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On Dec. 16, 2014, President Obama signed into law an omnibus government budget and spending bill that included the industry-supported Multiemployer Pension Reform Act (MEPRA) of 2014. The act brings sweeping changes to the way multiemployer pension plans are administered and includes many of the recommendations in “Solutions Not Bailouts” — a report issued by the Retirement Security Review Commission of the National Coordinating Committee for Multiemployer Plans [NCCMP] in response to the growing need for multiemployer pension plan reform in order to prevent future plan insolvency.
The Sheet Metal and Air Conditioning Contractors’ National Association (SMACNA), along with the United Association, the Mechanical Contractors Association of America (MCAA), and many others, supported Solutions Not Bailouts as well as MEPRA.
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