PBGC insures more than 10 million Americans in multiemployer pension plans. As the name suggests, a multiemployer plan is funded by more than one employer, typically in the same industry. Each employer makes contributions to the plan on behalf of their employees, usually under the terms of a collective bargaining agreement.
When it established PBGC in 1974, Congress created two separate and distinctly different insurance programs. The larger and better-known program insures pensions sponsored by a single employer; the other covers multiemployer plans.
PBGC wants workers and retirees with multiemployer pensions to better understand their coverage. The first step: As part of the President Obama's Open Government initiative and to better serve the American people, we've added the complete list of insured multiemployer plans to our website. For additional information, see also our fact sheet on multiemployer pensions. Over the next few months, we'll be posting additional content that helps explain the program, the protection it offers and some of the challenges facing multiemployer plans.