Murray: “We cannot drag our feet and leave workers and retirees dangling in the face of a sudden cut to the pensions they have earned.”
(Washington, D.C.) – Today, U.S. Senator Patty Murray (D-WA), ranking member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, released the following statement urging Republicans to work with Democrats to address the multiemployer pension crisis in the next COVID-19 response package, after Republicans’ latest set of proposals offered no steps to address this critical issue.
“As this pandemic rages, the multiemployer pension crisis is also threatening to spiral out of control and plunge retirees across the country into further financial uncertainty at the worst possible time. We cannot drag our feet and leave workers and retirees dangling in the face of a sudden cut to the pensions they have earned.
“Democrats have offered a straightforward plan that would not only shore up struggling pension plans, but leave the healthy ones intact, put the Pension Benefit Guaranty Corporation on stronger financial footing, support single employer plans, and—most importantly—not cut the benefits people were promised. There is no reason we shouldn’t be able to work together on this, and there is absolutely no time to waste.”