This multi-employer pension plan covers workers primarily in the hospitality and gaming industries across several western states. These plans pool contributions from various employers, allowing workers to accrue benefits even if they change jobs within the covered industries. This structure provides greater portability and stability compared to single-employer plans.
Such arrangements offer crucial financial security for workers in industries with historically high turnover. By pooling resources and risks across multiple employers, these funds can provide more predictable and stable retirement income. This stability benefits not only the workers but also the overall economy by providing a safety net and promoting long-term financial planning. The historical context of these plans often stems from the collective bargaining power of labor unions, advocating for worker well-being and retirement security.