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The spectre of pension failures haunts this election

The Hill
Date Published: 
Wednesday, October 28, 2020

It’s imperative that a new COVID-19 relief package — whenever it’s passed — shore up multiemployer pensions (retirement plans negotiated by a union with two or more employers), because if this piece of the retirement system is allowed to collapse, it would not only hurt current and future pensioners, it would deal an outsized blow to the employers who contribute to their plans, and to the economy. Retirees spend their pension money keeping businesses alive, maintaining jobs and keeping tax revenue flowing.