President Biden Signs the American Rescue Act, Delivering Pension Relief
Today, President Joe Biden signed the American Rescue Act, finalizing $1.9 trillion in relief funding. Included in the package is $86 billion for multiemployer pension funds, like the B&C Pension Fund. The legislation provides the funding necessary for long-term solvency without forcing reductions in participantsโ hard-earned pension benefits. The pandemic exacerbated the multiemployer pension crisis. This bill will save the pensions of more than 1.3 million hard-working Americans. The package also provides long-term stability for single-employer plans. Yesterday,...