Financial market volatility resulting from the coronavirus pandemic has caused more strain on multiemployer pension plans which may increase the number of plans eligible for benefit suspensions. Proposed legislation aiming to eliminate benefit suspensions and solvency issues surrounding the Pension Benefit Guaranty Corporation further complicate an already difficult decision-making process.
In this Multiemployer Review, actuaries Casey Baldwin and John Rowland provide an overview of the benefit suspension process under the Multiemployer Pension Reform Act of 2014. They also pose some questions that trustees and plan professionals must consider and share lessons learned from previous applications.
Millennials became the largest represented generation in the
U.S. labor force in 2016 and now stand at about 35% of the workforce. Yet due
to issues like unstable work, debt, and coming of age during the global
financial crisis of 2007-2010, concern about the retirement savings of
Many statistics show that this generation’s retirement risks
may not be so different from older generations. In fact, many complexities
surround the financial wants and needs of Millennials. Employers may benefit
from learning more about this generation’s changing relationship with
This article by Milliman’s Casey Baldwin, Craig Glyde, and Sarah Murray explains what Millennials want and expect from retirement and actions employers can take that may benefit this group.