WebJul 25, 2024 · The Butch Lewis Act would: Create a loan program to allow failing pensions plans to borrow the money they need to put plans back on solid ground and ensure they can meet their commitments to retirees and workers for decades to come. By putting the plans back on solid footing, the bill would also protect small businesses from the threat of ... WebJul 24, 2024 · This bill establishes the Pension Rehabilitation Administration within the Department of the Treasury and a related trust fund to make loans to certain multiemployer defined benefit pension plans. To receive a loan, a plan must be either in critical and declining status (including any plan with respect to which a suspension of benefits has …
Butch Lewis Emergency Pension Plan Relief Act of 2024
WebJul 26, 2024 · (Washington, D.C.) – This week, United States Representative Emanuel Cleaver, II (D-MO) voted to support H.R. 397, the Rehabilitation for Multiemployer Pensions Act, otherwise known as the Butch Lewis Act. The bill addresses the multiemployer pension crisis facing over one million Americans across the nation, serving as an … WebJan 24, 2024 · The Butch Lewis Act, signed into law as part of the American Rescue Plan Act last March, authorized the U.S. Treasury Department to provide the PBGC with an estimated $86 billion or more to channel to about 250 severely underfunded multiemployer pension plans, saving the benefits of an estimated 3 million workers, retirees, spouses … science of mirage
Update to the Butch Lewis Act Insight Investment
WebThe Butch Lewis Act of 2024 strives to address the plight of multiemployer and single-employer pension plans in the wake of COVD-19. Here we discuss only the … WebJul 24, 2024 · Butch Lewis Act of 2024. This bill establishes the Pension Rehabilitation Administration within the Department of the Treasury and a related trust fund to make … WebJul 26, 2024 · The Butch Lewis Act would address the pension crisis by creating a new office within the Treasury Department called the Pension Rehabilitation Administration … science of muddling through