WebFeb 11, 2024 · The House Ways and Means Committee has included a pension reform provision in a COVID-19 relief bill that would create a special financial assistance program to help multiemployer pension plans and extend amortization periods for single-employer plans. The Butch Lewis Emergency Pension Plan Relief Act of 2024, which is included … WebThe current Butch Lewis Act provides a bailout to fund multi-employer pension plans for 30 years. The bill restores pensions to their full amount and increases the national …
Butch Lewis Brings No Good News for Contributing Employers
WebDec 11, 2024 · The Butch Lewis Act makes clear its intent to stand behind 100 percent of promised multiemployer pension benefits, even reinstating benefits that have already been reduced. Thus, the bill’s long ... WebApr 13, 2024 · President Biden signed H.R. Res. 7 into law on April 10, 2024, after Congress jointly introduced H.R. Res. 7 as a one-line action to end the NE, effective immediately. The consequence is that the applicable end of the transition relief is now June 9, 2024 (60 days following April 10, 2024) instead of July 10, 2024, as previously … mario calvetti
Parliamentarian To Decide Fate Of Multiemployer Pension Reform In The ...
WebDec 6, 2024 · The Butch Lewis Emergency Pension Plan Relief Act is legislation to help severely financially troubled multiemployer plans meet their benefit obligations to retired participants. It was included as part of the American Rescue Plan Act of 2024, which … WebJan 10, 2024 · The one thing lawmakers have to do by law before they end the 2024 session is approve a balanced budget. The state has had record tax collections for about 18 … WebJul 6, 2024 · And that’s the promise I’ve kept when I — I included the Butch Lewis Act in the American Rescue Plan. (Applause.) Now, multi-employer plans will remain solvent for decades to come at least ... mario calvo arellano