Sisters and Brothters,

The republicans in the Senate have released their proposal for addressing Multiemployer Pension Plan issues. It is worse than the proposal received last year from the Joint Select Committee on Solvency of Multiemployer Pensions. If it passes it will cut benefits to retirees, raise premiums, and tax our healthy pensions. This proposal would decimate every multiemployer plan, including all of the IBEW’s.  The IBEW needs you to act now by calling or scheduling a meeting with your Senators and let them know you oppose this bill.

Tell the Senators you support the Butch Lewis Act, titled "The Rehabilitation for Multiemployer Pension Act," (H.R. 397). This legislation would create a low-interest federal loan program for troubled multiemployer pension plans. It’s a bipartisan compromise bill and nearly 30 Republicans voted for it in the House of Representatives. It is the best current proposal: it does not increase premiums and fees on healthy pension plans to support failing plans.

Butch Lewis is a loan program, not a bailout.

We need everyone to send their voice to Washington to make sure our message is heard loud and clear, so please call today!

In Solidarity

George Bland

Business Manager

The Multiemployer Pension Recapitalization and Reform Plan is proposed by Senators Charles Grassley of Iowa (chairman of the Senate Finance Committee) and Tennessee’s Lamar Alexander (Health, Education, Labor and Pensions Committee chairman).

It was released on November 20, 2019.

The introduction says: “The scale and scope of the underfunding in a large number of multiemployer plans is high. The costs of … reforms should be borne principally by the stakeholders within the multiemployer system.”[1]  CLICK HERE TO READ MORE

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