Senators Grassley and Alexander Release Multiemployer Pension Reform Proposal

November 21, 2019

U.S. Senators Charles Grassley (R-IA) and Lamar Alexander (R-TN) yesterday released a proposal that would provide financial relief to troubled multiemployer pension plans and make some structural changes to the multiemployer pension system. Sens. Grassley and Alexander are chairmen of the Senate Finance and Senate Health, Education, Labor and Pensions Committees, respectively. We are encouraged to see activity in the Senate to try to address the nationwide multiemployer pension crisis.

Read More

What You Need to Know About the Pension Benefit Guaranty Corporation (PBGC)

October 16, 2019

As announced earlier this year, the AFM-EPF Trustees and the Plan's advisors are preparing an application to the U.S. Treasury Department to reduce benefits under the Multiemployer Pension Reform Act (MPRA). These benefit reductions are necessary to prevent the AFM-EPF from running out of money to pay benefits in the future. By putting the Plan on stronger financial footing, we are taking the steps necessary for the Plan to be around to pay benefits to current and future retirees for decades to come.

Read More

The MPRA Process and Timeline for Benefit Reductions

September 19, 2019

As we informed participants in May, the Trustees and the Fund's advisors are preparing an application to the U.S. Treasury Department to reduce benefits under the Multiemployer Pension Reform Act (MPRA). These benefit reductions are necessary to prevent the AFM-EPF from running out of money to pay benefits in the future. By putting the Fund on stronger financial footing, we are helping to ensure that the Fund will be around to pay benefits to current and future retirees for decades to come.

Read More

U.S. House of Representatives Passes Butch Lewis Act

July 25, 2019

Yesterday evening, the U.S. House of Representatives passed the Rehabilitation for Multiemployer Pensions Act, also known as the "Butch Lewis Act." This bill would provide low-interest government loans to struggling multiemployer pension funds, including the AFM-EPF. If necessary, these loans can be coupled with additional financial assistance from the Pension Benefit Guaranty Corporation. The bill would provide sufficient money for these funds to pay benefits to current retirees and beneficiaries for life, while allowing the funds to grow back to stronger financial footing.

Read More

U.S. House of Representatives to Vote on Butch Lewis Act

July 23, 2019

The House of Representatives is scheduled to vote on the Rehabilitation for Multiemployer Pensions Act, also known as the "Butch Lewis Act," this Wednesday, July 24. If the House passes this legislation, it will next need to be considered by the Senate.

Read More


7/15
Page 7 of 15First   Previous   2  3  4  5  6  [7]  8  9  10  11  Next   Last