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U.S. Government Launches Pension Rescue
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 July 15, 2021 | PENSIONS | The U.S. Labor Department on July 9 unveiled its rules for a new $94 billion program to rescue failing union pension plans. The program was one small part of the American Rescue Plan Act which passed in March, and it’s expected to help more than 3 million union members and their spouses. “Every working person deserves to retire with dignity and receive all the benefits they earned during their career,” said U.S. Secretary of Labor Marty Walsh in a press statement as the rules were announced. “Unions … have been fighting for years for what these workers have earned.” The rescue is Congress’ biggest-yet response to a crisis afflicting about one in seven multi-employer pension plans. Multi-employer plans are collectively bargained plans... nwLaborPress.org
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