On Friday, John Elliot, a partner at New England Pension Consultants and a 2005 recipient of the Taft-Hartley Consultant of […]Read more
The Central States Pension Fund (CSPF) serves 400,000 workers and retirees, but it’s expected to become insolvent by 2025. Before […]Read more
Welcome to The World of Multiemployer Benefit Funds Podcast with union and client advocate, Traci Dority-Shanklin. Join us on January […]Read more
Meet Stephen McCourt, who is a Managing Principal and Co-Chief Executive Officer of Meketa Investment Group. Steve serves as the lead consultant for several institutional, public, Taft-Hartley, endowment, and non-profit funds.
This episode is packed with a lot of essential thoughts as we all navigate the economic and business disruption caused by the COVID-19 pandemic.
Some of the highlights are:
- How Multi-Employer plan trustees are handling yet another economic crisis.
- Steve’s insights on how this disruption is shifting the execution of Multi-Employer plans meetings and reporting.
- The adoption and future reliance on technology solutions for all fund business.
- The likely shift in the way Multi-Employer plans will be conducting the funds business going forward.
- And much more!
Meet Jason Russell, who is a senior vice president and actuary with Segal and works with multi-employer pension plans across the country. Jason deals with a wide range of benefit plans, both healthy and distressed, in various industries.
Our conversation is about the immediate need to reform Defined Benefit Plan regulations. Jason explains the various proposals that could provide much-needed aid to sustain multi-employer plans. Not surprisingly, the economic impact of the coronavirus pandemic has heightened the need to include these plans in one of the proposed stimulus packages.
Before the economic crisis caused by the coronavirus pandemic, there was 130 plan in critical-declining status with another 200 in critical condition. Jason explains the potential macroeconomic impact due to the strain on social safety nets in America if too many of these plans go insolvent. For additional information on the macroeconomic impact visit:
NCCMP: Cost of doing nothing
Central States economic impact