Buried in the two-year budget deal emerging from the Senate Wednesday is language creating a bipartisan commission to address the impending insolvency of collectively bargained multiemployer pension plans and the government agency that insures them.
The budget creates a joint select committee on multiemployer pensions, including six members from the Senate and six from the House. Each cohort will be split evenly among Republicans and Democrats.
The commission is tasked with reporting a bill by the last week of November.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
