Here is the latest on the Butch Lewis Act. We are pleased to report that there are two more co-sponsors of the Bill. However, this Bill is currently only being supported by Democratic Senators. Where are the pension advocates? Millions of Americans may (likely) see their pension benefits slashed by as much as 50% should their defined benefit plans file for relief from the promises that have been made, and in many cases, participants have been receiving. The following information is from GovTrack.
S. 2147: Butch Lewis Act of 2017
We encourage you to reach out to your legislators to build momentum for this important legislation. As we’ve mentioned on several occasions, we believe that the proposed implementation would work well to support public pension systems, too.
Given our that our economy is driven by the individual consumer, not providing for millions of retirees, has to be negative for long-term growth prospects. We either pay now, or we are going to pay a lot more in the future.