At Long Last: Senate Moves Forward With a Multiemployer Pension Rescue

2019-11-21T13:28:49-08:00November 21st, 2019|Categories: Multiemployer Plans|Tags: |

Earlier today, Senators Chuck Grassley (R-Iowa) and Lamar Alexander (R-Tenn.), chairs of the Senate Finance and Senate Health, Education, Labor and Pensions Committees respectively, released a proposal for new legislation to rescue struggling multi-employer plans and the multi-employer arm of the PBGC itself, which is otherwise anticipated to become insolvent in 2025. This proposal, which they’re calling the Multiemployer Pension Recapitalization and Reform Plan, doesn’t promise the something-for-nothing of the House Democrat’s Butch Lewis Act (originally proposed in 2018 [...]