Multi-employer pension plans are most often used in industries where workers may move from company to company.
From an article found on the web: “For example, employees of all companies that were once part of Bell Telephone have an agreement whereby service in all companies is counted toward a single pension benefit.”
One of the largest multi-employer pension plans is TIAA-CREF.
This article implies, to me, that not all multi-employer pension plans are in bad shape. But, if it were me, I’d pull out my pension documents and read them. And if I still couldn’t figure it out, I’d call the pension and speak with someone there and have them direct me to documents that confirm whatever they’re telling me. Don’t depend on what someone says over the phone. Ask for documentation.
Your pension is probably fine, for now. But the bubble is gonna burst sometime so it would behoove everyone to be as prepared as possible.
Thanks so much for the info-—I’ll give them a call.
What times we live in.
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