MCAA, in conjunction with the UA and Horizon Actuarial Services, has produced the UA/MCAA Analysis of the Cost Impact of the Grassley/Alexander [Pension Reform] Proposal. This latest joint UA/MCAA analysis is being used in lobbying meetings on the Hill to prod Congress to craft a more acceptable multiemployer reform proposal that focuses on remedies for critical and declining plans without levying crippling fiscal and funding restrictions on otherwise healthy plans. MCAA and the overall NCCMP Coalition are working hard to prod Congress to come up with a more fair and balanced reform that does no harm to healthy plans early in the next session of Congress. Initial indications are that the reforms will be moderated significantly.
The latest UA/MCAA analysis is added to the Multiemployer Pension Plan Reform Policy Issues analysis that Horizon did for the UA and MCAA earlier this year. That analysis shows the impact of reduced benefits and increased costs added to plans in the wake of Congress’s delay in enacting reforms.