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Preliminary Proposal from the Joint Select Committee on Solvency of Multiemployer Pension Plans

Tomorrow, November 30, 2018, is the deadline for the Joint Select Committee on Solvency of Multiemployer Pension Plans (JSC) to vote on and propose new legislation that attempts to solve the multiemployer pension crisis. The JSC held several hearings during the first half of 2018 to better understand the current crisis and gain perspectives from all stakeholders. From those discussions, it appeared that low-interest, government-backed loans would be part of the proposed solution or the solution itself. However, there is much opposition to loan programs (especially as the only option), with many chalking them up to be a bailout of poorly funded plans at the expense of healthy plans and taxpayers.

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