WASHINGTON – Sen. Chuck Grassley (R-Iowa), a senior member and former chairman of the Senate Finance Committee, reintroduced the Chris Allen Multiemployer Pension Recapitalization and Reform Act.The legislation is based on a 2019 proposal to avert the collapse of critically underfunded multiemployer pension plans and reform rules for these plans to prevent future funding shortfalls … Older . The U.S. Senate recently released a proposal to provide relief to certain multiemployer pension plans and to provide reforms to prevent future funding shortfalls. The Butch Lewis Act. Statement Regarding Multiemployer Pension Reform Proposal. The legislation is an essential step to help secure the retirement security of more than 1.5 million workers and retirees nationwide. (WASHINGTON) – The U.S. House of Representatives voted today to pass H.R. 1. respectfully submits the following comments on the . the latest COVID-19 relief bill) may include multiemployer pension relief that would provide underfunded multiemployer pension plans with sufficient monies from the Treasury Department to pay for all accrued benefits owed to retirees, without reduction, through the plan year ending in 2051. The legislation goes to the Senate, which could vote on the proposal later this week. February 2021 Participant Update Newsletter #2. You can always check the International Foundation Multiemployer Pension Reform Act (MPRA) page for updates, but here are four things I have on my radar—including the very latest on the Butch Lewis Act.. 1. Legislation to help struggling multiemployer pension funds is to remain in the COVID-19 relief measure headed for a Senate vote this week. Seyfarth Synopsis: On Monday, the Senate Parliamentarian ruled that the multiemployer pension plan bailout provisions in the $1.9 trillion American Rescue Plan (a.k.a. News. Seyfarth Synopsis: If the Senate Parliamentarian blesses it, the $1.9 trillion American Rescue Plan (a.k.a. Updated: July 25, 2019:The Rehabilitation for Multiemployer Pensions Act (HR 397), also … James Chase November 20, 2019. Voices for Pension Security. Pension Relief Plan in COVID-19 Stimulus Bill That Passes House. Multiemployer Pension Recapitalization and Reform Plan (“the Proposal”) released on November 20, 2019. Senators Release Multiemployer Pension Reform Proposal Nov 21, 2019 Senate Finance Committee Chair Chuck Grassley (R-IA) and Senate HELP Committee Chair Lamar Alexander (R-TN) released their comprehensive pension reform proposal on November 20. By Bolton • December 31st, 2019. Central States Pension Fund. 397, the Rehabilitation for Multiemployer Pensions Act, more commonly referred to as The Butch Lewis Act. The package also calls for … 2019.07.25. The Multiemployer Plans Committee of the American Academy of Actuaries. Many so-called multiemployer pension plans are on the brink of running out of money. Wondering about the latest multiemployer pension reform updates? The Multiemployer Pension Recapitalization and Reform Plan (Reform Plan), a legislative proposal released on November 20, 2019, would revamp the laws that apply to multiemployer defined benefit pension plans — if it is enacted into law in its current form. Multiemployer Pension System Reform. Read More. Check back for the latest news about the multiemployer pension crisis and our campaign to protect your pension benefits. The House passed its answer to that problem, the Rehabilitation for Multiemployer Pensions Act, …