New legislation is now moving through Congress that would provide relief to struggling multiemployer pension plans, including the AFM-EPF. The Butch Lewis Emergency Pension Plan Relief Act of 2021 would provide us and these other plans with the funding needed to pay earned benefits for the next 30 years. By providing urgently needed funding, the aim of this legislation is to help financially struggling multiemployer plans avoid insolvency and put themselves on more solid financial footing for the next several decades.
Given that goal, the Trustees strongly support this legislation and have sent a letter to Congressional leaders urging its passage as part of the COVID-19 relief package. But, the policymakers in Washington DC must hear from you! Please contact your Members of Congress and The White House!
While our actuaries are currently studying more carefully the precise impact of this bill, it appears on its face to help address the AFM-EPF’s financial challenges for decades without the need for benefit reductions. If the actuaries’ analysis confirms our current understanding – and if the final bill passes without changes that would undermine its impact – the Trustees plan to withdraw our pending application to reduce benefits under the Multiemployer Pension Reform Act.
Here’s what you can do right now:
- Click here for more information and suggestions about what to say to your elected officials.
- Go to Govtrack.us and enter your address to identify your Members of Congress (two Senators and one House Representative).
- Call the U.S. Capitol switchboard at 202-224-3121 and follow the prompts to reach your Members’ offices. You will either reach a staff member or be asked to leave a voicemail.
- Click here to email your Members of Congress.
- Call The White House comment line at 202-456-1111.
- Go to WhiteHouse.gov/contact to send a comment by email.