June 30,2014

Press Contact:

Ryan Carey (202) 224 4515

Wyden Statement on Underfunded Multiemployer Pension Plans

Senate Finance Committee Chairman Ron Wyden, D-Ore., today issued the following statement on the Pension Benefit Guaranty Corporation’s FY2013 Projections Report, which highlighted risks to underfunded multiemployer pension plans:

“I'm very concerned by the findings in the Projections Report issued today by the Pension Benefit Guaranty Corporation. The report confirms what we already know – the multiemployer pension plan system is in big trouble and putting a significant strain on the PBGC. As I’ve stated previously, the Finance Committee is taking a hard look at the issues surrounding multiemployer pension plans, and I will work with my colleagues to address these issues in order to protect Americans’ earned retirement benefits.”