Protect Retirees' Earned Pensions

Floor Speech

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Ms. KAPTUR. Madam Speaker, pensions have afforded millions of middle- class Americans the opportunity to enjoy their golden years with economic peace of mind.

Congress did not ensure that security for all retirees when it passed the Multiemployer Pension Reform Act in December 2014, attaching it to unrelated, must-pass legislation.

For the past 5 years, I have listened to the anxiety of thousands of retirees from Ohio and across our Nation, and I have fought for a better solution for them.

Next week, this body will consider the Rehabilitation for Multiemployer Pensions Act, better known as the Butch Lewis Act. This bill is long overdue and a great step toward restoring economic security for over 1,300,000 pensioners in our country.

Congress can provide relief for these 1.3 million workers and retirees in plans running out of money through no fault of the workers. Many of these hardworking individuals worked 30 years or more but now, every day, they live with economic uncertainty, some facing drastic cuts, as much as 70 percent, to their earned pensions. Many of these individuals are too old to return to the workforce. This is criminal.

Madam Speaker, this Congress should improve our constituents' lives. It is with great anticipation that next week we offer a glimmer of hope for millions of pensioners caught far out on the ledge of economic disaster. The Butch Lewis Act is overdue and a reasonable solution to address this multiemployer pension crisis and end the economic terror that affects these retirees' lives.

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