Multiemployer pension backstop plan advances on Capitol Hill

Sources: Associated Builders & Contractors, Washington, D.C.; CP staff

Just ahead of its August recess, the U.S. House of Representatives passed the Rehabilitation for Multiemployer Pensions Act (H.R. 397), with 29 Republicans joining the majority in a 264-169 vote. Advocates argue the measure is needed to protect the pensions of 1.3 million workers in certain multiemployer pension plans (MEPP)—up to half of which cover construction trades participants—and prevent a Pension Benefit Guaranty Corporation (PBGC) collapse. 

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