Pension Funding Relief Becomes Law

Jul 222010

July 21, 2010

The National Coordinating Committee for Multiemployer Plans reports that the enactment of the “Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010” on June 25 gives multiemployer plans “a substantial measure of funding relief.”

“The Act will provide meaningful funding relief to the vast majority of plans and therefore, to the thousands of companies that sponsor multiemployer pension plans,” according to the NCCMP. “Similar to many previous pieces of pension legislation, the Act contains several areas which could be open to multiple interpretations.”

Read the NCCMP’s analysis of the bill here.

Sen. Bob Casey Announces Pension Relief Bill

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Mar 232010

Sen. Bob Casey Announces Pension Relief Bill

March 23, 2010

(CARLISLE, Pa.) – Teamster truck drivers were the first to hear Sen. Bob Casey’s plan to stabilize multi-employer pension plans and save thousands of jobs.

They were on hand March 22 at the YRCW loading dock in Carlisle, Penn., where Casey announced that he would file the “Create Jobs and Save Benefits Act of 2010.”

The bill is extremely important to the Teamsters, who have been working with Sen. Casey on it. It’s similar to a House bill that the Teamsters already support, The Preserve Benefits and Jobs Act.

That bill was introduced in the House of Representatives by Reps. Earl Pomeroy, D-N.D., and Pat Tiberi, R-Ohio. Teamsters have sent thousands of e-mails to Congress urging their elected representative to pass the Pomeroy-Tiberi bill.