4 12, 2018

Missing Deadline, Joint Committee Continues Work on Multiemployer Pension Crisis

2018-12-04T16:27:12-07:00December 4th, 2018|Categories: Multiemployer Plans|Tags: |

When the bipartisan Joint Select Committee on the Solvency of Multiemployer Pension Plans was created early this year, it was tasked with coming up with a solution by November 30. Senators and co-chairmen Orrin Hatch, R-Utah, and Sherrod Brown, D-Ohio, said they missed this deadline, but that the committee is making strong progress and will continue working on a package of potential solutions during the lame-duck session of the 115th Congress. Anyone who has listened in on the committee’s various [...]

16 05, 2018

Joint Select Committee on Solvency of Multiemployer Pension Plans

2018-05-17T09:42:39-07:00May 16th, 2018|Categories: Defined Benefit Plans|Tags: |

Joint Select Committee on Solvency of Multiemployer Pension Plans held a hearing in May seeking input from stakeholders. The committee held the hearing to improve the solvency of multiemployer pension plans and the Pension Benefit Guarantee Corporation. “As the committee works to report on the solvency of multiemployer pension plans and the Pension Benefit Guarantee Corporation and provide recommendations to significantly improve their long-term health, I am interested in hearing from stakeholders,” Hatch said. “Information and insights, from both [...]

26 04, 2018

Hearing Witnesses Lay Out How Multiemployer Pensions Got Where They Are

2018-04-26T09:50:51-07:00April 26th, 2018|Categories: Multiemployer Plans|Tags: , |

Witnesses for the newly formed Joint Select Committee on Solvency of Multiemployer Pension Plans spelled out for legislators the history of multiemployer pensions and how they got into the crisis they are in today. In his testimony, Thomas A. Barthold, chief of staff of the Joint Committee on Taxation, offered a very detailed history of the multiemployer pension plan system both before and after enactment of the Employee Retirement Income Security Act (ERISA). He identified four issues contributing to [...]