Updated: NRECA Urges Senate to Pass S. 1302, the Cooperative and Small Employer Charity Pension Flexibility Act

Over 40 bipartisan Senators have joined Senate Health, Education, Labor and Pensions Committee Chairman Tom Harkin (D-IA) and Senator Pat Roberts (R-KS) to cosponsor S. 1302, which should be on the Senate floor in December. In 2006, Congress recognized its new pension funding rules were not appropriate for rural cooperative “multiple-employer” defined benefit plans like ours, and granted these plans a temporary exemption from the Pension Protection Act (PPA) through 2017. S. 1302 makes this permanent. S.1302 is also endorsed by Christian Schools International; United Way Worldwide; UJA, United Jewish Appeal, Federation of New York; The Jewish Federations of North America; Girl Scouts of the USA; NTCA – The Rural Broadband Association; United Benefits Group; Hawkeye Insurance Association; and the National Council of Farmer Cooperatives.