Biden announces $36 billion in federal aid for struggling Central States Teamsters plan

2022-12-08T09:53:00-08:00December 8th, 2022|Categories: Multiemployer Plans|Tags: , , , |

By Brian Croce Source: Pensions & Investments President Joe Biden on Thursday announced that the Pension Benefit Guaranty Corp. has approved $36 billion in federal assistance to shore up a massive union multiemployer pension plan facing steep cuts. Teamsters Central States, Southeast & Southwest Areas Pension Fund, Chicago, will receive the funds under the Special Financial Assistance Program. The program, created by the American Rescue Plan Act that Democrats passed in March 2021, was designed to shore up struggling [...]