Legislation offers workable solution to multiemployer plan underfunding

Pensions & Investments
July 13, 2015

Your June 29 editorial, “Defying economic reality,” does your readers a disservice by failing to accurately inform them about the Keep Our Pension Promises Act of 2015.

This legislation, introduced by Sen. Bernie Sanders, Rep. Marcy Kaptur and 11 other congressional co-sponsors, offers an economically workable solution to the cash-flow problems faced by severely troubled multiemployer plans, including the Teamsters Central States, Southeast and Southwest Areas Pension Fund. At the same time, it protects the hard-earned pensions of 1.5 million employees and retirees whose benefits could otherwise be cut by the hastily enacted and ill-considered provisions of the Multiemployer Pension Reform Act of 2014.

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