bailout money gettyLast week, I walked readers through the particulars of the latest version of a bailout plan for the troubled multiemployer pension plans. The good news:The legislation states that its objective is “to pay all benefits due” up until 2051. The bad news:The text of the legislation, as written at the moment, does not spell out any of these mechanics. Is the plan to require contributions at the same level as these troubled plans are currently paying in, or more, or less? Because contributions are tax-deductible, this is a backdoor way of raising revenues, to the tune of $12.6 billion during this time period.

Source: Forbes February 16, 2021 06:07 UTC