Manchin, Klobuchar, Casey

Executive Session (Zais Nomination)

Senator Manchin: (4:49 p.m.)

  • Spoke on pensions.
    • "The agreement was a sacred promise between the workers and the country and it captured the best of America and who we are, but the multiemployer pension system in the United States is in crisis, as many as 114 pension plans, including mine workers of America, 1974 pension fund is expected to become insolvent. We're the first ones on the block. This critical plan which covers 87,000 retired miners, 27,000 in my state and 20,000 full vested full workers expect to become insolvent by 2022 or sooner. If Congress allows this, the results will be devastating for retirees."

 

Senator Klobuchar: (4:53 p.m.)

  • Spoke on pensions.
    • "Over ten million Americans participate in a multiemployer pension plan for a safe and secure retirement. The central state's pension plan established in 1955 to help truckers save for retirement. And as Senator Donnelly knows, coming from Indiana, a state with a lot of proud truckers. Today the central state's pension plan includes from the car haul, tank haul, construction, clerical, food processing, dairy and trucking industries. I heard from people all over my state. Fred from Hibbing worked for 33 years as a bread man and serves as a caregiver for his wife. "

 

Senator Casey: (4:56 p.m.)

  • Spoke on pensions.
    • "I rise, first of all, to thank Senator Donnelly for his leadership and my colleagues. I'm speaking today on behalf of hundreds of thousands of people in Pennsylvania who currently or will rely upon a pension. Multiemployer pension programs protect about ten million workers and retirees across about 1,400 pension plans across the country. In Pennsylvania that number is 230 multiemployer pension plan with 109,000 recipients. Many are at risk. In 2017, the pension benefit guaranty corporation paid $462 million to Pennsylvanians whose pension plans have failed."