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MORE PENSION BENEFIT REDUCTIONS

Gene Kalwarski, CEO and co-founder of Cheiron, an actuarial consulting firm that advises many of the country?s largest public and multiemployer pensions, told Morning Shift that the uptick in approvals this year may be because people have become more familiar with the process. According to new data that Cheiron will release later this year, he said, the number of plans projected to go insolvent is up 6 percent. Whether the uptick in MPRA applications continues will depend on whether the bipartisan supercommittee appointed to solve the multiemployer pension crisis comes up with an alternative to Kline-Miller.

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