In 2011, staff members from the relevant committees of the U.S. House and Senate approached DeFrehn’s group to come up with legislative recommendations. NCCMP formed a Retirement Security Review Commission, composed of dozens of representatives from more than 40 unions, union employer groups, and pension plans. After more than a year of study and debate, the Commission published a report: “Solutions not Bailouts: A Comprehensive Plan from Business and Labor to Safeguard Multiemployer Retirement Security, Protect Taxpayers and Spur Economic Growth.” Congress bails outs bankers, but balks at bailing out pensioners The Commission and its report start from the assumption that union pensions will have to rescue themselves. Congress bailed out the banks. It bailed out General Motors. But when it comes to union retirees, DeFrehn says Congressional leaders told him not to expect any government bailout.
Posted on: Sat, 16 Nov 2013 21:15:33 +0000