Tell Congress: Protect Our Pensions

It is vital that Congress address the nation’s growing pension funding crisis. The BCTGM believes that a legislative solution which provides pension plans with the funding necessary for long-term solvency without forcing trustees to reduce participants’ hard-earned pension benefits would be an important first step.

Nearly 5,000 BCTGM members have flooded Congress with letters calling for legislation that would help put pension plans back on solid footing.

In February, Congress established the Joint Select Committee on the Solvency of Multiemployer Pension Plans. The Committee, comprised of eight House and eight Senate members equally divided between Democrats and Republicans, is charged with coming up with a legislative solution to this crisis by November 30, 2018. The legislative solution agreed upon by the Committee will then be sent to both houses of Congress for a vote.

Ohio Senator Sherrod Brown, sponsor of the Butch Lewis Act of 2017 (S.2147), serves as Co-Chair of the Committee. Representative Richard Neal of Massachusetts, sponsor of H.R. 4444, the Rehabilitation for Multiemployer Pensions Act, also serves on this Committee.

It is vital that BCTGM members continue to pressure Congress to support the legislative solution called for in S. 2147 and H.R. 4444, long-term, low-interest loans to pension funds. This is the most effective way to strengthen pension plans and avoid retiree benefit reductions.