MCAA Releases Pension Inventory
The report summarizes and analyzes key trends in plan demographics, cash flows, investments, funding, costs, and expenses from 2001-2010.
Mac Lynch, president, MCAA announced the publication saying, “Right now, securing a stable future for the multiemployer defined benefit pension plans our workforce relies upon may well be the most critical issue facing us. 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 multiemployer 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 workforce.”
According to MCAA, this inventory report will fill a need in the industry by providing a groundbreaking approach to these ongoing issues and is particularly timely given the upcoming congressional debate over the future of these plans.
Lynch noted that an additional, important element accompanies this inventory, saying, “The appendix provides a list of all of the construction industry’s plans, and should assist contractors and their accountants in readily pinpointing the information they need to comply with the FASB rules.”
MCAA is making the inventory available to the entire industry at no cost.
The full report is available on MCAA’s website at www.mcaa.org.
Publication date: 9/17/2012