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Murray Applauds President’s Signature on Bipartisan Bill to Protect Pension Benefits at Charities, Cooperatives

Apr 10 2014

Murray Applauds President’s Signature on Bipartisan Bill to Protect Pension Benefits at Charities, Cooperatives

WASHINGTON, D.C.—Today, U.S. Senator Patty Murray (D-WA), a senior member of the Health, Education, Labor, and Pensions (HELP) Committee, applauded President Obama’s signing of the Cooperative and Small Employer Charity Pension Flexibility Act. Sen. Murray co-sponsored and championed this legislation in order to help many not-for-profit cooperatives and charities continue to provide pension benefits to their workers.

“From charity organizations like the Girl Scouts and United Way, to not-for-profit cooperatives in Washington state and across the country, this law will now dramatically help civic-minded organizations provide critical pension benefits to their hardworking employees,” said Senator Murray. “This commonsense law helps give both employer and employee peace of mind knowing these hard-earned pension benefits will not only remain intact, but robustly funded for years to come.”

The Cooperative and Small Employer Charity Pension Flexibility Act of 2013 will ensure that charitable and cooperative associations are not swept into the Pension Protection Act of 2006 (PPA) funding rules, which would require them to divert funds from critical services and jeopardize their ability to provide pension benefits to their workers.