I received this message today via my retirees network. If you are presently receiving a pension from your former employer, you may be interested in looking at this and sending our illustrious Senate Majority Leader a message. Our pension funds are SUPPOSED to be protected by the ERISA, but Sen. Reid wants to raid them for Highway Funding. Dont let him do it!!!!!!! Subject: NRLN Action Alert: Don’t Risk Pensions for Highway Funding News articles have reported that Harry Reid, U.S. Senate Majority Leader, will soon bring before the Senate for a vote the Highway and Transportation Funding Action of 2014 bill passed by the House on July 15th. I am asking you to send the NRLN’s sample letter below to Senator Reid to urge him not to make a foolish mistake by funding the highway program on the backs of America’s retirees. In the House bill, $6.4 billion of the $10.9 billion revenue for highways would be raised by extending pension relief to corporations for an additional five years on top of the five years of “MAP 21” pension smoothing given by Congress in 2012. By using pension assets to pay for the highway bill, Congress is jeopardizing the financial security of millions of retirees. Relief from contributing to pension plans will only hasten the underfunding of plans should the market take unforeseen downturns like those we have seen in the last 10 years. That is a gamble Congress should never take with money which rightfully belongs to America’s retirees. It is just wrong. Send the sample letter below with your personal comments inserted through Harry Reid’s website at: harryreid/content/contact/ . The reason that I’m asking you to copy and paste the message into the webform on this website is that use of the NRLN message system or the Senate website only allows emails from Nevada constituents. Also, if you have a Twitter account, tweet a message to Senator Reid at https://twitter/HarryReid . A suggested tweet is below the sample letter. Please take action immediately. Senator Reid could bring the highway funding bill before the Senate as early as Tuesday, July 22nd. Bill Kadereit, President National Retiree Legislative Network Sample Letter: Don’t Risk Pensions for Highway Funding Dear Senator Reid: News articles have reported that you will soon bring before the Senate for a vote the Highway and Transportation Funding Action of 2014 bill passed by the House. I am writing to urge you not to make the foolish leadership mistake made by House Ways & Means Committee Chairman Rep. Dave Camp and Speaker Boehner. Don’t fund the highway program on the backs of America’s retirees. In the House bill, $6.4 billion of the $10.9 billion revenue for highways would be raised by extending pension relief to corporations for an additional five years on top of the five years of “MAP 21” pension smoothing given by Congress in 2012. By using pension assets to pay for the highway bill, Congress is jeopardizing the financial security of millions of retirees. Relief from contributing to pension plans will only hasten the underfunding of plans should the market take unforeseen downturns like those we have seen in the last 10 years. That is a gamble Congress should never take with money which rightfully belongs to America’s retirees. It is just wrong. Democrats say they are for retirees. Here is your chance to prove it. Tell the House leadership that the Senate will not take up its flawed bill. Also, tell the Senate Finance Committee to go back to work to find a way to fund the Highway Trust Fund other than giving corporations additional relief from funding their defined benefit pension plans. Twitter Message: Senate should not use “pension smoothing” that places pensions at risk to fund the Highway Trust Fund
Posted on: Fri, 18 Jul 2014 17:22:30 +0000
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