King to Be 1st GOP Rep to Cosponsor Pension Bill

By ASPPA Net Staff • January 03, 2018 • 0 Comments
Rep. Peter King (R-NY), on Jan. 2 announced that he will become the first Republican member of the House of Representatives to co-sponsor H.R. 4444, the Rehabilitation for Multiemployer Pensions Act.

King made the announcement at a press conference in Hampstead, NY, according to Politco. King reportedly said that the people whose situation the bill is intended to address have "worked hard,” and are “not looking for a giveaway,” adding, “It’s not through any fault of theirs that their pensions are being cut dramatically."

The bill, introduced by Rep. Richard Neal (D-MA), on Nov. 16, would provide low-cost loans to failing multiemployer plans through the Pension Benefit Guaranty Corporation (PBGC).