Speaker of the House Paul Ryan (R-WI) and House Minority Leader Nancy Pelosi (D-CA) have named the four Republicans and four Democrats from the House of Representatives who will serve on the new Joint Select Committee on the Solvency of Multiemployer Pension Plans.
The bipartisan, bicameral committee was created by the Bipartisan Budget Act to look for ways to improve the solvency of multiemployer plans. It is required to hold public hearings and vote on their findings and legislative recommendations no later than Nov. 30, 2018. If the committee approves the recommendations, they will go to the House and Senate for their consideration. The committee is to be dissolved no later than Dec. 31, 2018.
Speaker of the House Paul Ryan (R-WI) on Feb. 23 named the following Republican members to the committee:
- Rep. Virginia Foxx (R-NC), chairwoman of the House Education and the Workforce Committee
- Rep. Phil Roe (R-TN), House Education and the Workforce Committee
- Rep. Vern Buchanan (R-FL), House Ways and Means Committee
- Rep. David Schweikert (R-AZ), House Ways and Means Committee
Also on Feb. 23, House Minority Leader Nancy Pelosi (D-CA) named the following Democratic members to the committee:
- Rep. Richard E. Neal (D-MA), Ways and Means Ranking Committee Member
- Rep. Bobby Scott (D-VA), Education and Workforce Committee Ranking Member
- Rep. Donald Norcross (D-NJ), Education and Workforce Committee
- Rep. Debbie Dingell (D-MI), Energy and Commerce Committee
“It is critical that we address the stability of multiemployer pension plans, and the overall solvency of the PBGC,” said Ryan. Pelosi struck a similar tone, saying that, “Strong bipartisan leadership is urgently needed to save Americans’ endangered pensions.” Ryan added that “The select committee should seize this opportunity to forge a bipartisan solution that protects retirees, workers, and taxpayers” and Pelosi spoke of the “mission to ensure all workers can enjoy the dignity of a good retirement.”
Senate Majority Leader Mitch McConnell (R-KY) and Minority Leader Charles Schumer (D-NY) have not yet named the Senators who will serve on the committee.