** Posted in Pension thread also

(WASHINGTON) – The following is a statement from Teamsters General President Jim Hoffa after the House Education and Labor Committee today approved H.R. 397, the Rehabilitation for Multiemployer Pensions Act, which would ensure the retirements of some 1.5 million Americans who have paid into such plans.

“After years of hard work by active and retired Teamsters, it is great to see the House Education and Labor Committee take the first step towards Congress ultimately protecting workers whose retirements are in jeopardy. This bipartisan bill, offered by Reps. Richard Neal (D-Mass.) and Peter King (R-N.Y.), is badly needed. As it stands, there are more than 300 multiemployer plans that are in danger of failing.

“Now it’s time for the rest of Congress to follow suit and deliver for these hardworking Americans who are paying, or have paid, into the pension pool and have played by the rules all their lives. Lawmakers need to show a united front when it comes to standing up for workers who make up the backbone of this nation.”
https://teamster.org/news/2019/06/ho...reform-measure