GROW Act – Our Pension is Threatened

Dear IBEW Local 292 Brothers and Sisters:

We need your help.

Embedded within the latest COVID relief bill being debated by the US Congress, there is a section named the GROW act that threatens our Pension plans. Call Senator Smith and Klobuchar and ask them to oppose the GROW act contained within the House passed HEROES act. Thank you for your help!

Senator Amy Klobuchar: 202-224-3244

Senator Tina Smith: 202-224-5641

SAMPLE TELEPHONE SCRIPT

Hello, my name is ________ and I am Member of IBEW Local 292 in Minnesota.

We oppose the GROW Act, the composite multiemployer pension proposal in the House version of the HEROES Act.

Composite plans will put worker and retiree benefits at risk. They would undermine existing plans and put my pension plan in danger.

They also threaten the Pension Benefit Guaranty Corporation, the agency created as a backstop for troubled pension plans.

Composite plans would drain money from existing pension plans to pay for new composite plans.

·       Shifting contributions leaving neither plan with enough money to pay promised benefits.

·       Both the existing plan and the composite plan would lack sufficient resources

·       Workers and retirees would be subject to massive benefit cuts.

The IBEW supports legislation to preserve healthy multiemployer plans. The unemployment and economic devastation caused by the coronavirus pandemic exacerbates the urgent need for Congress to act.

But composite plan legislation would further harm workers in the middle of a deepening economic calamity.

I strongly urge you to actively work to pull the GROW Act out of COVID relief legislation before it is voted upon by the US Senate.

Thank you.

In Brotherhood,

Jeff Heimerl, Business Manager, Local Union 292 IBEW