MCAA releases pension plan report
Written in conjunction with Horizon Actuarial Services LLC, it includes trends in demographics, cash flow, investments, costs and expenses from 2001 to 2010.
MCAA officials say they hope the report will help ensure the stable future of such plans.
“Right now, securing a stable future for the multi-employer defined-benefit pension plans our work force relies upon may well be the most critical issue facing us,” said MCAA President Mac Lynch. “As a result of market volatility brought on by economic conditions and structural issues brought about by an aging demographic and lower levels of construction activity, some multi-employer plans don’t appear to be sustainable going forward. As a matter of national policy this issue needs to be addressed, in a way that protects workers that benefit from the plans and maintains the competitive position of our contractors, and consequently our ability to continue to contribute to these plans for the benefit of our work force.”
The report is available at www.mcaa.org.