Teamster pension activists – organized by the National United Committee to Protect Pensions (NUCPP) - are collecting signatures on a petition to build support for legislation that would protect 10 million Americans from pensions from cuts. Sign the petition in support of the Butch Lewis Act.
These signatures will be delivered to legislators in December.
The Butch Lewis Act of 2017, S. 2147 and H.R. 4444 will restore solvency to pension plans and financial security to working families by allowing pension plans to borrow the money they need to remain solvent and continue providing retirement security for retirees and workers for decades to come.
The money would come from the sale of Treasury-issued bonds to financial institutions. The bill puts safeguards in place to prevent plans from borrowing more than they can pay back, or for using borrowed funds to make risky investments, helping them get back on solid footing.
Any remaining gap in needed funds would be provided by the Pension Benefit Guaranty Corporation (PBGC). Based on current funding, both the PBGC and the Central States Pension Fund predict they will be bankrupt by 2025.
Sign the petition in support of the Butch Lewis Act.