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Report: Congress must act on PBGC multiemployer insurance program

Congressional inaction on the Pension Benefit Guaranty Corporations' underfunded multiemployer insurance program will drain its assets and lead to its insolvency by the end of fiscal 2025, PGBC reported. "We would not be able to satisfy the guarantee we have, and the financial assistance would drop to the level we could use for premiums," said PBGC Director Gordon Hartogensis.

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