The COVID-19 pandemic relief legislation set for a vote this week in the House contains a provision to save struggling union pension plans that experts say has a good shot at passing, forecasting a possible end to a $65 billion funding crisis that threatens one million retirees' pensions.

The House Ways and Means Committee significantly boosted the prospect for passage of much needed pension relief that would protect the hard-earned and promised benefits of active and retired truck drivers, nurses and health care workers, plumbers and construction trade workers – people who we now recognize and honor as America’s essential workers in this time of crisis.

PRC sent a letter to the Committee on Ways and Means expressing our support for the Butch Lewis Emergency Pension Plan Relief Act of 2021. Read the full letter here. 

Payments from traditional pension plans generated a staggering $1.3 trillion in U.S. economic output in 2018, according to a report recently released by the National Institute on Retirement Security (NIRS).