Human Resource & Labor News
www.agc.orgMarch 27, 2013 / Issue No. 2-13
AGC Home Page
Email our Editor
Search Back Issues
Forward to a Friend
Subscribe
Printer Friendly
On the Inside
Labor Relations
Union Representation in Construction Slips in 2012, While Earnings Rise
Laborersí International Vice President Rocco Davis Delivers Up-Beat Message to AGCís Union Contractors
New Proposal to Reform Multiemployer Retirement Plans Will Help Hard Hit Construction Industry
AGC Member Testifies at House Pension Hearing
NLRB Recess Appointment Challenge Likely Headed to Supreme Court
NLRB Holds that Dues Check-Off Survives Contract Expiration
Immigration
Employers Required to Use New Form I-9 Beginning on May 7
Independent Contractors
IRS Expands Amnesty Program for Identifying Misclassified Independent Contractors; Still Risky
EEO
Federal Contractors: Beware of OFCCPís New Compensation Audit Procedures
Leave and Benefits
Labor Department Issues New FMLA Regulations; New Forms & Poster Required
Whistleblower Complaint Procedures for Affordable Care Act Announced
AGC Member Testifies at House Pension Hearing
 

On March 5, the U.S. House Education and Workforce’s Subcommittee on Heath, Employment, Labor and Pensions held a hearing titled, “Challenges Facing Multi-employer Pension Plans: Reviewing the Latest Findings by PBGC and GAO.”  Harold Force, president of Force Construction Co. in Columbus, Ind., testified on behalf of AGC of America and was the sole employer witness.  The Hearing focused on recent reports from the Pension Benefit Guaranty Corporation (PBGC) and preliminary findings of a General Accountability Office (GAO) report on the status of multi-employer pension plans. Mr. Force gave an employer perspective of plans with funding deficiencies and on the need to reform the system before it is too late.

The PBGC testified that many plans were hit hard from the recession and without Congressional action, the PBGC could become insolvent in the next 10 years – particularly if several large plans that are currently headed toward insolvency do, in fact, fail. The findings highlight the dire funding status of many plans and reiterate the need for bold and decisive reform of the system.  AGC has been working for over a year with stakeholders on recommendations for Congress to reform the system. Mr. Force testified that, without giving plan trustees more flexibility, the system that many construction employers depend on to provide employee pensions could be in jeopardy.

AGC is working with Congressional leaders on legislation to address the multi-employer pension system and will work with them on enacting reform in the coming months. For more information on the hearing, you can visit the committee website, along with an archived webcast of the hearing.

For more information, please contact Jim Young at (202) 547-0133 or youngj@agc.org.

Return to Top

2300 Wilson Boulevard, Suite 400 • Arlington, VA 22201 • 703.548.3118 (phone) • 703.548.3119 (fax) • www.agc.org
AGC Home | About AGC | Advocacy | Industry Topics | Construction Markets | Programs & Events | Career Development | News & Media

To ensure delivery of AGC’s Human Resource & Labor News, please add 'communications@agc.org' to your email address book or Safe Sender List. If you are still having problems receiving our communications, visit our white-listing page for more details.

© Copyright The Associated General Contractors (AGC) of America. All Rights Reserved.


The Associated General Contractors of America | Quality People. Quality Projects.