Multiemployer Pension Plans

Multiemployer Pension Plans are retirement benefit plans that are collectively negotiated between multiple employers and labor unions. These plans allow workers from different companies within the same industry to contribute to a single pension fund. This arrangement provides employees with retirement income based on their service and contributions, regardless of job changes among participating employers. Multiemployer plans aim to ensure stable retirement benefits for workers, but they can face financial challenges, especially if there are declining industries or employer bankruptcies, affecting the plan's ability to pay promised benefits.