The proposed pension reform would affect workers hired after Sept. 1, 2022.
Tag: pension reform
Multiemployer pension reform has been ruled eligible to be included in the $1.9 trillion COVID-19 relief package.
The provision would beef up the PBGC and provide a boost for multiemployer and single-employer plans. But it would also freeze COLAs.
Under a new proposal, 6% in new contributions would be made by the country’s employers to sustain retired citizens above the poverty line.