SENS. KLOBUCHAR AND MORENO, REPS. FINSTAD AND CAREY INTRODUCE BIPARTISAN BILL TO EXEMPT MULTIEMPLOYER UNION RETIREMENT PLANS FROM AUTOMATIC ENROLLMENT

WASHINGTON, Jan. 16 -- Sen. Amy Klobuchar issued the following news release:

Senators Amy Klobuchar (D-MN) and Bernie Moreno (R-OH) joined Representatives Brad Finstad (R-MN), Mike Carey (R-OH), Brendan Boyle (D-PA), and John Larson (D-CT) to introduce the Multiemployer Plan Relief Act, a bipartisan bill that provides targeted relief from the automatic enrollment mandate for multiemployer union retirement plans.

Multiemployer unions provide retirement plans to workers in industries such as construction and trucking, where individuals may have multiple employers rather than consistently working for one company. When workers are automatically enrolled for new plans, as currently mandated, they may be enrolled multiple times as they change ...