H.R.397 — 116th Congress (2019-2020) is seeking to amend the Internal Revenue Code of 1986 to create a Pension Rehabilitation Trust Fund, to establish a Pension Rehabilitation Administration within the Department of the Treasury to make loans to multiemployer defined benefit plans, and for other purposes. Importantly, this Bill, which was recently filed by Congressman Neal, has currently 9 co-sponsors, including 5 Republicans and 4 Democrats. The fact that 5 Republicans have already stepped up to support this legislation is a huge turnaround from previous attempts to provide relief for critical and declining multiemployer pension systems.

Please continue to reach out to your legislators to get them to support this critically important effort. There are millions of American workers who are in desperate need of protection for their hard-earned pensions.