The Teamsters are applauding the House Ways & Means Committee’s inclusion of a multiemployer pension reform measure in a broader stimulus package introduced by the panel yesterday.
In unveiling language included in the Butch Lewis Emergency Pension Plan Relief Act of 2021, the House panel took the first step towards ensuring that millions of retirees and active workers who have played by the rules will receive the pension benefits they earned through years of hard work.
“The financial distress many of these plans are facing is beyond the control of retirees and workers,” Teamsters General President Jim Hoffa said. “While multiemployer pension plans have been buffeted by economic turbulence over the decades, the situation has been seriously exacerbated by the current pandemic.”
Author(s): International Brotherhood of Teamsters
Publication Date: 9 February 2021
Publication Site: PR Newswire