Tuesday, March 06, 2018
Teamsters Call on Joint Select Committee to Move Quickly to Solve Pension Crisis
Following the announcement of the final members of Congress that will serve on the bipartisan, House-Senate Joint Select Committee on Solvency of Multiemployer Pension Plans tasked with finding a solution to the nation’s looming pension crisis, the Teamsters Union called for a commitment by the legislators to report a bill as soon as possible, and not wait until the November deadline.
The retirement security of as many as 1.5 million active and retired workers could be at risk if pension legislation is not passed soon. The committee, which is comprised of eight senators and eight members of the House evenly divided by party, will work toward reporting a bill to solve the pension crisis. The Teamsters Union supports the passage of the Butch Lewis Act of 2017 (H.R.4444/S.2147) which was introduced in Congress last November by Sen. Sherrod Brown (D-OH) and Rep. Richard Neal (D-MA) and has received bipartisan support.
“Now that party leadership has appointed the members of Congress who will serve on the committee it is time to get to work,” said Teamsters General President Jim Hoffa. “Millions of active and retired workers can’t wait until November for this committee to act. We already have a strong piece of legislation already in Congress in the Butch Lewis Act and the Teamsters Union believes it offers the best solution to the pension crisis.”