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How the COVID relief bill saves union pensions

03/22/2021 | nwLaborPress.org

It didn’t get a lot of fanfare, but tucked into the just-passed COVID relief bill is a new program that will make a life-changing difference for over a million current and future union retirees.

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3 Ways You Could Lose Your Pension and How to Save It

03/22/2021 | Report Door

When was the last time you heard good news about pensions? Instead, you’ve probably seen alarming headlines such as these:

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Local grass roots work ends with Congress passing $86 billion package to rescue failing pensions

03/18/2021 | Akron Beacon Journal

What started as a small group gathering in the spring of 2014 in Akron to find a way to save failing union pensions from drastic cuts helped start a national movement that eventually claimed victory in early March.

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A new law would require employees to save for retirement

03/17/2021 | MarketWatch

Auto-enrollment may be just what Americans need to save more for retirement — but perhaps only if the government makes it a requirement. 

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No One Else Was Going To, So These Teamsters Saved Their Own Pensions

03/17/2021 | Labor Notes

“When Don first got his letter saying his pension was going to be cut 52 percent, it was one of those moments like when President Kennedy was killed and 9/11,” said Dana Vargo, spouse of a retired Teamster. “You remember exactly where you were.”

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How the American Rescue Plan Act Will Help More Than a Million Retirees and Workers

03/12/2021 | PBS Next Avenue

Good news on the retirement-income front. Some 1.5 million workers and retirees faced the real risk that their pension incomes would be slashed over the next 20 years or significantly sooner. But the American Rescue Plan Act just signed by President Joe Biden will prevent that from happening.

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New Stimulus Package Includes Help for DB Plan Sponsors

03/11/2021 | Plan Advisor

The American Rescue Plan Act (ARPA)—the $1.9 trillion coronavirus relief bill recently passed by Congress and signed by President Joe Biden on Thursday—includes provisions that will help both single-employer defined benefit (DB) plans and multiemployer plans.

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Congress uses $1.9 trillion relief plan to rescue multiemployer pension plans

03/10/2021 | The Columbus Dispatch

It looks like Congress has finally come to the rescue of troubled pension plans that provide benefits to more than 1 million truck drivers, grocery store workers, construction workers and other union jobs.

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The COVID relief bill could help put an end to another dire crisis

03/05/2021 | Raw Story

After years of failed attempts to bolster struggling multi-employer pension funds, help finally may be coming through via the Democrats' $1.9 trillion Covid relief bill. 

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$81.2B Rescue For Union Pensions Greenlit For COVID-19 Bill

03/02/2021 | Law360

A Senate official has confirmed that Congress can include a fix for the $81.2 billion union pension funding crisis in its coronavirus relief bill, which is moving through Congress via a special fast-tracked process reserved for budget-related legislation.

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