{"id":48295,"date":"2021-02-27T02:18:00","date_gmt":"2021-02-27T02:18:00","guid":{"rendered":"https:\/\/wordpress2.hdnweb.com\/2021\/02\/27\/teamsters-pleased-by-house-approval-of-stimulus-bill-containing-pension-reforms\/"},"modified":"2021-02-27T02:18:00","modified_gmt":"2021-02-27T02:18:00","slug":"teamsters-pleased-by-house-approval-of-stimulus-bill-containing-pension-reforms","status":"publish","type":"post","link":"https:\/\/wordpress2.hdnweb.com\/en\/2021\/02\/27\/teamsters-pleased-by-house-approval-of-stimulus-bill-containing-pension-reforms\/","title":{"rendered":"Teamsters Pleased By House Approval Of Stimulus Bill Containing Pension Reforms"},"content":{"rendered":"<p><\/p>\n<style type=\"text\/css\"><![CDATA[\n\/* Style Definitions *\/\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n]]><\/style>\n<div class=\"xn-content\">\n<p><span class=\"xn-location\">WASHINGTON<\/span>, <span class=\"xn-chron\">Feb. 27, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0The Teamsters are applauding the House&#8217;s passage of a <span class=\"xn-money\">$1.9 trillion<\/span> COVID-19 stimulus bill today that includes language granting relief to hundreds of endangered multiemployer pension plans that would protect the hard-earned retirements of more than 1 million American retirees and workers.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n                        <a href=\"https:\/\/mma.prnewswire.com\/media\/33969\/international_brotherhood_of_teamsters_logo.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n                    <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/33969\/international_brotherhood_of_teamsters_logo.jpg\" title=\"International Brotherhood Of Teamsters. (PRNewsFoto\/International Brotherhood of Teamsters)\" alt=\"International Brotherhood Of Teamsters. (PRNewsFoto\/International Brotherhood of Teamsters)\"\/><\/a>\n                <\/p>\n<\/p><\/div>\n<p>Under the Butch Lewis Emergency Pension Plan Relief Act of 2021 language inserted into the legislation, more than 50 Teamster pension plans \u2013 including its largest, the Central States Pension Fund \u2013 will be eligible for assistance at the outset of the bill&#8217;s enactment, with more of the union&#8217;s plans becoming eligible in 2022. <\/p>\n<p>&#8220;For my entire administration, the Teamsters have been fighting for members and retirees who only want to receive the nest eggs that they&#8217;ve worked so hard to earn for their golden years,&#8221; Teamsters General President <span class=\"xn-person\">Jim Hoffa<\/span> said. &#8220;Now we are one step closer towards fulfilling that promise.&#8221;<\/p>\n<p>As America looks to reopen and rebuild, maintaining the solvency of the multiemployer pension system will be a key to economic recovery. The National Institute for Retirement Security has concluded that the <span class=\"xn-money\">$44.2 billion<\/span> in private pension benefit payments paid to retirees of multiemployer plans in 2018 supported <span class=\"xn-money\">$96.6 billion dollars<\/span> in overall economic output in the national economy, and an estimated <span class=\"xn-money\">$14.7 billion<\/span> in total tax revenue. The country can ill-afford a reduction in these revenue streams during the recovery period.<\/p>\n<p>The bill now moves to the Senate for consideration. Elected officials can no longer turn their backs on these hardworking Americans who have played by the rules their entire lives. Congress must pass COVID-19 legislation that includes a pension fix.<\/p>\n<p>Founded in 1903, the International Brotherhood of Teamsters represents 1.4 million hardworking men and women throughout <span class=\"xn-location\">the United States<\/span>, <span class=\"xn-location\">Canada<\/span> and <span class=\"xn-location\">Puerto Rico<\/span>. Visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3081201-1&amp;h=1573875345&amp;u=http%3A%2F%2Fwww.teamster.org%2F&amp;a=www.teamster.org\" rel=\"nofollow\">www.teamster.org<\/a> for more information. Follow us on Twitter @Teamsters and &#8220;like&#8221; us on Facebook at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3081201-1&amp;h=1231855842&amp;u=http%3A%2F%2Fwww.facebook.com%2Fteamsters&amp;a=www.facebook.com%2Fteamsters\" rel=\"nofollow\">www.facebook.com\/teamsters<\/a>.<\/p>\n<p><b>Contact: <br \/><b><span class=\"xn-person\">Galen Munroe<\/span>, (202) 439-7427\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <br \/><a target=\"_blank\" href=\"mailto:gmunroe@teamster.org\" rel=\"nofollow\">gmunroe@teamster.org<\/a><\/b><\/b><\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\">\n<\/div>\n<p id=\"PURL\"><img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=PH93521&amp;sd=2021-02-27\"\/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/teamsters-pleased-by-house-approval-of-stimulus-bill-containing-pension-reforms-301236808.html\">http:\/\/www.prnewswire.com\/news-releases\/teamsters-pleased-by-house-approval-of-stimulus-bill-containing-pension-reforms-301236808.html<\/a><\/p>\n<p>SOURCE  International Brotherhood of Teamsters<\/p>\n<\/div>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=PH93521&amp;Transmission_Id=202102270218PR_NEWS_USPR_____PH93521&amp;DateId=20210227\" style=\"border:0px; width:1px; height:1px;\"\/> <\/p>","protected":false},"excerpt":{"rendered":"<div class=\"xn-content\">\n<p><span class=\"xn-location\">WASHINGTON<\/span>, <span class=\"xn-chron\">Feb. 27, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0The Teamsters are applauding the House&#8217;s passage of a <span class=\"xn-money\">$1.9 trillion<\/span> COVID-19 stimulus bill today that includes language granting relief to hundreds of endangered multiemployer pension plans that would protect the hard-earned retirements of more than 1 million American retirees and workers.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n                        &lt;a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":48296,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[25],"tags":[],"class_list":["post-48295","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-geovanny-vicente"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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