multiemployer plans

Multiemployer plans are retirement and health benefit programs jointly managed by multiple employers and labor unions, typically within the same industry or region. These plans pool resources from participating employers and employees to provide benefits to workers, both during employment and after retirement. They are designed to promote collective bargaining and ensure that workers have access to benefits regardless of individual employer stability. In times of financial difficulty, some multiemployer plans may face funding challenges, which could affect the level of benefits or require financial adjustments.