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Multiemployer pension committee pledges to be bipartisan

A Congressional committee has begun the process for writing legislation that may rescue as many as 200 collectively bargained pension plans from insolvency.

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The bipartisan multiemployer pension plan reform committee has the support of the U.S. Chamber of Commerce. Several Democrats on the committee echoed the Chamber’s warning over collateral damage to the overall economy if multiemployer plans are not rescued. (Photo: AP)

A select, bipartisan committee on multiemployer pension reform held the first of at least five public hearings today, initiating the process for writing legislation that may rescue as many as 200 collectively bargained pension plans from insolvency.

The select committee was created under the Bipartisan Budget Act of 2018 last month, and includes eight Republicans and eight Democrats—four members from each party in each chamber of Congress.

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Nick Thornton

Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.

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