New Pension Coalition Demands Action on Long-Term Solvency (3)

Former House Speaker John Boehner (R-Ohio) and former Rep. Joe Crowley (D-N.Y.) are recruiting retirees, unions, corporations, and lawmakers to help the nascent Retirement Security Coalition halt a looming pension solvency crisis.

The political odd couple, who tangled with the economics of righting underfunded multiemployer pension plans while serving on the House’s labor and tax-writing panels, told Bloomberg Law they have joined forces to prod Congress into acting before the situation gets out of control. They cited a 2018 report from Washington consulting firm Matrix Global Advisors projecting that the U.S. could lose up to 55,000 jobs and $1.2 billion ...