Pension Plan Rescue Legislation Getting Tough to Price
An effort to shore up troubled pension plans for many middle-class workers comes with a squishy price tag. A bill (S 2147) by Sen. Sherrod Brown, D-Ohio, would create a Pension Rehabilitation Administration within the Treasury Department that could make loans to multiemployer pension plans for union workers. Those plans have been estimated to be underfunded by about $65 billion, endangering the retirements of about 1.5 million residents nationwide. The Congressional Budget Office had provided a preliminary estimate several [...]