Dec. 8, 2014, Fairfax, Va.—Americans for Limited Government President Nathan Mehrens today issued the following statement urging House negotiators to block any bailout of the Pension Benefit Guaranty Corporation (PBGC) that might be included in imminent omnibus spending legislation:
“With the Pension Benefit Guaranty Corporation projected to be running a large deficit over the next decade, there must be no bailout for big labor in this or any other funding bill during the lame duck session. A 2009 report by Moody’s on the solvency of union run multiemployer pension funds revealed many under 60 percent funded putting them into the government designated ‘critically underfunded’ category. If big labor is truly concerned about the multiemployer pension system, it should negotiate higher contributions in future contracts.”
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