On the recordMarch 6, 2019
If Congress does not reform the architecture of the multiemployer pension system, then it won't matter how much money we throw at this problem.
Source
congress.govIf Congress does not reform the architecture of the multiemployer pension system, then it won't matter how much money we throw at this problem.
Warning that without reform, pension issues will persist regardless of funding.
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Composite plans are not intended to replace defined benefit plans, but are intended to be an alternative to the 401(k) defined contribution plan.
Workers and retirees must have peace of mind when it comes to their hard-earned retirement benefits.
There is nothing fair or excusable about a 75-year-old retiree with health care concerns finding out that the pension he was promised just isn't funded.
We owe it to them to set aside our political differences and come to the table to find a bipartisan solution that secures their future.