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July 10, 2019

Multiemployer Pension Alert


Today, the House Committee on Ways and Means, chaired by Rep. Richard Neal (D-MA) and Ranking Member Rep. Kevin Brady (R-TX), will hold a Committee meeting to markup H.R. 397, Rehabilitation for Multiemployer Pensions Act, also known as the “Butch Lewis Act.” This legislation, if enacted, would offer a massive loan guarantee to plans currently facing insolvency in the multiemployer pension system.

In conjunction with the markup, many labor groups and activists, including the IBEW, will hold a rally in support of the legislation at the Capitol. In case you received any inquiries, please know that NECA chose not to participate in the demonstration supporting this particular legislation because it addresses only one singular part of the overall problem with the multiemployer pension system.

NECA remains committed to advocating for the inclusion of composite plans in any solution to the challenges facing the multiemployer system. In contrast to what is sure to be the Committee’s partisan passage of the Butch Lewis Act, we urge you to tell Congress to remain bipartisan and pass comprehensive legislation authorizing the use of composite plans to modernize the system. Allowing this option provides the keys to unlocking this growth and prosperity for businesses and employees alike and will strengthen and modernize the multiemployer system for the future.

The reality on the ground is that should the House pass the Butch Lewis Act by itself and on party lines, the legislation is unlikely to ever receive consideration on the Senate floor for a vote. NECA will continue to update you on the matter related to multiemployer pension crisis.
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