11 thoughts on “Forbes post, “The HEROES Act/GROW Act’s Composite Plan Design Is The Right Path Forward – So Why Do Unions Oppose It?”

  1. So here’s the thing. No new employer – that is an an employer not already in a multiemployer plan – wants to join one and subject itself to withdrawal liability. The GROW Act removes withdrawal liability, and participation in the plans still would need to be negotiated by labor and management. ERRPA is more of the same. Unless these plans can grown their ACTIVE participation base in both workers and employers, they are doomed to decline to insolvency. Many plans bit the bullet under the Pension Protection Act of 2008 and made substantial reductions in “adjustable benefits” and sought contributions increases. Many others continue to bank on a bailout. As the NCCMP argued for years, what’s needed is “Solutions not Bailouts.” NCCMP seems to have dropped that slogan, but the GROW Act is in that spirit. https://nccmp.org/pension/

  2. Screw that GROW ACT. Corporate America is killing pension across the country. Its all about stocks for the top corporations executive. Keep the HEROES Act.Kill Th GROW. Peace to the true working Americans that work hard for a few leftover from the filthy rich.

  3. Hello Jane
    What is wrong with loaning money to retired union workers so they can retire safely? I and another 8.5 billion people on earth are still paying forever $29 trillion dollars for the 2008 banking crisis, that was not a loan it was a bill. The 1% of rich Americans lobbied away the safety rules in 1998 of investing and banking, The Glass – Steagall Act, and the Gam-St. Germain act of 1982 was put there to protect the 99% from 1% from stealing our money. Now since Sept.17, 2019 to now May 20, 2020 the world is paying another $10 Trillion plus, no the 1% they and their rich friends are laughing at the 99% fools. While the 99% are losing their asses. So what is wrong with loaning money to retired union workers? I believe we can pay it back because we do the right thing work not steal.

  4. We already have plan designs that will do everything the composite plan will do but using current legislation. The only advantage of the composite plan is the lack of PBGC premium / protection. So many employers will want to move to the composite plan to save the premiums which will significantly impact the PBGC’s source of revenue and ability to protect benefits.

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