Multi-Employer Pension Update - Retirement Security Review Commission Conclusions

During the 2012 National Coordinating Committee for Multiemployer Plans (NCCMP) Conference, a presentation was made discussing NCCMP’s Retirement Security Review Commission (RSRC) and some of the conclusions of the commission so far.  AGC is participating in the RSRC, which is a labor-management, cross-industry group of stakeholders established to develop a long-term solution to the multi-employer pension problem.  The conclusions summarized in the document include suggestions for technical changes to the Pension Protection Act, new tools for deeply troubled pension plans and a framework for a new flexible plan design. The commission continues to work on publishing a final report with recommendations for congressional and regulatory action on multi-employer pension reform, expecting any legislative action to likely occur in 2013. For more information, please contact Jim Young at (202) 547-0133 or youngj@agc.org.