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 Houses $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.
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