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Posts Tagged ' h.r. 397'

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Controversial Multiemployer Pension Plan Bill Advances in Congress

On July 24, the U.S. House of Representatives passed the Rehabilitation for Multiemployer Pensions Act (H.R. 397) by a vote of 264-169 with 29 Republicans supporting the majority. Advocates argue the measure is needed to protect the pensions of 1.3 million workers in certain multiemployer pension plans and prevent the collapse of the Pension Benefit Guaranty Corporation, while critics maintain the legislation is a taxpayer-funded bailout of MEPPs and does little to address the fundamental structural flaws of MEPPs.