NORTH AMERICA’S BUILDING TRADES UNIONS SUPPORTS PRINCIPLES FOR MULTIEMPLOYER PENSION REFORM
PRINCIPLES RELEASED TODAY BY U.S. CHAMBER OF COMMERCE AND NATIONAL COORDINATING COMMITTEE FOR MULTIEMPLOYER PLANS
March 14, 2018
FOR IMMEDIATE RELEASE
WASHINGTON, DC – North America’s Building Trades Unions (NABTU) issued the following statement upon today’s release of the “Principles for Multiemployer Pension Reform” by the U.S. Chamber of Commerce (Chamber) and the National Coordinating Committee for Multiemployer Plans (NCCMP):
“NABTU stands behind the Principles for Multiemployer Pension Reform released today by the Chamber and NCCMP. The principles smartly lay out a roadmap for lawmakers assigned to the newly-created Joint Select Committee on the Solvency of Multiemployer Pension Plans, as they work to find a sustainable, responsible path forward in solving our nation’s pension crisis.
“As the Joint Pension Committee identifies recommendations to bolster the solvency of endangered multiemployer plans and, ultimately, find a bipartisan legislative fix to the looming pension crisis, members must recognize the sense of urgency in this task.
“More than 10 million men and women participate in these plans. If Congress fails to get the job done, the retirement savings of more than one million retirees – middle-class Americans who most certainly deserve retirement security – are on the line.
“Protecting our members’ financial wellbeing – both in the short- and long-term – is one of NABTU’s top priorities. NABTU thereby endorses the Principles of Multiemployer Pension Reform put forward today by the Chamber and NCCMP, as they will ensure the security of our brothers’ and sisters’ hard-earned pensions.
“NABTU urges the Joint Pension Committee to keep these principles top of mind as they take on pension reform – and, alongside the Chamber and NCCMP, calls on Congress for immediate action.”
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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