The Ways and Means Committee of the U.S. House of Representatives passed the Rehabilitation for Multiemployer Pensions Act this month. This legislation would “provide funds for 30-year loans and new financial assistance, in the form of grants, to financially troubled multiemployer pension funds…the program is designed to operate primarily over the next 30 years.”

According to the act, only the current severely financially troubled plans would qualify for the loans and grants, and the most dire plans will actually be required to do so.