Comments to the Joint Select Committee on Solvency of Multiemployer Pension Plans

Comments to the Joint Select Committee on Solvency of Multiemployer Pension Plans

On September 30th, 2018, the Pension Rights Center submitted comments to the Joint Select Committee on Solvency of Multiemployer Pension Plans.The letter includes three sections:

1) An explanation of how this emerging crisis developed and a critique of MPRA, which reversed the key promise of ERISA: that a plan cannot take away benefits that employees and retirees have already earned.

2) A description of the principles that should guide this Committee in developing its proposed legislation, including the repeal of the Multiemployer Pension Reform Act of 2014 (MPRA) and restoration of benefits already cut under that misguided statute.

3) The reasons that the so-called “composite” legislation cannot be a part of a solution.

Read the comments, here.