Support the Butch Lewis Act of 2017

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Dear Legislator:

We are members of the National United Committee to Protect Pensions (NUCPP). 

Our reason for petitioning you is simple. We need both Republican and Democratic support for a yes vote to enact the “Butch Lewis Act of 2017” S 2147 and HR 4444. This Act will fix ALL failing multiemployer pension plans (MEPS).

This is NOT A BAILOUT, WON’T TOUCH TAXPAYERS and WON’T ADD TO NATIONAL DEBT. 

If this bill is passed, there will be a new agency in Treasury named Pension Rehabilitation Administration (PRA). PRA will sell 30 year Treasury bonds, then will lend the proceeds to failing MEPS. The MEPS will pay 3% interest and must set aside money yearly to pay off the debt. The costs of running the agency will be paid from the sale of the bonds. There will be no cuts to pensions. The plan was studied by two separate actuarial teams and found to be sound.   

 



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