Butch Lewis Act saves Central States Pension Fund
FOR IMMEDIATE RELEASE The Pension Rights Center and thousands of retired truck drivers, warehouse workers and spouses across the country are celebrating the approval of an infusion of funds that will keep the Central States Pension Fund going strong for decades to come. The White House announced today that the Pension Benefit Guaranty Corporation (PBGC) […]
Local 707 retirees in New York on road to getting benefits restored due to Butch Lewis Act and PBGC
For Immediate Release Contact: Karen Friedman, 202-296-3776 The Pension Benefit Guaranty Corporation (PBGC), the federal agency that backstops failing pension plans, recently announced some great news— that it has, for the fourth time in less than one month, approved financial assistance under the Butch Lewis Emergency Pension […]
PRC Fact Sheet Answers Questions on Multiemployer Plan Rescue Law’s Implementation
By David Brandolph Last March 11 was a joyous day for the Pension Rights Center, multiemployer defined benefit plan members, plan retirees and their families. Thanks to a joint (and painstaking) seven-year effort to inform and convince Congress of the need to address the systemic threat posed by a pension plan insolvency calamity, President Joseph […]
PRC comments to the PBGC on interim multiemployer financial assistance guidance
PRC submitted comments to the Pension Benefit Guaranty Coorporation on the Interim Multiemployer Financial Assistance Regulation.
Retirees Celebrate Historic Pension Victory
By Karen Friedman With the enactment of the Butch Lewis Emergency Pension Plan Relief Act, retirees across the country are “dancing in the streets” to celebrate the wonderful news that their pensions have been saved. Press the link to join the celebration and show-off your latest dance moves. We thought you’d like to see some of the […]
New Law Causes Musicians’ Pension Trustees to Rethink Benefit Cuts
For Immediate Release Contact: Karen Friedman, 202-320-6518 Tens of thousands of musicians— pianists, trumpeters, celloists, saxophonists and others— who were fighting cuts to their pensions are reaping immediate gains from the newly enacted Butch Lewis Emergency Pension Plan Relief Act, which was passed as part of the $1.9 trillion Covid-19 aid package, known as the American […]
With Butch Lewis Act, Workers Won Major Victory for Right to Secure Retirement
Tucked into the American Rescue Plan — the coronavirus stimulus that passed in early March — is the greatest victory for American workers in recent memory: the Butch Lewis Emergency Pension Plan Relief Act.
How the COVID relief bill saves union pensions
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.
Local grass roots work ends with Congress passing $86 billion package to rescue failing pensions
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.
No One Else Was Going To, So These Teamsters Saved Their Own Pensions
“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.”
How the American Rescue Plan Act Will Help More Than a Million Retirees and Workers
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.
New Stimulus Package Includes Help for DB Plan Sponsors
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.
