Hello 553

It’s anticipated the US Congress and Trump Administration will include The GROW Act into the next pandemic stimulus bill, which would allow multiemployer pension trustees to divert contributions from an existing defined benefit multiemployer pension plan to a new composite plan with inferior benefits.

Call your senators and congress members to oppose the inclusion of the GROW Act in the upcoming stimulus bill. To help you better understand the issues here’s a link to a study recently published by the Teamsters.

Composite Plan Actuarial Study WCT July 2020