Last week, the Pension Benefit Guaranty Corporation (PBGC), the stop-loss insurer for approximately 1,400 multiemployer defined benefit pension plans (805 of which are construction plans, and 150 of those are in the pipe trades industry), predicted, "It is more likely than not that PBGC's multiemployer program will run out of money within eight years, highly likely within 11 [years] and 99% probable by the end of the 20-year projection period." PBGC also stated, "Participants in insolvent plans also face the risk that the PBGC guarantee fund itself will run out of money to provide financial assistance, so that it will be unable to pay even the current [low] level of guarantees."  Upon release of the PBGC 2013 Projections Report, the bipartisan leadership of the House Education and Workforce Committee - Chairman John Kline (R-MN), Pension Subcommittee Chair Phil Roe (R-TN), Committee Ranking Member George Miller (D-CA), and Pension Subcommittee ranking member John Tierney (D-MA) - issued a press release, which said, "The latest PBGC report confirms in stark detail the significant challenges confronting the multiemployer pension system. The systemic crisis we face threatens countless workers, employers, and retirees, and could ultimately harm American taxpayers, as well. We have an obligation to advance reforms that will modernize the system, encourage employer participation, protect taxpayers, and offer new tools to help rescue troubled plans.  We continue to work together to find common ground and a responsible legislative solution. The American people deserve nothing less."  The MCAA-backed legislative proposal that is pending before the committee, Solutions Not Bailouts, provides just the same approach called for in the release. MCAA is continuing to lobby with the UA in Washington, D.C. and with MCA affiliates in key Congressional districts, to push the widening recognition that the SNB proposal actually preserves benefits in the face of the PBGC crisis and does so without taxpayer assistance. The Congressional August recess is fast approaching; please contact your lawmakers while they're in their districts and press for support and adoption this year of the Solutions Not Bailouts proposal.  MCAA's John McNerney ([email protected]) will provide you with back-up material and assistance for that outreach. 

House Rejects Roll-Back of Prevailing Wage Standards 

The House voted down, by a vote of 231 to 192, Representative Stephen King's (R-IA) latest attempt to roll back prevailing wage standards with a proposed amendment to stem Davis Bacon enforcement on the Water Resources bill. In effect, the House vote, which included 46 Republicans, showed support for high workforce standards.  

The grants, each for $1,200, will help cover the salaries of student interns who are working for MCAA and MSCA members in the field and/or in the office over this summer. The students will gain valuable work experience and the opportunity to learn more about the industry, and their employers will benefit from the students' perspective, knowledge of new technologies, energy and enthusiasm. The grants, which are funded by the Mechanical Contracting Education & Research Foundation and administered by MCAA's Career Development Committee, are designed to bring students closer to the industry and steer their career plans to a professional position with an MCAA member after college.  Find out more about MCAA's student chapter program by contacting Ann Mattheis ([email protected]). 

Expand Your Vision to Transcend Barriers at MSCA 2014  

Join MSCA and CNN Hero Doc Hendley for a captivating General Session at the MSCA 2014 Educational Conference in Huntington Beach, CA, on September 30. Doc's efforts are proof that anyone can make a difference simply by using resources available at the time. After a life-changing year in war-torn Darfur, Sudan, the vision for his Wine to Water nonprofit organization shifted to the global arena to impact 1.1 billion people worldwide who lack access to clean water. This session will leave you intrigued and inspired as Doc shares his lessons learned in doing what you can with what you have and using the power of relationships to transcend barriers. Your perception of your ability to take hold of limitless opportunities will be transformed. Doc will also present the winner of the first-ever MSCA Everyday Hero Award with an accolade following his presentation. This session will be one of many conference highlights. You must register for the MSCA 2014 conference to attend this event, so sign-up today at http://www.mcaa.org/education/msca/annualconference.