
Democrats Introduce Bill to Protect Pensions, Expand PGBC’s Power
Proposed legislation would create PBGC partition program and end ability to seek benefits cuts under MPRA.
Workers would take on up to 78% of the increase in liabilities and 88% of the contribution increases.
The Empire State’s pension system is mounting investor pressure against the poultry giant, which has been criticized for its pandemic safety practices in its plants.
Aggregate investment return of 11.72% wasn’t enough to counter falling interest rates.
Despite returns of nearly 13%, US corporate plans’ funded level remained flat for the year, thanks to falling rates, Willis says.