Congress will vote Thursday on a $1.1 trillion spending planthat includes a provision to help out the Pension Benefit GuarantyCorp. by letting financially ailing multiemployerpension plans cut retiree benefits for the first time in 40years.
Opponents to the provision were trying to get additional Housemembers to oppose the last-minute 161-page bill, which was attachedto the massive spending plan during a lame-duck session ofCongress.
The current Congress was scheduled to adjourn Thursday, and thespending bill must be approved in order to keep the governmentrunning. There is a possibility that Congress could pass acontinuing resolution which would keep the government open untilthe end of the week, which would give legislators more time forlegislative proposals.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
