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 […]
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 […]
ABC members overwhelmingly reported that government-mandated project labor agreements harm their businesses, hiring and workforce development practices and ability to complete work safely, on time and on budget, according to the results of a December 2018 membership survey published today. Ninety-eight percent of survey respondents said they were less likely to bid on a taxpayer-funded construction contract […]
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 […]
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 […]
Among the many reasons why most merit shop contractors oppose government-mandated project labor agreements (PLAs) is language requiring contractors to hire all trades employees for a PLA jobsite directly from union hiring halls. Sample language from a typical PLA: “Article 7.01. – For Unions having a hiring hall or job referral system in their local […]
Construction unions attempt to entice merit shop craft professionals and young workers into joining a union with promises of generous retirement benefits through multi-employer pension plans (MEPPs). They also convince elected officials in charge of procuring taxpayer-funded construction projects why union contractors and union workers deserve special treatment through various schemes like government-mandated project labor […]
A new report shining light on the dreadful health of multi-employer pension plans (MEPPs) for U.S. union workers and retirees estimates such plans are only 52 percent funded, with a $369 billion shortfall. MEPPs in the construction industry are responsible for a significant amount of pension shortfalls.
Construction MEPPs are responsible for about $167 billion (or 47 percent) worth of PBGC-insured MEPP underfunding. Abd it could get worse. Fifty-five percent of the 1,488 MEPPs insured by the PBGC are in the construction industry. The largest number of employees from any industry, about 3.885 million or 37.4 percent of all PBGC-insured MEPP participants (workers and retirees), are from the construction industry.
An open shop employee’s letter to the Worcester Telegram (Mass.) editor was published today (“PLAs get in the way of fair play,” 5/4) “in response to a letter to the editor concerning a level playing field for unions.” Mr. Cote of Leominster writes: How can they call it fair play if I pay my taxes the […]
TruthAboutPLAs.com readers familiar with provisions in wasteful and anti-competitive project labor agreements (PLAs) that force employers to contribute to failing union multi-employer pension plans on behalf of their employees have likely reviewed Required Reading on Multi-Employer Pension Plan Crisis. April 29, Fox Business Network’s Americas Nightly Scoreboard program invited the Small Business All-Stars to discuss Wall Street […]