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PMRS Congratulates Multiemployer Pension Leaders Honored by Institutional Investor, Urges Action on Reforms

The Partnership for Multiemployer Retirement Security Congratulates Randy DeFrehn and David Blitzstein the Cross-Sector Leaders Named to Institutional Investor’s “Pension 40” List

 

(WASHINGTON) – The Partnership for Multiemployer Retirement Security (PMRS) today congratulated Randy DeFrehn of the National Coordinating Committee for Multiemployer Plans and David Blitzstein, Special Assistant for Multiemployer Plans for the United Food & Commercial Workers International Union (UFCW) for being named to Institutional Investor’s “Pension 40” list of leaders influential in pension reform.

“We congratulate Randy DeFrehn and David Blitzstein along with the other honorees on being named to the Pension 40 list. The inclusion of so many individuals on the forefront of pension reform legislation shows the importance – and urgency – of reform. We are honored that Institutional Investor has chosen two members of the Partnership for Multiemployer Retirement Security and thank them for recognizing the importance of multiemployer pension reform. The leaders included on this list have a unique opportunity to make significant improvements to the multiemployer pension system that protects retirement security and ensures that multiemployer pensions continue to play a critical role in the financial well-being of middle class workers, retirees and employers across the country.”

The Partnership for Multiemployer Retirement Security is a unique partnership of business and labor groups that has formed to urge passage of common-sense, self-help reforms to the multiemployer pension system following the release of their report Solutions not Bailouts.  DeFrehn and Blitzstein were among those who developed the Solutions not Bailouts recommendations.  The Pension 40 list also includes those on the front lines of creating and implementing policy that affects multiemployer plan participants such as Senator Tom Harkin (D-IA), Congressman Phil Roe (R-TN), Josh Gotbaum, Director of the Pension Benefit Guaranty Corporation (PBGC) and Assistant Secretary of Labor Phyllis C. Borzi among others.

Institutional Investor describes Randy DeFrehn as sitting “at the center of the 10.4 million-participant-strong U.S. multiemployer pension plan universe” and “chief advocate for an additional 26 million active and retired U.S. workers and their families who receive multiemployer health benefits.” Of David Blitzstein Institutional Investor writes, “Veteran labor executive David Blitzstein has been outspoken and pragmatic in his attempts to solve the underfunding of multiemployer pension schemes.”

The report Solutions not Bailouts: A Comprehensive Plan from Business and Labor to Safeguard Multiemployer Retirement Security, Protect Taxpayers and Spur Economic Growth was released earlier this year and offers private sector solutions to shore up the nation’s multiemployer pension plan system. Included are recommendations to boost solvency, provide opportunities for growth for employers, and increase retirement security without relying on an expensive, and unlikely, taxpayer bailout. The recommendations provide meaningful technical enhancements to the system on the whole, as well as provide new, innovative plan designs that will solidify and strengthen the fiscal future of the multiemployer pension system. This set of critical reforms to the multiemployer system will also protect multiemployer plans, spur economic growth by ensuring that retiring workers have income they can spend, help participating employers remain competitive and features a set of safeguards for those plans that face the danger of insolvency.

Learn more: www.solutionsnotbailouts.com.

 

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Posted 18:23PM on December 16 2013 by
Categories: Press Release