One of the final pieces of legislation passed by the last Congress included provisions to help troubled multiemployer pensions and, it is hoped, shore up the Pension Benefit Guaranty Corp.
Called the Multiemployer Pension Reform Act of 2014, it lets employees and retirees approve cutting their own benefits to help plans avoid insolvency. The legislation had its critics, but there was much bipartisan as well as union-management support.
Among the leading advocates was Randy DeFrehn, executive director of the National Coordinating Committee for Multiemployer Plans. An industry veteran, DeFrehn has been a member of the Department of Labor's ERISA Advisory Council, has testified numerous times before Congress, and is frequently called on to consult with government officials.
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