No. I think the changes obviously are positive and are long overdue, but the reality is that if a company were to go bankrupt, with the current rules as they are, the workers' pension plan would not see the remaining assets of that company go to fund the unfunded liability of that pension plan. This is wrong.
Workers are not like investors. We go to work every single day. We make a commitment. We perform our jobs accordingly. When the company goes bankrupt, we should not be left to take the risk simply because the creditors are somehow given superpriority and workers are told to wait in line. We've been advocating on this for decades and saying that the law should change.
Fundamentally, of course, this is an important aspect of reforms that need to happen. We know that some companies will fail during this pandemic, and we're hoping that the pension plan will be better and will be solvent. So far, what we're seeing in the evidence about how pension plans are faring seems reasonable, but at the end of the day, if a pension plan was in trouble before the pandemic, this problem of the pandemic will just make it that much worse.
We think workers should be prioritized. The bankruptcy and insolvency laws in this country do not serve workers to the full extent that they could. Changes need to be made.