What the Butch Lewis Act Will and Will Not Do - Pension Rights …
On March 11, 2021, as part of the American Rescue Plan Act, President Biden signed the Butch Lewis Emergency Pension Relief Act into law. The law will preserve and restore the pensions of more than one million retirees and workers in an estimated 200-225 severely underfunded multiemployer pension plans.
NY state & local pension costs will rise in ’25 - Empire Center for ...
Aug 31, 2023 · New York taxpayers will be hit with a higher bill for state and local employee pensions starting in 2025, state Comptroller Thomas DiNapoli just announced. The pension cost hikes should come as no surprise, following a 2023 fiscal year in which the state’s Common Retirement Fund sustained its biggest investment loss since 2009. With assets of ...
Social Security Fairness Act brings retirement changes for nearly 3 ...
Jan 6, 2025 · Two provisions have been eliminated that reduced Social Security benefits for public workers who receive pensions. Here's what that means for retirees.
FACT SHEET: President - The White House
Dec 8, 2022 · Today, joined by Teamster President Sean O’Brien, AFL-CIO President Liz Shuler, Secretary of Labor Marty Walsh, and Teamster workers and retirees with multiemployer pensions, President Biden...
Pension Reform News: Report finds $1.59 trillion in public pension …
Oct 18, 2024 · Leveraging data from 191 state and local public pension systems in the United States, the report shows total public pension debt rose to $1.59 trillion at the end of 2023, most of which (88% of the debt) was held by state governments.
The Latest 2024 Update on Federal Retirement Laws
Jan 24, 2024 · More than 50 years after the Employee Retirement Income Security Act (ERISA) was passed, and just over a year after the implementation of SECURE Act 2.0, there is still momentum to improve...
Reform New York’s Tier 6 pensions - New York Daily News
Apr 9, 2024 · To address these inequities, legislative efforts supported by public employee advocates aim to secure fair retirement benefits. This includes standardizing contribution rates, reducing vesting...
FAQs on the Butch Lewis Emergency Pension Relief Act
Apr 1, 2021 · What will the Butch Lewis Emergency Pension Relief Act mean for Teamster pension funds and for your pension? Get answers to Frequently Asked Questions.
Pension Reform - NASRA
NASRA updates six key briefs annually on public pension management. The latest focuses on employee contributions to public pensions. Unlike private sector pensions, state and local government employees contribute to their retirement benefits, a …
Rescue Package Includes $86 Billion Bailout for Failing Pensions
Mar 7, 2021 · Both the House and Senate stimulus measures would give the weakest plans enough money to pay hundreds of thousands of retirees — a number that will grow in the future — their full pensions for...