Will President Trump rescue failing pension funds?

  TO THE exasperation of budget hawks, Donald Trump has long made clear that he will not reform Social Security (public pensions). But maintaining these entitlements does not fully protect workers’ retirement income. For many, pension promises from their employers are more important. These can shrink or vanish when firms fail. And, like Social Security, the programme that protects retirees against such losses—the Pension Benefit Guaranty Corporation—is going bust. The PBGC levies premiums on defined-benefit pension plans in order to bail out those that fail (up to a maximum payout…

Read More