SWACCA Submits Joint Letter in Support of Multiemployer Pension Reform
SWACCA has submitted a letter, along with the Associated General Contractors (AGC) and the other members of the Construction Employers of America (CEA) coalition, to the Committee on Ways and Means of the U.S. House of Representatives in support of urgent action to protect and strengthen the security of multiemployer pension plans.
The letter urges Congressional action this year, and that composite plans must be part of any multiemployer pension reform effort:
The composite plan concept incorporates the best features of defined benefit plans and defined contribution plans. Composite plans offer voluntary options to share risks, provide funding stability, provide lifetime income to participants, and limit employer obligations to negotiated contributions only, at no cost to the taxpayer.
Read the entire letter here.