This week Bernie introduced his bill to protect American pensions at a rally on Capitol Hill. The bill, entitled the “Keep Our Pension Promises Act,” rolls back provisions in last year’s Multiemployer Pension Reform Act which allow union-negotiated retirement funds to seek benefit cuts.
There is a longstanding and concerted effort underway to convince the public that America’s pension funds are financially unsustainable. As the Wall Street Journal noted last year, the rollbacks in the Multiemployer Pension Reform Act have been touted as a model for future cuts in the already-battered retirement security of American workers.
“Hard-working retirees should not ever have to doubt their retirement security,” Bernie said. Rep. Marcy Kaptur introduced the new measure in the House of Representatives.
Bernie’s announcement was accompanied by the cheers of workers from the Teamsters Union and the International Association of Machinists and Aerospace Workers. The bill has also won the approval of retiree advocates AARP Inc., according to the Wall Street Journal.