WASHINGTON, July 6, 2022 /PRNewswire/ — The National Electrical Contractors Association (NECA) issued the following statement as President Biden visited Cleveland, Ohio, to discuss the American Rescue Plan Act’s (ARPA) impact on the multiemployer pension system. NECA attended the event represented by Director of Government Affairs Jared Karbowsky and Executive Director of the Greater Cleveland Chapter Tom Shreves.
NECA would like to thank the Biden Administration and Congress for passing the ARPA in March 2021. The law included the Butch-Lewis Emergency Pension Relief Act of 2021. The provisions stabilized troubled plans, protected more than 1 million workers’ and retirees’ hard-earned savings, and prevented tens of thousands of businesses from shuttering. Without this relief, the entire multiemployer pension system faced possible collapse, and hundreds of NECA-IBEW plans covering thousands of participants could have lost their pension.
NECA remains ready to work with President Biden and the Administration, Senator Sherrod Brown (D-OH), and all Members of Congress on lasting reforms to the multiemployer pension system to ensure the health and stability of pension plans going forward.
NECA is the voice of the $202 billion electrical construction industry that brings power, light, and communication technology to buildings and communities across the United States. NECA’s national office and 118 local chapters advance the industry through advocacy, education, research, and standards development. Go to www.necanet.org for more information.
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SOURCE National Electrical Contractors Association