Retirement Security Coalition: Action on Miner Pension Bill Important Step Toward Solving the Much Larger Crisis

Source: Retirement Security Coalition

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WASHINGTON – In response to Senate Majority Leader Mitch McConnell’s (R-KY) decision to join with Senators Joe Manchin (D-WV) and Shelley Moore Capito (R-WV) on the Bipartisan American Miners Act of 2019, the Retirement Security Coalition issued the following statement:

“Mining companies belong to a large and diverse group of employers who are up against a multiemployer pension crisis that will ultimately affect millions of Americans. While we commend Congress on working to secure the miner pension system, they must not forget about the larger multiemployer pension crisis – miners are just the tip of the iceberg.

“Millions of blue-collar workers, including miners, construction workers, truck drivers, bakers, musicians, and more, are seeing their retirement security threatened. Hard-working Americans nationwide are already facing severe cuts to their pensions – money they depend on to live. We cannot afford to continue down the current trajectory. To avoid the loss of billions in retirement dollars, tax revenue, and reduced GDP, Congress must come together on an urgent bicameral, bipartisan solution that addresses the entire multiemployer ecosystem.”

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About the Retirement Security Coalition:

Comprised of a diverse group of employers, labor unions, and policy experts dedicated to finding a common-ground solution to the multiemployer pension crisis, the Retirement Security Coalition is urging a bipartisan compromise to reinvigorate the multiemployer pension plan system in America. To learn more about the Coalition’s efforts to protect millions of Americans’ hard-earned retirement futures, please visit www.RetirementSecurityCoalition.com.