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House Passes Bipartisan Multiemployer Pension Reform

After a bipartisan agreement to reform the multiemployer pension plan system and protect millions of workers from financial catastrophe was passed by the U.S. House of Representatives today, Committee on Education and the Workforce Chairman John Kline (R-MN) and Senior Democratic Member George Miller (D-CA) issued the following joint statement:

Tonight a bipartisan Congress put workers and businesses one step closer toward having the tools they need to come together and save pension plans that are facing imminent bankruptcy. Our bipartisan agreement should become the law of the land to help prevent the collapse of failing plans and better protect workers’ retirement security. It’s time to trust our nation’s workers, employers, and union leaders to do the right thing by enacting this important bipartisan agreement.

Learn more about the multiemployer pension plan reform here

Read letters of support from labor and business leaders here

Full text of the legislation can be found here.

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