Retirement Security Coalition Applauds Efforts to Set the Stage for Bipartisan Compromise This Year

Source: Retirement Security Coalition

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Senators Grassley, Alexander Release Draft Proposal Aimed at Fixing Multiemployer Pension Plans

WASHINGTON, DC – Today, Retirement Security Coalition (RSC) Co-Chairs Former Speaker John Boehner and Former Chair of the House Democratic Caucus Joe Crowley made the following comments after U.S. Senators Chuck Grassley (R-IA) and Lamar Alexander (R-TN) released a draft proposal aimed at addressing the country’s multiemployer pension crisis:

“Senator Grassley and Senator Alexander’s release of a draft multiemployer pension proposal is the latest indication of the building momentum in America to protect millions of retirees and workers who are at risk of losing their pension benefits,” said RSC Co-Chair Former Speaker John Boehner. “This is a step in the right direction to protect blue collar American workers across the country. Inaction is not an option. It is imperative that we come together on a bipartisan, bicameral solution to fix the multiemployer pension crisis before the end of this year.”

“Whether it’s the truckers in New York, who are now collecting half of the $1,313 monthly benefit they have earned, or the roofers in Ohio, who are facing benefit reductions that average over 30 percent, pension plans have been forced to make the impossible choice between drastically cutting benefits to stay afloat or running out of money entirely,” said RSC Co-Chair and Former Chair of the House Democratic Caucus Joe Crowley. “And to underscore the urgency, in a recent poll, we found that 8 in 10 voters (82%) agree there is no simple solution and all parties involved need to come together to find a long-lasting shared solution to the multiemployer pension crisis now.”

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.

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