canaryinthemine
Retirement....The Job I Was Born To Have!
- Credits
- 0
Gentlemen,....and Ladies.....
On June 11, the Butch Lewis Act,...the Rehabilitation of Multi-Employer Pensions Act,.....H.R.397, finally came out of Committee and will be scheduled for a full House vote soon.
Apparently it was a contentious markup session with the Bill,....with the Usual Suspects claiming this will....bankrupt the country,..or some other similar nonsense.
H.R.397 is a loan program,...with extremely favorable terms and a 30 year amortization. But, the MEPF's do have to pay it back.......
They still have not approved the funds to keep the Pension Benefit Guarantee Insurance program afloat longer than 2026........
Before you pop the champagne corks and celebrate by buying that new Rolls-Royce...(...Oh! you overpaid Retirees!...).....
....Remember that this has to pass the House(probable..)....., and then the Senate(questionable..)...and then Mr. Trump has to sign it into Law(doubtful..).....
We are going into an....Election "season"......Those who want to......pander....to working people MAY support passage of this Bill,....IF they hear from enough Constituents...
This includes Mr. Trump.
If passage of this Act is ......important....to your retirement,...time to break out your letter-writing skills.
No word on whether this Bill,..H.R.397,...will contain retroactive provisions to restore pensions that have already been cut,...and promises made to retirees already violated....
We'll just have to Trust Congress will do the......Honorable Thing......
....(...after checking with their Overlords,....Wall Street and their Big Donors...)...........
On June 11, the Butch Lewis Act,...the Rehabilitation of Multi-Employer Pensions Act,.....H.R.397, finally came out of Committee and will be scheduled for a full House vote soon.
Apparently it was a contentious markup session with the Bill,....with the Usual Suspects claiming this will....bankrupt the country,..or some other similar nonsense.
H.R.397 is a loan program,...with extremely favorable terms and a 30 year amortization. But, the MEPF's do have to pay it back.......
They still have not approved the funds to keep the Pension Benefit Guarantee Insurance program afloat longer than 2026........
Before you pop the champagne corks and celebrate by buying that new Rolls-Royce...(...Oh! you overpaid Retirees!...).....
....Remember that this has to pass the House(probable..)....., and then the Senate(questionable..)...and then Mr. Trump has to sign it into Law(doubtful..).....
We are going into an....Election "season"......Those who want to......pander....to working people MAY support passage of this Bill,....IF they hear from enough Constituents...
This includes Mr. Trump.
If passage of this Act is ......important....to your retirement,...time to break out your letter-writing skills.
No word on whether this Bill,..H.R.397,...will contain retroactive provisions to restore pensions that have already been cut,...and promises made to retirees already violated....
We'll just have to Trust Congress will do the......Honorable Thing......
....(...after checking with their Overlords,....Wall Street and their Big Donors...)...........