WASHINGTON – Joint Select Committee on the Solvency of Multiemployer Pension Plans Co-Chairman Orrin Hatch (R-Utah) today delivered the following opening statement at a hearing to consider how the multiemployer pension system affects stakeholders:
The committee has taken a rigorous approach to the issues before it – examining in public hearings the complex range of problems that have led to the dire financial condition of a significant number of multiemployer pension plans, as well as of the Pension Benefit Guarantee Corporation, or the PBGC.
