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.
3 Ways You Could Lose Your Pension and How to Save It
When was the last time you heard good news about pensions? Instead, you’ve probably seen alarming headlines such as these:
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.
A new law would require employees to save for retirement
Auto-enrollment may be just what Americans need to save more for retirement — but perhaps only if the government makes it a requirement.
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.”
RRF Foundation for Aging releases issue brief on economic security later in life
By Karen Friedman The RRF Foundation for Aging is one of the few private foundations in the United States devoted exclusively to aging issues. Its mission is to improve the quality of life for older people. One of its Priority Areas is increasing economic security in later life. To further this goal, RRF recently released […]
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.
Congress uses $1.9 trillion relief plan to rescue multiemployer pension plans
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.
Time to Celebrate! Congress Passes Legislation to Protect Retirees’ Pensions
For Immediate Release Contact: Karen Friedman, 202-296-3777 March 10, 2021 www.pensionrights.org The Pension Rights Center and workers and retirees across the nation are celebrating the passage of the Butch Lewis Emergency Pension Plan Relief Act, as part of the $1.9 trillion Covid-19 aid package. The Butch Lewis Act will protect the hard-earned benefits of […]