Retirement Security Coalition: Congress Leaves Millions of Retirees Across the Country Without a Solution

Source: Retirement Security Coalition

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The Time is Now to Fix the Broader Pension Crisis

Washington, D.C. – In response to the U.S. House of Representatives’ inclusion of the miners pension provision in its end of year spending package, the Retirement Security Coalition issued the following statement:

“The miners’ pension fund is only one of more than 125 multiemployer retirement plans that are failing now. This crisis affects millions of Americans – miners, construction workers, truck drivers, bakers, musicians, — who earned a retirement in which they will now not be able to live on.

“We are fighting an epidemic that will continue to spread if left unaddressed. Without a solution to the larger multiemployer pension crisis, retirees and American workers are at risk, and the health of the American economy is vulnerable.

“This holiday season, millions of blue-collar workers are experiencing severe cuts to their pensions, threatening their financial security. We cannot afford to continue down this 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 to address 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.