Taxpayer Bailout of Multiemployer Pension Plans and Government-mandated Project Labor Agreements
On March 11, President Biden signed the American Rescue Plan Act of 2021 (H.R. 1319) into law, including a controversial provision providing a Congressional Budget Office-estimated $86 billion taxpayer bailout of struggling multiemployer pension plans. The COVID-19 relief bill’s sudden bailout of some MEPPs has been disheartening to some small businesses and firms not affiliated […]
Many Construction Industry Multiemployer Pension Plans Remain in Financial Distress
Merit shop contractors are typically wary of competing for taxpayer-funded construction contracts which are subject to government-mandated project labor agreements. Often their main concern is the viability of defined benefit multiemployer pension plans, which expose their businesses to potentially catastrophic MEPP liability. Information about the health of construction industry MEPPs provided by the U.S. Department of […]
DOL Website Shows Some Construction Industry Pension Plans Remain in Financial Trouble
Following this week’s post at TheTruthAboutPLAs.com about pensions and government-mandated project labor agreements, The Project Labor Agreement and Troubled Union Multiemployer Pension Plan Nexus, ABC’s Newsline published this article Jan. 30, 2019, Some Construction Industry Pension Plans Remain in Financial Trouble, about multi-employer pension plans. Merit shop contractors are typically wary of competing for taxpayer-funded construction […]
The Project Labor Agreement and Troubled Union Multiemployer Pension Plan Nexus
Construction unions attempt to entice merit shop craft professionals and new construction industry workers and apprentices into joining a union with promises of generous retirement benefits via multiemployer pension plans. Construction unions lobby elected officials in charge of procuring taxpayer-funded construction projects with arguments on why union contractors and union workers deserve special treatment through various […]