Tell the Congressional Committee on Multiemployer Pensions to Support the Butch Lewis Act
Joint Select Committee on Solvency of Multiemployer Pensions
Please sign the petition to urge Congress’s Joint Select Committee on Solvency of Multiemployer Pensions to support the Butch Lewis Act as the best solution to fund insolvent multiemployer pension plans and avert a looming retirement crisis for millions of Americans.
The Butch Lewis Act (S. 2147), introduced by Sen. Sherrod Brown (D-Ohio), would offer federally subsidized loans to multi employer plans in danger of becoming insolvent. It would also maintain the health of well-funded multi-employer plans and adequately fund the Pension Benefit Guarantee Corporation (PBGC), without making any cuts to the earned benefits of current or future retirees. Plans would invest the money from these loans and use the investment earnings to pay retiree benefits and improve the plan’s financial health.
The companion House legislation is the Rehabilitation for Multiemployer Pensions Act, introduced by Rep. Richard Neal (D-Mass.).
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To:
Joint Select Committee on Solvency of Multiemployer Pensions
From:
[Your Name]
Please support the Butch Lewis Act (S. 2147/ H.R. 4444). This legislation would help save the financially-troubled multiemployer pension system while fully protecting the earned and vested benefits of current and future retirees.
The Butch Lewis Act is the only solution put forth to date which appropriately and adequately addresses the multiemployer pension crisis by providing a lifeline to plans in critical financial status while maintaining the integrity of healthy multiemployer plans and the PBGC without cutting the earned benefit promises made to our nation's retirees and working families.
Please support and cosponsor this important legislation.
Thank you.