The Mechanical Contractors Association of America (MCAA) and Horizon Actuarial Services have released a second edition of their Inventory of Construction Industry Pension Plans. The Inventory provides historical data from all multiemployer pension plans in the construction industry. It includes analyses of key trends in plan demographics, cash flows, investments, funding, costs, and expenses. One of the enhancements of the new edition is inclusion of plan features by specific craft.
“The result is a valuable tool that will assist the union sector of the construction industry in better understanding how multiemployer pension plans have evolved, and where they may be headed, to aid them in ensuring the plans’ futures,” MCAA stated in a Feb. 1 press release.
AGC and MCAA are working together, along with other stakeholders from both labor and management, to promote certain legislative reforms in laws governing multiemployer pension plans. The proposed reforms, known as Solutions Not Bailouts, are designed to stabilize and enhance the current multiemployer system, provide additional tools for deeply troubled plans, and encourage the development of innovative plan designs. AGC hopes to see legislative adoption of the proposed reforms this year, before the scheduled sunset of the Pension Protection Act of 2006 (PPA) at the end of 2014.