The Rehabilitation for Multiemployer Pensions Act (known as the Butch Lewis Act) was passed by the House on July 24, 2019 and introduced to the Senate. On November 20, Senators Charles E. Grassley (R-IA) and Lamar Alexander (R-TN) released a proposal called the Multiemployer Pension Recapitalization and Reform Plan (Reform Plan).
The two bills are quite different. Click here for comparisons of certain key components that will most interest plan sponsors, at least immediately.
Other provisions of the Reform Plan exist and may have a relevant impact on your plan. For more information, contact Brad Rigby at 412.394.9980 or bradr@cowdenassociates.com.