The trustees held a Webinar on October 9, which is full of misleading and inaccurate information. Here is MPS’ point by point response:
Trustee Statement: “We supported the Butch Lewis Act since it was introduced and throughout the Joint Select Committee process.”
What they are not telling you:
The trustees supported Butch Lewis in late 2017, but since have gone soft on it. Meantime, Butch Lewis has been under attack from the NCCMP, a powerful Washington lobbying group that played a key role in the formulation of MPRA, the 2014 law that allows trustees to cut accrued pension benefits. NCCMP wants to put the loan assistance program under Butch Lewis out of reach for plans like AFM-EPF.
AFM-EPF is an important member of the NCCMP and has long been in its inner policymaking circle.