All hard-working Americans should share in the American dream of living their golden years without fear of bankruptcy or poverty. But with pensions, Social Security and key financial reforms under attack many questions remain about whether that will be a reality for millions who are approaching retirement age. Congress must take steps to guarantee that those who played by the rules and were promised retirement benefits have financial security when their working days have ended. The Teamsters Union opposed the Multiemployer Pension Reform Act of 2014. Reinstating the anti-cutback rule and identifying policies that will ensure the long-term health of our nation’s multiemployer pension system is our highest legislative priority. To that end, the Teamsters Union supports the Keep our Pension Promises Act which would protect retirees from cuts to their earned pension benefits by reinstating the ERISA anti-cutback rule. The Teamsters Union also supports the Pension Accountability Act which gives retirees the opportunity to make their voices heard through a binding vote on proposed cuts to their pension benefits.
IBT statements of support for S. 2146/H.R. 4029 the Pension Accountability Act