• Joint Select Committee on Solvency of Multiemployer Pension Plans

    The Joint Select Committee on Solvency of Multiemployer Pension Plans was formed in February 2018 to address the impending insolvency of a small subset of multiemployer pension plans, as well as projected insolvency of the Pension Benefit Guaranty Corporation’s Multiemployer Fund. However, since then their focus has expanded considerably to include all issues affecting multiemployer pension plans. We need to ensure that the Committee is able to provide meaningful tools to the plans currently facing insolvency, while not imposing additional cost or risk to the healthy plans that are currently succeeding in their mission to provide secure and reliable lifetime income to their participants, and providing Trustees of healthy plans with a new retirement security option in the form of the GROW Act.