IBEW Leaders Mobilize on Capitol Hill to Stop Multi-Employer Pension Plan Reform

December 10th, 2018

IBEW Leaders Mobilize on Capitol Hill to Stop Multi-Employer Pension Plan Reform

December 2, 2018 – Washington, D.C. – On November 27 to 29, IBEW Local 96 Business Manager Thomas Maloney joined with IBEW President Lonnie Stephenson and 200 IBEW business managers and pension trustees from throughout the U.S. to successfully head off an attack on Multi-Employer pension plans that Congress was considering during the current legislative session.

While in Washington, Business Manager Maloney met with Massachusetts Congressional delegation, including U.S. Representatives Joe Kennedy III, Seth Moulton, Jim McGovern and Richard Neal, lobbying against the pension reform which would have negatively impacted IBEW workers.

The proposal, initiated by the Joint Select Committee on the Solvency of Multi-employer to overhaul multi-employer pensions. If successful, Joint Select Committee proposal would have:

  • Taxed retirees’ pensions
  • Required active workers to pay much larger contributions to their pension funds
  • Changed the accounting rules pensions use to plan, increasing costs and uncertainty
  • Allowed for the creation of hybrid plans made up of pensions and defined contribution plans like a 401k that shift all the risk to workers, raise costs and will leave the original pension underfunded.

Read the complete story on the pension plan issue and the IBEW successful lobbying efforts:

IBEW Leaders Mobilize on Capitol Hill to Kill Pension Attack, For Now

IBEW International President Lonnie Stephenson’s letter to Local 96 Business Manager Thomas Maloney re: Multi-Employer Pension issue.


Upcoming Events

March 2019

Tuesday, March 26, 6pm – LU 96 Executive Board Meeting at Union Hall
Wednesday, March 27, 5pm – LU 96 Motorcycle Club
Thursday, March 28, 10am – LU 96 Retiree Group at Union Hall

April 2019

Monday, April 1, 6pm – LU 96 Union Member Meeting at Union Hall
Friday, April 12, 6pm – RENEW Committee at the Union Hall
Tuesday, April 23, 6pm – LU 96 Executive Board Meeting at Union Hall
Wednesday, April 24, 5pm – IBEW Local 96 Motorcycle Club
Thursday, April 25, 10am – LU 96 Retiree Group at Union Hall

           

International Brotherhood of Electrical Workers - Local Union 96 | 508-753-8635 | Fax: 508-754-8944 | 242 Mill Street, Worcester, MA 01602