multiemployer pensions

Multiemployer pensions are retirement plans jointly maintained by multiple employers, usually within the same industry or sector, and a labor union representing workers. These plans pool resources to provide retirement benefits for employees covered under their agreements. Contributions from each employer fund the pensions, and benefits are typically shared among workers across different companies within the plan. If a participating employer faces financial difficulties, the plan’s trustees are responsible for managing the pension fund to ensure retirees continue to receive promised benefits. Multiemployer pensions promote collective bargaining and risk-sharing among multiple employers and workers.