U.S. House of Representatives Passes Butch Lewis Act
July 25, 2019
Yesterday evening, the U.S. House of Representatives passed the Rehabilitation for Multiemployer Pensions Act, also known as the "Butch Lewis Act." This bill would provide low-interest government loans to struggling multiemployer pension funds, including the AFM-EPF. If necessary, these loans can be coupled with additional financial assistance from the Pension Benefit Guaranty Corporation. The bill would provide sufficient money for these funds to pay benefits to current retirees and beneficiaries for life, while allowing the funds to grow back to stronger financial footing.
U.S. House of Representatives to Vote on Butch Lewis Act
July 23, 2019
The House of Representatives is scheduled to vote on the Rehabilitation for Multiemployer Pensions Act, also known as the "Butch Lewis Act," this Wednesday, July 24. If the House passes this legislation, it will next need to be considered by the Senate.
House Ways and Means Committee Approves Butch Lewis Act
July 10, 2019
Today, the House Ways and Means Committee voted to approve HR 397, the "Rehabilitation for Multiemployer Pensions Act" - the House's version of the "Butch Lewis Act." This bill would provide low-interest government loans to struggling multiemployer plans, including the AFM-EPF. These loans would provide enough money for a multiemployer fund to pay current retirees and beneficiaries their benefits for life, which would allow the fund to grow back to stronger financial footing. The Trustees maintain their strong support for this bill and encourage participants to tell their Members of Congress to get behind it as well.
House Ways and Means Committee to Vote on Butch Lewis Act
July 8, 2019
The House Ways and Means Committee announced today that it will consider and vote on the Rehabilitation for Multiemployer Pensions Act, also known as the "Butch Lewis Act," on Wednesday, July 10 at 10:00 a.m. ET. This "markup" of the Act will be streamed live on the Committee's YouTube page.
A Call to Act Responsibly
July 5, 2019
Yet another round of misinformation has been sent to some AFM-EPF participants by the group "Musicians for Pension Security" (MPS). We are focused on preserving our Pension Fund for current and future generations of musicians, but these attacks are part of a concerted effort to undermine participant support for the coming benefit changes that are necessary to achieve this goal. They serve only to confuse and alarm participants, while obscuring the actual challenges facing our Fund and the actual solutions that we must pursue. So we find ourselves once again in the position of setting the record straight.