Hatch, Brown Announce Multiemployer Pension Plan Overview Hearing

WASHINGTON – Joint Select Committee on the Solvency of Multiemployer Pension Plans Co-Chairmen Orrin Hatch (R-Utah) and Sherrod Brown (D-Ohio) today announced they will convene a hearing on Wednesday, April 18, to provide an overview of the multiemployer pension system. The hearing will take place at 2 p.m. in Dirksen Senate Office Building Room 215.

“The multiemployer pension system covers approximately 10 million workers and impacts small businesses and employers across the country,” Hatch said. “A number of the country’s biggest multiemployer pension plans are approaching insolvency, which poses a threat of small businesses going bankrupt, retirees seeing their benefits cut, and taxpayers getting stuck footing the bill. This hearing will provide an overview of how multiemployer pensions work and who could be affected if these plans fail, and it will serve as a starting point for committee members as we work to craft bipartisan legislation to address these problems.”

“This overview hearing will help shine a light on what’s at stake as the Committee works to solve the pension crisis for the 1.5 million workers and retirees and countless businesses around the country who are counting on us,” said Brown.

The witness at Wednesday’s hearing will be:

• Mr. Thomas Barthold, Chief of Staff, Joint Committee on Taxation

• Mr. Ted Goldman, MAAA, FSA, EA, Senior Pension Fellow, American Academy of Actuaries

Who: Joint Select Committee on Pensions

What: Multiemployer Pension System Overview Hearing

Where: 215 Dirksen Senate Office Building

Washington, D.C. 20510

When: Wednesday, April 18, 2018

2 p.m.

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