Definition Of Multiemployer Plan In Insurance

Definition of "Multiemployer plan"

Diane Crowder, Real Estate Agent Keller Williams Realty

Pension or other employee benefit to cover employees at two or more financially unrelated companies. The companies may employ workers from the same labor union or those in the same industry. Employer contributions go into a common pool from which benefits are paid. Employees may transfer between employers in the fund and still retain their benefits. Multiemployer plans have grown rapidly in recent years as smaller employers band together to provide pension benefits to employees.