Taft-Hartley Multi-Employer Pension Plans
"Taft-Hartley plans" refer to the multi-employer pension plans collectively bargained by a union and a group of employers, usually in related industries. Taft-Hartley plans are governed by a trust, half of whose trustees are appointed by the employers, and half by the union. This retirement plan model has enabled tens of thousands of small and medium-sized businesses to provide workers with the traditional defined benefit pensions that used to be standard among larger employers, but have now virtually disappeared in the non-unionized private sector.
Since their creation, a number of federal regulations including the Employee Retirement Income Security Act (ERISA) of 1974 and subsequent amendments including the Pension Protection Act (PPA) of 2006 have changed the regulation of multi-employer plans.
In 2014 the PPA funding rules for multi-employer plans are set to expire. SEIU is a member of the National Coordinating Committee of Multi-Employer Plans (NCCMP), which has issued a report and recommendations called Solutions Not Bailouts. Learn more here.