Tell Congress: Protect Workers Pensions
House Committee on Education and the Workforce
Corporate lobbyists and the Central States Pension Fund are pushing to change federal law to allow some pension plans to impose massive pension cuts, even for retirees on a fixed income.
We've got a better idea. Strengthen pension funds so that working people can retire on the pensions they were promised.
The Pension Benefit Guaranty Corporation (PBGC) is is calling for Congress to increase the insurance premiums that are paid by pension funds to help secure our pensions.
The PBGC provides pensions to workers whose pension funds become insolvent, like the FDIC does for bank accounts. But right now PBGC premiums are far too low to protect our pensions.
If nothing changes, Teamsters in the Central States could see their pensions cut by 65 percent!
The House Committee on Education and the Workforce is preparing to take up pension legislation. We need to urge them to raise PBGC premiums and help secure our pensions.
Petition by
To:
House Committee on Education and the Workforce
From:
[Your Name]
Congressional action is needed to protect working people's pensions.
We call on you to support reforms to increase Pension Benefit Guaranty Corporation premiums for multi-employer pension plans and to raise the PBGC mandated maximum benefit.
PBGC premiums are far too low to protect workers' pensions. The PBGC only guarantees a small fraction of the pensions that working people were promised and worked our whole lives to earn.
We oppose proposals to eliminate the ERISA “anti-cutback” provision that would allow pension funds to reduce current benefits for retirees.