As a union contractor and member of The Association of Union Constructors (TAUC), you are no doubt well aware of the crisis facing multiemployer pension plans. Fortunately, TAUC and others are working towards legislative and regulatory reforms that, if enacted, would protect employers from financial exposure and strengthen multiemployer plans while preserving participants’ benefits in the process. The Pension Protection Act of 2006 is set to expire at the end of 2014, which means Congress must pass these urgently needed reforms as soon as possible. But it won’t be easy, and that’s why we are reaching out to you and your organization.
Recently, a group of 40 different organizations representing both labor and management came together under the auspices of the Retirement Security Review Commission, spearheaded by the National Coordinating Committee for Multiemployer Plans (NCCMP). The result of that effort was the proposal “Solutions Not Bailouts: A Comprehensive Plan from Business and Labor to Safeguard Multiemployer Retirement Security, Protect Taxpayers, and Spur Economic Growth,” released in 2013. You can find details of this proposal online at www.tauc.org/pensionreform.
The reforms included in the “Solutions Not Bailouts” proposal are extensive, including technical changes that will improve the current system, measures to address the unfortunate minority of plans facing insolvency, and blueprints for new and innovative plan designs that will provide secure retirement income to participants while reducing, if not eliminating, employers’ exposure to unreasonable financial risks.
The NCCMP, with the full support of TAUC, has launched a comprehensive campaign that involves drafting legislative language, grass roots mobilization, the execution of an aggressive and wide-ranging public relations strategy and a sustained and targeted lobbying effort.
In order for this campaign to succeed, we are requesting the financial support of our member organizations. NCCMP estimates that the comprehensive campaign outlined above will cost $3 to $5 million. TAUC is asking its members to contribute as your budgets allow; we suggest a contribution of $100, $250, $500 or $1,000 per organization. TAUC will collect the contributions and use this money to support the multiemployer pension reform effort.
To make it easy for TAUC members to make a contribution, we have created a special webpage, www.tauc.org/donate, where you can make a contribution electronically. If you would like to pay via check, please make the check payable to “The Association of Union Constructors (TAUC)”. Questions regarding this contribution can be directed to TAUC’s Director of Administration Mike Marrone at (703) 524-3336 x 115 or via email at firstname.lastname@example.org. Questions regarding the legislative reform effort can be directed to TAUC’s Senior Director of Government Affairs and Membership Services Todd Mustard at (703) 524-3336 x 112 or via email at email@example.com.
We hope we can count on your support for this incredibly important effort.
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