Funding relief for multiemployer pension plans continues to be a high priority for SMACNA’s lobbying efforts.
After a successful effort to get a provision for multiemployer plans into the Senate’s Pension Funding Equity Act (H.R. 3108), the battle has moved back to the House. The Senate and the House have both appointed conferees to iron out the differences between the two versions.
An obstacle to gaining support for multiemployer pension funding relief has been a lack of understanding about how multiemployer plans work and the impact on employers. To help educate and clear up some misconceptions, SMACNA cosponsored a briefing session for House staff members. In the session the details of the Senate provision that would offer multiemployer plans the option of temporarily suspending the recognition of recent investment losses were explained. The session was well-attended and the panelists fielded many questions. SMACNA cosponsored a similar education session for Senate staffers earlier this year.
Republican House members and conferees need to hear from you. See the Washington Alert at www.smacna.org or call SMACNA’s Capitol Hill office at (202) 547-8202 for more information.