Funds coming from the American Rescue Plan coronavirus relief package.
This week President Joe Biden announced an award for federal financial support from the American Rescue Plan’s Special Financial Assistance Program to protect union pensions.
Approved by the Pension Benefit Guaranty Corporation, the White House press secretary stated the “$36 billion for the Central States Pension Fund, [will prevent] drastic cuts to the hard-earned pensions of over 350,000 union workers and retirees.“
Assistant Secretary of Labor for Employee Benefits Security Lisa Gomez said, “Union workers are finally able to breathe a huge sigh of relief knowing that their hard-earned retirement savings have been secured from steep costs.”
As the Lord Leads, Pray with Us…
- For the president and his administration as they promote and support organized labor.
- For Secretary Walsh and Assistant Secretary Gomez as they apply coronavirus aid to union pensions.
- For Americans in general who have experienced a decrease in their retirement funds.
Sources: The White House, Newsmax, CNBC
