U.S. House of Representatives to Vote on Butch Lewis Act
The House of Representatives is scheduled to vote on the Rehabilitation for Multiemployer Pensions Act, also known as the “Butch Lewis Act,” this Wednesday, July 24. If the House passes this legislation, it will next need to be considered by the Senate.
This bill would provide low-interest government loans to struggling multiemployer pension funds, including the AFMEPF. If necessary, these loans can be coupled with additional financial assistance from the Pension Benefit Guaranty Corporation. The bill would provide a multiemployer fund with enough money to pay current retirees and beneficiaries their benefits for life, which would allow the fund to grow back to stronger financial footing.
We encourage participants to contact their Members of Congress and tell them to support HR 397, the Rehabilitation for Multiemployer Pensions Act.