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Kline Presses Secretary Perez on Multiemployer Pension Reform

Labor Secretary Thomas Perez testified before the Committee on Education and the Workforce today at a hearing that examined a number of the department’s policies and responsibilities, including those affecting retirement security. During his opening remarks, Chairman John Kline (R-MN) noted Secretary Perez “played an integral role in our efforts to reform the multiemployer pension system.” Chairman Kline pressed the secretary to commit to advancing additional reforms that would “modernize the system for future generations of workers and retirees.”

I am committed to working with you, and Treasury Secretary Lew, Ranking Member Scott, and others to reach agreement on a package of reforms that will shore up the [Pension Benefit Guaranty Corporation] and give employers and workers options for new benefit plans ...

I am committing to you, and my colleagues here, that I am fully engaged in trying to get this done, but time is growing short. I am asking for your commitment, sir, to working with us to try to get these reforms finished this year.

To view a video of the exchange, click here.

For more information about the hearing, click here.

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