Proposal by Senators Chuck Grassley and Lamar Alexander Must Provoke Bipartisan, Bi-Cameral Measures that Also Provides Greater Multiemployer Plan Flexibility

The chief executive officer of the Associated General Contractors of America, Stephen E. Sandherr, issued the following statement today in reaction to the release today of the Multiemployer Pension Recapitalization and Reform Plan by Senators Chuck Grassley and Lamar Alexander:

“Senators Grassley and Alexander have taken a vital step in prompting a much-needed debate about the best way to address the challenges facing a number of multiemployer retirement plans. These challenges run the risk of needlessly punishing retirees, current workers and employers in a way that would harm the broader economy. Ultimately, any final legislation must provide employees and employers with viable options for addressing pension funding shortfalls and greater plan flexibility.”