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Regulators Issue Guidance on Multiemployer Plan Assistance

Regulators Issue Guidance on Multiemployer Plan Assistance
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AFL-CIO building trades unions back Biden's full infrastructure plan – People's World

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AFL-CIO building trades unions back Biden’s full infrastructure plan
June 7, 2021
9:34 AM CDT
By Mark Gruenberg
The Building Trades Unions are backing the Biden infrastructure plan which includes massive repair of roads and bridges. | video still courtesy of NABTU
WASHINGTON Aware that the pressure must be raised for passage of President Biden’s proposed infrastructure plan, the AFL-CIO’s building trades unions, at a 1-day virtual legislative conference, backed the president’s original $2.2 trillion plan. ....

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Potential Pitfalls in Union Pension Relief Program

Potential Pitfalls in Union Pension Relief Program
The relief included in the latest stimulus program is a major win for stressed union pensions, but sources say there are some challenging hurdles yet to jump.
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Signed into law in early March, the American Rescue Plan Act (ARPA) included $1.9 trillion in collective economic relief, much of it targeted to address the coronavirus pandemic.
Along with other provisions aimed at supporting the retirement planning sector, the law allowed for substantial relief payments to be targeted at stressed multiemployer pension plans sponsored by unions. Specifically, the law allows multiemployer plans that are in “critical and declining” status, as defined by prior legislation, to get a lump sum of money to make benefit payments for the next 30 years, or through 2051. ....

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'We Have to Move Now': The Working People Weekly List

April 6, 2021
Every week, we bring you a roundup of the top news and commentary about issues and events important to working families. Here’s the latest edition of the Working People Weekly List.
: “Mr. Biden was introduced by a union worker who deals with the electrical grid. Mike Fiore, a member of the International Brotherhood of Electrical Workers Local 29 and an employee of Duquesne Light, said the plan would mean a lot to workers who are ready to retool plants and revitalize the middle class. ‘The [plan] is directed at communities like mine. It is about opening up opportunities, revitalizing local businesses and saving jobs,’ Mr. Fiore said. ‘For decades, Pennsylvania was a global leader in manufacturing and good union jobs. It can be that way again.’” ....

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$1.9 Trillion American Rescue Package Includes Major Relief for Single and Multiemployer Pension Plans | Faegre Drinker Biddle & Reath LLP

$1.9 Trillion American Rescue Package Includes Major Relief for Single and Multiemployer Pension Plans | Faegre Drinker Biddle & Reath LLP
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