WASHINGTON, D.C. | October 25, 2013 -
On Tuesday, October 29 at 10:00 a.m., the Subcommittee on Health, Employment, Labor, and Pensions, chaired by Rep. Phil Roe (R-TN), will hold a hearing entitled, “Strengthening the Multiemployer Pension System: How Will Proposed Reforms Affect Employers, Workers, and Retirees?" The latest in a series of hearings on multiemployer pension reform, the hearing will take place in room 2175 of the Rayburn House Office Building.
Multiemployer defined benefit pension plans are created by collective bargaining agreements. The plans are administered jointly by a board of trustees equally representing employers and union officials. Since 2011 the House Education and the Workforce Committee has been examining the challenges facing the multiemployer pension system, including changing demographics, unfunded benefit liabilities, and the projected insolvency of the Pension Benefit Guaranty Corporation. The National Coordinating Committee for Multiemployer Plans (NCCMP) has released a comprehensive proposal to reform the multiemployer pension system that includes new plan designs and additional tools for plans in deep financial distress.
Tuesday's hearing will provide members an opportunity to discuss how NCCMP’s proposed reforms might affect workers, employers, and retirees. To learn more about Tuesday’s hearing, visit http://edworkforce.house.gov/hearings.
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Mr. David Certner
Legislative Counsel and Legislative Policy Director
Ms. Carol Duncan
General Sheet Metal Works
Mr. Sean McGarvey
Building and Construction Trades Department
Mr. Thomas C. Nyhan
Central States Southeast and Southwest Areas Pension Fund