U.s. Senator Tammy Baldwin Calls On Trump Administration To Protect Worker And Retiree Pensions

Press Release

U.S. Senator Tammy Baldwin joined a group of 14 Senators, led by Senator Debbie Stabenow (D-MI), in outlining the importance of protecting pensions for workers and retirees. The Senators requested information from the Administration on its plan to address critical issues in the multiemployer pension system.

"As you may know, millions of American workers and retirees - through no fault of their own - are at risk of losing a substantial portion of their pensions because their plans are at imminent risk of becoming insolvent and being unable to pay earned benefits on time and in full," wrote the Senators. "Some multiemployer pension plans across the country, including Central States with its more than 400,000 participants, are in dire financial situations."

"Accordingly, we write to request clarity regarding the Administration's plans to address critical issues in the pension system:

-Does the Administration intend to release a plan to protect American workers and retirees and improve the security of our multiemployer pension system? If so, what is the timeline for the release of this plan?

-Do you commit to making your participation on the PBGC's Board of Directors a priority?

-Does the Trump Administration intend to work with pension plans to improve their funding before the plans approach insolvency?"

The letter was sent to Secretary of the Treasury Steven Mnuchin, Secretary of Labor Alexander Acosta, and Secretary of Commerce Wilbur Ross and signed by the following Senators, in addition to Senators Stabenow and Baldwin: Gary Peters (D-MI), Claire McCaskill (D-MO), Amy Klobuchar (D-MN), Ron Wyden (D-OR), Al Franken (D-MN), Dick Durbin (D-IL), Sherrod Brown (D-OH), Patty Murray (D-WA), Tammy Duckworth (D-IL), Joe Donnelly (D-IN), Bob Casey (D-PA), and Heidi Heitkamp (D-ND).

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