Washington Post Editors Call Multiemployer Pension Reform the “Public Policy Problem from Hell”
The Washington Post editorial board penned an op-ed last Thursday, which referred to multiemployer pension plans as the “public policy problem from hell.” The editors noted that the federal government considers about 1/10th of the nation’s 1,400 multiemployer pension plans to be “at-risk” with liabilities around $52.6 billion as of 2018.
The editorial lays out the multiemployer pension issue pretty succinctly and notes that any solution to the crisis would have to be bipartisan and “would require business, labor and taxpayers to shoulder costs they would rather not pay.”
The editorial also said that the draft legislation produced by the Joint Select Committee (JSC) was “…hardly pain-free or perfect, [but] the proposal had the virtue of realism and, in rough terms, fairness.” This editorial is important in that it raises awareness of an issue of which, as we said above, many staffers on the Hill do not yet have a firm understanding.
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