A bipartisan, yet controversial, effort to help stabilize the retirement futures for Americans through a substantial reform of the multiemployer pension plan system passed through the House this week.

On Dec. 11, pension system amendments added to the House’s $1.1 trillion spending bill – otherwise known as the Consolidated and Further Continuing Appropriations Act of 2015 – passed in a House floor vote. According to the multiemployer pension reform agreement, first introduced by Reps. John Kline (R-Minn.) and George Miller (D-Calif.), the amendments are not only meant to protect the future of the Pension Benefit Guaranty Corporation – the primary federal stopgap for high-risk pensions – but also the multiemployer retirement system.

Register or login for access to this item and much more

All Employee Benefit News content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access