Given the many shortcomings of the multiemployer pension system traditionally used in the unionized sector of the construction industry, many parties are looking for alternatives. AGC, in cooperation with labor and others, is actively advocating for legislative changes that would authorize a new retirement plan model called “composite plans.” In the meantime, there are some alternative plan designs already available to consider. This three-part webinar series is designed to educate AGC’s union-contractors members and their chapters about such alternatives to help inform their decisions.
On Jan. 10, John Redmond of Segal will provide an overview of what “hybrid plans” and other relevant terms mean, of the types of alternative plans that are currently available, and of their basic features, advantages and drawbacks.
On Jan. 15, Kelly Coffing and Ladd Preppernau of Milliman will talk about the Sustainable Income Plan, a variation on a variable annuity plan design recently adopted by several AGC chapters.
On Jan. 24, Dan Brennan and Mark Levengood of Susanin Widman and Brennan will provide information about an AGC chapter-developed strategy involving a cash balance model.