Multi-Employer Pension Plans
As a part of collective bargaining all employers in a region which share labor contribute to a single pension plan. Employers and labor alike are represented on the plans by designated trustees. The safety and security of these retirement plans are governed by the Employee Retirement Income Security Act (ERISA) and the Pension Benefit Guaranty Corporation.
NAWE member plans have become less dependable and less affordable with large withdrawal liabilities. NAWE applauds the efforts in 2014 toward reforming this critical path toward our employees welfare in retirement however, NAWE continues to follow efforts in Congress to further reform the multi-employer pension plan framework of laws and provide an alternative approach, such as “composite plans.” NAWE feels that federal laws should be reformed to enable more flexible means to ensure availability of funds in retirement for labor participants of multi-employer plans.