Category: Central States

With Time Quickly Waning, Joint Council No. 25 Urges Affiliates and Members to Fight for Congress to Pass the Butch Lewis Act.

On By Teamster Local Union No. 26In Central States, News, Uncategorized

With less than two months remaining for Congress to adopt the Butch Lewis Act, Teamsters Joint Council No. 25 continues to urge all Local Union Affiliates and their members to reach out to their Congressmen and encourage their co-sponsorship of the legislation and to vote for its passage.

The Butch Lewis Act would provide leverage to the potential collapse of the multiemployer pension plans by implementing a longer loan term with a significantly lower interest rate to federal agencies who could transfer monetary contributions to the pensions for investments and protect the hard-earned and well-deserved benefits of past, current and future members.

This is as critical of a time as it is pivotal for the Teamsters Organization and our membership to advocate for the benefits they are rightfully entitled to. A simple telephone call or letter to Congressmen requesting their support could potentially eliminate a devastating retirement crisis for millions of members.

The International Brotherhood of Teamsters (IBT) has provided a number of resources for members, including guided speaking points, which can be found in their online Pension Toolkit.

If you are unfamiliar with your Congressmen, you are encouraged to contact the IBT at (888)-979-9806 and they will put you in direct contact with their Offices.

You are also strongly encouraged to contact your State Representative to urge them to support House Resolution 1225 and your State Senator to support Senate Resolution 2013. The full test of the resolutions can be found here.

The most powerful message to Congress would be the Illinois General Assembly passing these resolutions, calling for Congress to instate the Butch Lewis Act.Every member of the Republican and Democratic Parties of the House and Senate need to agree to sign as co-sponsors.

Contact State Legislators about House Resolution 1225 and Senate Resolution 2013

For more updates and information, text ‘PENSION’ to 86466 and help fight to protect your pensions.

Tell Congress to Urge Action on Critical Pension Legislation

On By Teamster Local Union No. 26In Central States, News, Uncategorized

 

 

 

Our nation’s retirees are facing an impending pension crisis. Through no fault of their own, their pensions are being threatened with massive cuts if Congress fails to act. Legislation, entitled the Butch Lewis Act of 2017 (S. 2147/ H.R. 4444), has been introduced to help shore up pension plans that are currently facing insolvency. Take Action!

These bills would establish a new agency within the U.S. Treasury Department called the Pension Rehabilitation Administration (PRA).  The PRA would sell Treasury-issued bonds in the open market to large investors and then loan the money from these sales to pension plans in financial distress.  This legislation is our best path forward toward addressing the growing pension crisis in this country.

Congress needs to understand the critical status of our pensions and the need for immediate action. The best chance that the Butch Lewis Act has for passage is to be inserted into the next must pass government spending bill.  Today we are asking that you contact your members of Congress to tell them to include S. 2147/ H.R. 4444 in the next Omnibus bill. You can take action by clicking HERE.