I thank the gentleman for yielding, and I thank him for bringing forward this very solid amendment. We know that, under Republican administrations and Democrat administrations, departments are required by law to submit all kinds of reports, but there are no consequences, so they don't do it, and we have to do our job in the dark. I appreciate his recognizing this shortfall and for taking this step, and I support the amendment.
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Part of the way we need to approach these solutions is to adopt reforms that address the structural flaws within the plans.
Republicans and Democrats have a history of bipartisan cooperation on this issue.
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.
Composite plans are not intended to replace defined benefit plans, but are intended to be an alternative to the 401(k) defined contribution plan.
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