Manchin: Congress to Blame for Pension Crisis, Not United Mine Workers
Washington, D.C. – U.S. Senator Joe Manchin (D-WV) participated in a hearing of the Joint Select Committee on the Solvency of Multiemployer Pension Plans where he questioned Mr. Chris Langan, Vice President of Finance, UPS; Ms. Aliya Wong, Executive Director of Retirement Policy; U.S. Chamber of Commerce, Ms. Mary Moorkamp, Chief Legal and External Affairs Officer; Schnuck Markets; and Mr. Burke Blackman, President, Egger Steel Company.
“Let me make sure you understand, the working person in America, the United Mine Worker and the people who have done the hard work, they’re not to blame. They didn’t set the rates of contribution, they didn’t set the plan, they didn’t establish the bankruptcy laws. It was all done here in Congress. We’ve set the slope of what would happen and this is what we’re dealing with now. None of this was their fault but they’re taking the hit right now. Every one of them,” Senator Manchin said.
To watch a video of Senator Manchin’s questioning, please click here.
The Joint Select Committee was created as part of the overall budget compromise that passed in February. The committee is instructed to report a bill by the last week of November, and will be required to hold at least five public meetings, including three hearings so that members of Congress can hear directly from retirees, workers and businesses affected by the pension crisis. The solution that the committee produces is guaranteed an expedited vote in the Senate without amendments.
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