“I'll fight to protect your pensions, including fixing multiemployer pensions, that so many Floridians earned and deserve.”
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Biden signed the American Rescue Plan Act on March 11, 2021, which included the Butch Lewis Emergency Pension Plan Relief Act, creating a Special Financial Assistance program for financially troubled multiemployer pension plans. A July 2022 White House fact sheet states more than 200 multiemployer pension plans faced the prospect of not receiving the full benefits participants earned before this law, and that two to three million workers and retirees in assisted plans are expected to keep their full pension benefits for the next three decades, directly fulfilling the promise to fix multiemployer pensions.
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