NQ1965
PR Elite
So now, the Democratic Leadership has drawn anger from the Unions. (IBEW, IAM, and others)
To stay true to form, of "never letting a crisis go to waste" thinking, the party, (and probably the Repubs as well), are stuffing a bunch of "wish list" B.S. into this 2nd stimulus bill being negotiated in Congress. And this has nothing to do with the coronavirus epidemic ! ! !
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Protect Our Pensions - Weed Out the GROW Act!
IBEW International President Stephenson Urges Members To Contact Congress In Opposition To The GROW Act In a letter dated July 23, 2020, President Lonnie Stephenson directed business managers and local officers to get the word out to IBEW members – multiemployer pension plans like ours are in jeopardy again, due to an act that is part of the new stimulus package in Congress.
We oppose the GROW Act, the composite multi-employer pension proposal buried in the HEROES Act.
Composite plans will put worker and retiree benefits at risk. They would undermine existing plans and put our pension plan in danger.
They also threaten the Pension Benefit Guaranty Corporation, the agency created as a backstop for troubled pension plans.
Composite plans would drain money from existing pension plans to pay for new composite plans.
But composite plan legislation would further harm workers in the middle of a deepening economic calamity.
We strongly urge Speaker Pelosi to pull the GROW Act out of the HEROES Act before it’s voted on.
To stay true to form, of "never letting a crisis go to waste" thinking, the party, (and probably the Repubs as well), are stuffing a bunch of "wish list" B.S. into this 2nd stimulus bill being negotiated in Congress. And this has nothing to do with the coronavirus epidemic ! ! !
=============================================
Protect Our Pensions - Weed Out the GROW Act!
IBEW International President Stephenson Urges Members To Contact Congress In Opposition To The GROW Act In a letter dated July 23, 2020, President Lonnie Stephenson directed business managers and local officers to get the word out to IBEW members – multiemployer pension plans like ours are in jeopardy again, due to an act that is part of the new stimulus package in Congress.
We oppose the GROW Act, the composite multi-employer pension proposal buried in the HEROES Act.
Composite plans will put worker and retiree benefits at risk. They would undermine existing plans and put our pension plan in danger.
They also threaten the Pension Benefit Guaranty Corporation, the agency created as a backstop for troubled pension plans.
Composite plans would drain money from existing pension plans to pay for new composite plans.
- Shifting contributions leaving neither plan with enough money to pay promised benefits.
- Both the existing plan and the composite plan would lack sufficient resources
- Workers and retirees would be subject to massive benefit cuts.
But composite plan legislation would further harm workers in the middle of a deepening economic calamity.
We strongly urge Speaker Pelosi to pull the GROW Act out of the HEROES Act before it’s voted on.
