WASHINGTON, D.C. | December 11, 2014
Letters of support are pouring in for the bipartisan agreement to reform multiemployer pensions. Released by House Education and the Workforce Chairman John Kline (R-MN) and Ranking Member George Miller (D-CA), the proposal includes reforms to provide trustees with new tools to save troubled plans, while protecting taxpayers. See what business and union leaders are saying in support of this bipartisan agreement:
"The bi-partisan proposal developed by the Education and Workforce Committee will modify the expiring Pension Protection Act (PPA) and give plan trustees the tools they need to strengthen their plans. This proposal helps troubled plans avoid insolvency, puts the plans recovering from the economic downturn on firmer ground, and helps those plans – and retirees – that are most in trouble avoid losing everything." – North America’s Building Trades Unions
"I urge you to support the Multiemployer Pension Reform Act of 2014 as it follows the “Solutions Not Bailouts” proposal that was a private sector, joint labor-management proposal to solve the multiemployer pension system failures and avoid a federal bailout. The legislation will provide modifications to the PPA that will strengthen plans’ funding positions and ensure long-term retirement security." – Associated General Contractors of America
"The Kline-Miller legislation protects pensions, retirees, and taxpayers. It is the only reform that accomplishes all of these important objectives." – The Association of Food and Dairy Retailers, Wholesalers and Manufacturers, Aramark, Bimbo Bakeries, ConAgra Foods, Dairy Farmers of America, Dean Foods, Kellog’s, Kroger
'Workers and their employers have used and exhausted all the tools at their disposal to strengthen their plans on their own. Some have even increased worker and employer contributions and accepted reduced benefits to preserve these pensions … We are simply asking Congress to give multiemployer pension plans the tools they need to modernize, continue to provide benefits, and in some cases, avoid insolvency." – United Brotherhood of Carpenters and Joiners of America
"This bipartisan agreement follows three years of hard work, hearings, events and negotiations between employers and unions, and members of Congress. It is absolutely essential legislation to allow the private sector to resolve the multiemployer pension crisis without government involvement." – The Kroger Co.
"While imperfect, SEIU supports this legislation because it will help preserve and protect the multiemployer defined benefit pension system for our members and all of the system’s participants for years to come. Failure to pass this legislation now will jeopardize the future of this system, and will increase the eventual cost for our members, our employers, and potentially for taxpayers." – Service Employees International Union
"If Congress enacts the bipartisan Kline-Miller legislation, it will allow critically underfunded multiemployer pension plans to engage in self-help to save themselves from insolvency, at no cost to taxpayers. It will protect plan participants from larger benefit cuts in the future; avert large contribution increases that will result in employer bankruptcies; prevent the loss of thousands of jobs; and greatly minimize inevitable calls for a PBGC bailout." – ArcBest Corporation
"Our seniors are looking to Congress for common sense, bipartisan pension reform that protects as many multiemployer plans as possible. The Kline-Miller compromise, while not perfect, achieves that goal. The UFCW strongly urges you to include these reforms in the year-end spending bill without further delay." – United Food and Commercial Workers International Union
"It is absolutely critical that we move forward with legislation to address the challenges facing these plans so that we can continue to provide the hardworking men and women who make America strong with benefits that allow them to retire with dignity." – United Association of Journeymen and Apprentices of the Plumbing and Pipe Fitting Industry of the United States and Canada
"Pension trustees have run out of options. They have used and exhausted the policy tools at their disposal. Many have increased worker and employer contributions. A large number have reduced pension accrual rates, in addition to other painful policy steps. The International Union of Operating Engineers strongly believes that Congress must take these essential steps to strengthen the multiemployer pension system." - International Union of Operating Engineers
"The bipartisan proposal developed by the Education and the Workforce Committee will modify the expiring Pension Protection Act (PPA) and give plan trustees the tools they need to strengthen their plans." – International Union of Painters and Allied Trades
"The National Coordinating Committee for Multiemployer Plans (NCCMP) strongly supports the bipartisan agreement between Chairman John Kline and Ranking Member George Miller of the House Education and Workforce Committee to reform the multiemployer pension system and implement key provisions of the Solutions Not Bailouts proposal." – National Coordinating Committee for Multiemployer Plans.
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