There is need for comprehensive legislation to fix severely underfunded multiemployer plans and save the benefits of workers and retirees who toiled in jobs for years in order to earn lifetime, guaranteed pensions.
Thanks to the extraordinary efforts of pensioners throughout the country, key members of Congress are working hard to develop alternatives to MPRA cuts. On July 25, 2019, the U.S. House of Representatives passed the Rehabilitation for Multiemployer Plans Act (H.R. 397) by a vote of 264-169. This bill, also known as the Butch Lewis Act, was introduced by Congressman Richard Neal (D-MA). It would protect the benefits retirees and workers have earned by providing loans and other assistance to troubled pension plans. It was introduced into the Senate as S.2254 with 26 original co-sponsors.
Learn more about PRC’s Pension Promises Initiative.