“I start with no preconditions,” he said, vowing “this is going to work.”
The panel has until November to craft a plan that would be put before the House and Senate with an up-or-down vote.
At issue are multi–employer pensions created in order to allow employers to pool resources and provide their workers retirement security. While some 10 million workers are served by 1,400 multi-employer plans nationwide, some 150 to 200 plans, covering 1.5 million workers and retirees, could run out of money within the next 20 years, according to the Pension Rights Center.
Brown said while he liked a bill he has introduced with Rep. Richard Neal, a Massachusetts Democrat on the panel, he was hopeful the panel would come up with a “panoply” of options.
“This is probably the most important thing I’ve ever done in my life,” he said.