The Mechanical Contractors Association of America (MCAA), in conjunction with Horizon Actuarial Services, LLC, has just released a new edition of its comprehensive inventory and analysis of construction industry multiemployer pension plans.
The Inventory provides historical data from all multiemployer pension plans in the construction industry. The new issue of this publication has been significantly enhanced. It now includes plan features by specific craft and a separate, detailed analysis of all plans co-sponsored by MCAA employers and the United Association. MCAA President Michael R. Cables stated,"
“The result is a valuable tool that will assist the union
sector of the construction industry in better understanding how multiemployer
pension plans have evolved, and where they may be headed, to aid them in
ensuring the plans’ futures,” MCAA President Michael R. Cables stated in a Feb.
1 press release.
MCAA, along with other stakeholders from both labor and
management, are promoting certain legislative reforms in laws governing
multiemployer pension plans. The proposed reforms, known as Solutions Not Bailouts,
are designed to stabilize and enhance the current multiemployer system, provide
additional tools for deeply troubled plans, and encourage the development of
innovative plan designs. Industry stakeholders hope to see legislative adoption
of the proposed reforms this year, before the scheduled sunset of the Pension
Protection Act of 2006 (PPA) at the end of 2014. That's why, at this time of crisis, MCAA is
making this inventory available to the entire industry at no cost.
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