor, it was fall 2009, and the situation was bleak by almost any measure. Indeed, according to a Segal Company survey, the number of plans in the endangered or critical zone — roughly equivalent to a funded status of 80% or less as defined by the Pension Protection Act (PPA) — tripled from 20% in 2008 to 62% in 2009! Since then, the multiemployer plans’ funded situation has improved significantly — at least on paper.