Former PBGC Director Discusses ‘Keeping the PBGC from being the next bailout’
In a recent Pension and Investments opinion column, former PBGC executive director Bradley Belt addressed what needs to happen to keep PBGC from a federal bailout. Belt cited PBGC's Projections Report, which notes the improved condition of the single-employer program. However, the multiemployer program has "deteriorated alarmingly," Belt said.
A federal bailout is avoidable, according to Belt, provided three changes are made to current law: An overhaul to the premium structure, a change in the agency's governance, and a greater ability to determine financial solutions.
Disclaimer: This column does not necessarily represent the views of PBGC or any of its executive leaders and managers.