Composite Plan Actuarial Study WCT July 2020 - No on GROW Act
It is anticipated that the United States Congress and Trump Administration will consider a final pandemic stimulus bill in the coming weeks. One of our major concerns is the potential inclusion of the Give Retirement Options to Workers (GROW) Act, which would allow multiemployers pension trustees to divert contributions from an existing defined benefit multiemployer pension plan to a new composite plan with inferior benefits and not enough money to fund both plans. The GROW Act would subject workers and retirees to dramatic benefit cuts and allow employers to leave existing plans without paying their share of the plans' liabilities.
To better understand the threat that composite plans pose to IBEW-sponsored multiemployer pensions, please read the below study recently published by the Western Conference of Teamsters.
We encorage you ALL to reach out to your Oregon and Washington U.S. Senators and U.S. House Representatives - Sample Letters and Contact information provided below.
Composite Plan Actuarial Study WCT July 2020
Oregon and Washington U.S. Senators and U.S. House Representatives Contact Information
