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- The reform would provide additional funding to protect pensions by imposing fees on financial firms convicted of criminal acts
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Current law requires banks convicted of financial crimes to seek a waiver from the
"We must keep our promise to workers and retirees by making sure they receive the pensions they have earned. I am reintroducing this reform to address the financial challenges of the pension insurance program and to generate new revenue to fund worker pensions," said
"My legislation complements our existing multiemployer pension efforts. Hardworking people should never have to doubt their retirement security and we need to make sure their pensions are fully funded. Now that the Butch Lewis Act has cleared the House with bipartisan support,
The Pension Stability Act is supported by the Pension Rights Center. More information on the Pension Stability Act is available here (https://www.baldwin.senate.gov/imo/media/doc/Pension%20Stability%20Act-%20One%20Pager1.pdf).