Senator Alexander Appointed to Joint Select Committee on the Solvency of Multiemployer Pension Plans

Senator Alexander Appointed to Joint Select Committee on the Solvency of Multiemployer Pension Plans

WASHINGTON, February 27, 2018—United States Senator Lamar Alexander (R-Tenn.), Chairman of the Senate labor committee, issued the following statement on his appointment by Senate Majority Leader Mitch McConnell (R-Ky.) to the Joint Select Committee on the Solvency of Multiemployer Pension Plans:

“I look forward to working with other committee members to find responsible solutions to help protect Americans’ retirement security. This Committee will be charged with the significant task of protecting taxpayers while helping ensure future solvency of the pension safety net and retirement security for workers and retirees that has been threatened because many multiemployer plans won’t be able to pay for the promises made by unions and employers.”

Background:

• Senator Alexander was appointed by Majority Leader McConnell to serve on the Joint Select Committee on the Solvency of Multiemployer Pension Plans.
• The Joint Select Committee, which consists of eight Members of the House and eight Members of the Senate, was established by the recently-enacted Bipartisan Budget Act of 2018.
• The Joint Select Committee is charged with providing legislative recommendations to enhance the financial condition of multiemployer pensions and the federal Pension Benefit Guaranty Corporation, the backstop for failed pension plans.
• The Joint Select Committee is required to hold public hearings and to vote on legislative recommendations by November 30, 2018.

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