Congress Creates Bipartisan Committee to Solve Pension Crisis
February 20, 2018
On Feb. 7, 2018, Sen. Sherrod Brown, D-Ohio, announced the creation of a bipartisan House and Senate Joint Select Committee (“Committee”) to deal with what has been called a “crisis” surrounding multiemployer pensions. A growing number of pension funds affecting an estimated 1.5 million union workers and retirees currently face shortfalls and potential insolvency.
The newly-formed Committee is tasked with producing a bill to solve this crisis by the final week of November 2018. Members of the 12-person Committee will be selected by House and Senate leaders with equal representation from Democrats and Republicans.
For further information, please contact LaborCompliance@castandcrew.com.
The proceeding information is provided for informational purposes only, should not be construed as or relied upon as legal advice and is subject to change without notice. If you have questions concerning particular situations, specific payroll administration or labor relations issues, please contact your counsel.