Additional Congressional findings and declaration of policy

multiemployer pension plans have a substantial impact on interstate commerce and are affected with a national public interest; multiemployer pension plans have accounted for a substantial portion of the increase in private pension plan coverage over the past three decades; the continued well-being and security of millions of employees, retirees, and their dependents are directly affected by multiemployer pension plans; and withdrawals of contributing employers from a multiemployer pension plan frequently result in substantially increased funding obligations for employers who continue to contribute to the plan, adversely affecting the plan, its participants and beneficiaries, and labor-management relations, and in a declining industry, the incidence of employer withdrawals is higher and the adverse effects described in subparagraph (A) are exacerbated. it is desirable to modify the current multiemployer plan termination insurance provisions in order to increase the likelihood of protecting plan participants against benefit losses; and it is desirable to replace the termination insurance program for multiemployer pension plans with an insolvency-based benefit protection program that will enhance the financial soundness of such plans, place primary emphasis on plan continuation, and contain program costs within reasonable limits. to foster and facilitate interstate commerce, to alleviate certain problems which tend to discourage the maintenance and growth of multiemployer pension plans, to provide reasonable protection for the interests of participants and beneficiaries of financially distressed multiemployer pension plans, and to provide a financially self-sufficient program for the guarantee of employee benefits under multiemployer plans. The Congress finds that— The Congress further finds that— It is hereby declared to be the policy of this Act— (Source: (Pub. L. 96–364, § 3, Sept. 26, 1980, 94 Stat. 1209.))