The 1980 Multiemployer Pension Plan Amendments Act

An Assessment of Funding Requirement Changes Gao ID: HRD-85-1 February 27, 1985

GAO reported on the effect of the Multiemployer Pension Plan Amendments Act of 1980 on employers, participants, and others, and it assessed the effect of the act's changes in multiemployer plan funding requirements.

GAO found that 14 of 149 plans it examined were financially distressed and could pose a risk to the government's insurance program amounting to billions of dollars. The act's provisions for improving the financial condition of such distressed plans, however, may not be adequate. GAO noted that, although the act's reorganization provisions are intended to reduce the risk that financially distressed plans pose to the entire insurance program, the provisions are not likely to identify the distressed plans or to require most of them to take action to improve their financial condition.

Recommendations

Our recommendations from this work are listed below with a Contact for more information. Status will change from "In process" to "Open," "Closed - implemented," or "Closed - not implemented" based on our follow up work.

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