An estimated 114 multi-employer pension plans covering more than 1.3 million people are underfunded by more than $36 million and are expected to become insolvent in the next two decades, according to a new report.

The plans cover just 8 percent of the more than 1,400 such plans in the U.S. However, Cheiron, the Virginia consulting company that released the study, warns that the spillover effect from the failing plans could be bad for the rest of the country.