Pension Benefit Guaranty Corporation
Biden touts pension rescue, economic agenda in Cleveland
“We turned a promise broken into a promise kept,” Joe Biden told a crowd of union workers in Cleveland Wednesday. The president’s visit offered a victory lap for provisions in his American Rescue Plan, or ARPA, that will keep a number of multi-employer pension plans from becoming insolvent. According to the Biden administration, that legislation […]
Collapsing union pension plans win long-sought help from rescue package
WASHINGTON — Tucked in the Democrats’ massive coronavirus stimulus package was a long-awaited solution for a financial ticking time bomb: private pension funds on the brink of collapse, jeopardizing the retirement plans of millions of union members. The $1.9 trillion pandemic relief measure included $86 billion that will be used for grants to help shore […]