Today, the Senate Finance Committee held a hearing to examine the multiemployer pension plan system and its effect on unions, employers, workers, retirees, and taxpayers.  In his opening statement, Senate Finance Committee Chairman Orrin Hatch (R-UT) noted that “[t]his is a sobering moment for our country, the pension community, and retirees.  And beyond the hardship for retirees in multiemployer plans, this moment also highlights the challenge of delivering on the promise of pensions in defined-benefit plans across the board, both public and private, and the stakes for retirees if these systems fail.”