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

July 2019

Wednesday, July 31, 5pm – LU 96 Motorcycle Club at the Union Hall

August 2019

Friday, August 5, 5pm – RENEW Committee at the Union Hall
Monday, August 5, 6pm – LU 96 Union Member Meeting at the Union Hall
Tuesday, August 13, 5pm - Building Corp. Meeting at the Union Hall
Tuesday, August 27, 6pm – LU 96 Executive Board Meeting at the Union Hall
Wednesday, August 28, 5pm – LU 96 Motorcycle Club at the Union Hall

September2019

Monday, September 9, 5pm – RENEW Committee at the Union Hall
Monday, September 9, 6pm – LU 96 Union Member Meeting at the Union Hall
Friday, September 13, 6pm – RENEW Committee at the Union Hall
Tuesday, September 24, 6pm – LU 96 Executive Board Meeting at the Union Hall
Thursday, September 26, 10am – LU 96 Retiree Group at the Union Hall
Wednesday, September 25, 5pm – LU 96 Motorcycle Club at the Union Hall

           

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