NABTU Applauds Bi-Partisan Introduction of H.R. 4997, the GROW Act; Calls for Immediate Action by Congress
February 14, 2018
FOR IMMEDIATE RELEASE
Contact:
Tom Owens
202-756-4623
WASHINGTON, DC – The following statement was released today by North America’s Building Trades Unions (NABTU) upon the introduction of federal legislation to allow for the creation of composite plans for multiemployer pensions:
“NABTU thanks Representatives Phil Roe (R-TN) and Donald Norcross (D-NJ) for the introduction of H.R. 4997, the GROW Act. This bi-partisan bill is designed to ensure both the retirement security of American workers and the financial health of the job creating employers of America by strengthening and modernizing the multiemployer pension plan system.”
“While the Joint Select Committee will address those multiemployer plans at critical risk of insolvency today, the GROW Act offers an immediate way forward for Congress to safeguard the multiemployer system for tomorrow. The GROW Act allows plans that are healthy today to make structural changes, so they can continue to provide retirement security for American workers and their families in the years to come.”
“With over 10 million Americans participating in the multiemployer system, Congress should immediately seize the opportunity to enact this legislation in order to strengthen the system, ensuring certainty and security for these hardworking Americans, and providing a means for individual companies to avoid calamitous liability issues that could potentially put them out of business.”
“Every day that Congress waits to act, the problem is harder to solve. We applaud the bi-partisan cooperation of Representatives Roe and Norcross in confronting this challenge, and we strongly urge Congress to follow suit and enact this legislation without delay.”
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ABOUT NORTH AMERICA’S BUILDING TRADES UNIONS
North America’s Building Trades Unions is an alliance of 14 national and international unions in the building and construction industry that collectively represent over 3 million skilled craft professionals in the United States and Canada. Each year, our unions and our signatory contractor partners invest over $1 billion in private sector money to fund and operate over 1,900 apprenticeship training and education facilities across North America that produce the safest, most highly trained, and productive skilled craft workers found anywhere in the world.
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