National Electrical Contractors Association Statement on White House Discussing American Rescue Plan Act on Multiemployer Pension System

WASHINGTON, July 6, 2022 /PRNewswire/ — The Nationwide Electrical Contractors Affiliation (NECA) issued the next assertion as President Biden visited Cleveland, Ohio, to debate the American Rescue Plan Act’s (ARPA) affect on the multiemployer pension system. NECA attended the occasion represented by Director of Authorities Affairs Jared Karbowsky and Govt Director of the Better Cleveland Chapter Tom Shreves.

NECA wish to thank the Biden Administration and Congress for passing the ARPA in March 2021. The regulation included the Butch-Lewis Emergency Pension Aid Act of 2021. The provisions stabilized troubled plans, protected greater than 1 million staff’ and retirees’ hard-earned financial savings, and prevented tens of 1000’s of companies from shuttering. With out this aid, your entire multiemployer pension system confronted doable collapse, and tons of of NECA-IBEW plans protecting 1000’s of contributors might have misplaced their pension.

NECA stays able to work with President Biden and the Administration, Senator Sherrod Brown (D-OH), and all Members of Congress on lasting reforms to the multiemployer pension system to make sure the well being and stability of pension plans going ahead.

ABOUT THE NATIONAL ELECTRICAL CONTRACTORS ASSOCIATION

NECA is the voice of the $202 billion electrical development trade that brings energy, mild, and communication expertise to buildings and communities throughout the USA. NECA’s nationwide workplace and 118 native chapters advance the trade by way of advocacy, schooling, analysis, and requirements growth. Go to www.necanet.org for extra data.

SOURCE Nationwide Electrical Contractors Affiliation