Multiemployer review: Butch Lewis Emergency Pension Plan Relief Act of 2021

The Butch Lewis Emergency Pension Plan Relief Act of 2021 (Butch Lewis EPPRA) was passed in the House in February as part of a larger COVID-19 relief bill. If it becomes law in its current state, the Butch Lewis EPPRA would be the most notable legislation enacted affecting multiemployers since 2014, when Congress passed the Multiemployer Pension Reform Act (MPRA). This review provides an overview of the provisions of the Butch Lewis EPPRA as they may apply to multiemployer defined benefit plans. Topics covered include temporary relief provisions, a special assistance program for financially troubled plans, and a premium rate increase to fund the Pension Benefit Guaranty Corp (PBGC).