(The International Brotherhood of Teamsters issued the following news release on June 9.)
WASHINGTON — The International Brotherhood of Teamsters on Thursday lauded provisions in pension protection legislation introduced Thursday that are aimed at securing multi-employer plans. Millions of union members are counting on Congress to act this year to help secure their retirement futures.
The bill was introduced by House Education and Workforce Committee Chairman John Boehner (R-OH). A key co-sponsor is House Ways and Means Chairman Bill Thomas (R-CA).
“This legislation is a great first step,” General Presiden James P. Hoffa said. “We commend Chairman Boehner for taking on this difficult and important issue. Our coalition of unions and employers pledges to work with him to ensure that multi-employer pensions are secured to meet the retirement promises made to hard-working Americans now and in the future.”
Hoffa also praised Rep. George Miller (D-CA), ranking Democrat on the committee, for his leadership and his tireless efforts to fight for working families.
“Union members and their families have no greater champion than Representative Miller,” Hoffa said. “We hope that consensus can be reached in the coming weeks, because the time to act to safeguard multi-employer pensions is now.”
Almost 10 million people working for more than 60,000 employers are participants in 1,700 multi-employer pension plans. The Teamsters are part of a broad coalition of employers, employer associations, unions and multi- employer plans from a variety of industries fighting for comprehensive pension protection.
Founded in 1903, the International Brotherhood of Teamsters represents more than 1.4 million hardworking men and women throughout the United States and Canada.