How the American Rescue Plan Act is Saving Retirees’ Hard-Earned Pensions and Protecting Businesses

• The multiemployer pension system has been in a financial crisis.

• Hard-working Americans who earned their pensions in demanding industries, such as truck driving and construction, have been at risk of losing everything through no fault of their own.
  
  Businesses participating in multiemployer plans also have been at risk of financial ruin.

• In the American Rescue Plan Act, Congressional Democrats, and President Biden delivered a historic victory for these workers, retirees, and businesses.
  
  The American Rescue Plan Act established a special financial assistance program to protect millions of Americans’ retirement security and save tens of thousands of businesses.

 

For more information about how eligible pensions can apply for relief, click here.

 

Multiemployer Plans Approved for Relief

Central States, Southeast, and Southwest Areas Pension Plan (Central States Plan)

Retiree Pensions' Saved: 357,056

Businesses Protected: 1,005

The Central States, Southeast & Southwest Areas Pension Plan (Central States Plan), which is based in Chicago, Illinois, covers more than 350,000 participants in a number of industries, including transportation, construction, food processing, and more. More than 1,000 employers contribute to this pension plan. The Central States, Southeast, and Southwest Areas Pension Plan was projected to run out of money in 2025. Without this assistance, the Central States, Southeast, and Southwest Areas Pension Plan would have had to cut participants' benefits. The Central States, Southeast, and Southwest Areas Pension Plan will now be able to pay retirement benefits without reduction for many years into the future. 

 

Teamsters Local 966 Pension Plan 

Retiree Pensions’ Saved: 2,356

Businesses Protected: 20 

The Teamsters Local 966 Pension Plan, which is based in Cresskill, New Jersey, covers 2,356 participants in the transportation industry.  20 employers contribute to this pension plan.  The Teamsters Local 966 Plan was projected to run out of money in 2023.  Without this assistance, the Teamsters Local 966 Plan would have had to cut participants’ benefits.  The Teamsters Local 966 Plan will now be able to pay retirement benefits without reduction for many years into the future.  

 

Teamsters Local Union No. 52 Pension Plan (Teamsters Local 52 Plan)

Retiree Pensions’ Saved: 769

Businesses Protected: 7

The Teamsters Local Union No. 52 Pension Plan (Teamsters Local 52 Plan), which is based in Valley View, Ohio, covers 769 participants in the transportation industry.  7 employers contribute to this pension plan.  The Teamsters Local 52 Plan was projected to run out of money in 2023.  Without this assistance, the Teamsters Local 52 Plan would have had to cut participants’ benefits.  The Teamsters Local 52 Plan will now be able to pay retirement benefits without reduction for many years into the future.

 

New York State Teamsters Conference Pension and Retirement Plan (NYS Teamsters Conference Plan)

Retiree Pensions’ Saved: 33,643

Businesses Protected: 134

The New York State Teamsters Conference Pension and Retirement Plan (NYS Teamsters Conference Plan), which is based in Syracuse, New York, covers 33,643 participants in the transportation industry.  134 employers contribute to this pension plan.  The NYS Teamsters Conference Plan implemented a benefit cut under the Multiemployer Pension Reform Act (MPRA) and reduced the benefits of about 25,000 plan participants.  On average, their benefits were reduced by 20 percent.  The approval of NYS Teamsters Conference Plan’s application enables the plan to restore all benefits previously cut under MPRA, make payments to retirees to cover past benefit cuts, and pay retirement benefits without reductions for many years to come.

 

Bricklayers and Allied Craftsmen Local 7 Pension Plan (Bricklayers Local 7 Plan)

Retiree Pensions’ Saved: 397

Businesses Protected: 26

The Bricklayers and Allied Craftsmen Local 7 Pension Plan (Bricklayers Local 7 Plan), which is based in Akron, Ohio, covers 397 participants in the construction industry.  26 employers contribute to this pension plan.  The Bricklayers Local 7 Plan implemented a benefit cut under the Multiemployer Pension Reform Act (MPRA) and was partitioned into two plans.  About 300 plan participants’ benefits were cut; and, on average, their benefits were reduced by 55 percent.  The approval of the Bricklayers Local 7 Plan’s application enables the plan to restore all the previous benefit cuts under MPRA and make payments to retirees to cover prior benefit cuts. The plan also will be able to pay retirement benefits without reductions for many years into the future.

 

Freight Drivers and Helpers Local Union No. 557 Pension Plan (Freight Drivers Local 557 Plan)

Retiree Pensions’ Saved: 2,273

Businesses Protected: 6

The Freight Drivers and Helpers Local Union No. 557 Pension Plan (Freight Drivers Local 557 Plan), which is based in Baltimore, Maryland, covers 2,273 participants in the transportation industry. 6 employers contribute to this pension plan. The Freight Drivers Local 557 Plan was projected to run out of money in 2023. Without this assistance, the Freight Drivers Local 557 Plan would have had to cut participants’ benefits.  The Freight Drivers Local 557 Plan will now be able to pay retirement benefits without reduction for many years into the future.

 

Sheet Metal Workers Local Pension Plan (Sheet Metal Workers Plan) 

Retiree Pensions’ Saved: 1,649

Businesses Protected: 75

The Sheet Metal Workers Local Pension Plan (Sheet Metal Workers Plan), which is based in Massillon, Ohio, covers 1,649 participants in the construction industry. 75 employers contribute to this pension plan. In 2020, the Sheet Metal Workers Plan implemented a benefit cut under the Multiemployer Pension Reform Act (MPRA). 850 participants’ benefits were reduced, on average, by 24 percent. The approval of the Sheet Metal Workers Plan’s application enables the plan to restore benefits previously cut under the MPRA, make payments to retirees to cover past benefit cuts, and pay retirement benefits without reductions for many years into the future.

 

Gastronomical Workers Union Local 610 and Metropolitan Hotel Association Pension Fund (GWU Local 610 Plan)

Retiree Pensions’ Saved: 2,624

Businesses Protected: 1

The Gastronomical Workers Union Local 610 and Metropolitan Hotel Association Pension Fund (GWU Local 610 Plan), which is based in San Juan, Puerto Rico, covers 2,624 participants in the hospitality industry.  One employer contributes to this pension plan. The GWU Local 610 Plan became insolvent in June 2021.  The approval of the GWU Local 610 Plan’s application enables the plan to pay retirement benefits without reductions for many years to come.

 

Pension Plan of the Printers League – Graphic Communications International Union Local 119B (GCIU Local 119B Plan)

Retiree Pensions’ Saved: 1,213

Businesses Protected: 4

The Pension Plan of the Printers League – Graphic Communications International Union Local 119B (GCIU Local 119B Plan), which is based in East Farmingdale, New York, covers 1,213 participants in the printing industry.  Four employers contribute to this pension plan. The GCIU Local 119B Plan became insolvent in August 2021 and participants’ benefits were cut.  According to the PBGC, the GCIU Local 119B Plan’s were reduced by roughly 31 percent.  The approval of the GCIU Local 119B Plan’s application enables the plan to restore all benefits going forward and make payments to retirees to cover past benefit reductions. The approval of the application also will enable the GCIU Local 119B Plan to pay retirement benefits without reductions for many years to come.

 

Western Pennsylvania Teamsters and Employers Pension Plan (Western Pennsylvania Teamsters Plan) 

Retiree Pensions’ Saved: 21,110 

Businesses Protected: 111 

The Western Pennsylvania Teamsters and Employers Pension Plan (Western Pennsylvania Teamsters Plan), which is based in Pittsburgh, Pennsylvania, covers 21,110 participants in the transportation industry. 111 employers contributes to this pension plan.  The Western Pennsylvania Teamsters Plan implemented a benefit cut under the Multiemployer Pension Reform Act (MPRA). 15,000 participants’ benefits were reduced, on average, by 20 percent. The approval of the Western Pennsylvania Teamsters Plan’s application enables the plan to restore benefits previously cut under the MPRA, make payments to retirees to cover past benefit cuts, and pay retirement benefits without reductions for many years to come.

 

Local Union No. 466 Painters, Decorators and Paperhangers Pension Plan (Painters Local 466 Plan)

Retiree Pensions’ Saved: 45

Businesses Protected: 1

The Local Union No. 466 Painters, Decorators and Paperhangers Pension Plan (Painters Local 466 Plan), which is based in Menands, New York, covers 45 participants in the construction industry.  One employer contributes to this pension plan. The Painters Local 466 Plan became insolvent in November 2020, and participants' benefits were cut. According to the PBGC, the Painters Local 466 Plan’s participants’ benefits were reduced by roughly 45 percent. The approval of the Painters Local 466 Plan’s application enables the plan to restore all benefits going forward and make payments to retirees to cover past benefit reductions. The approval of the application also will enable the Painters Local 466 Plan to pay retirement benefits without reductions for many years to come.

 

Mid-Jersey Trucking Industry and Teamsters Local 701 Pension Plan (Teamsters 701 Plan)

Retiree Pensions’ Saved: 1,623

Businesses Protected: 9

The Mid-Jersey Trucking Industry and Teamsters Local 701 Pension Plan (Teamsters 701 Plan), which is based in North Brunswick, New Jersey, covers 1,623 participants in the transportation industry. 9 employers contribute to this pension plan. In April 2019, the Teamsters 701 Plan implemented a benefit cut under the Multiemployer Pension Reform Act (MPRA). Approximately 500 participants’ benefits were reduced, on average, by 40 percent. The approval of the Teamsters 701 Plan’s application enables the plan to restore benefits previously cut under the MPRA, make payments to retirees to cover past benefit cuts, and pay retirement benefits without reduction for many years to come.

 

Iron Workers Local 17 Pension Fund  

Retiree Pensions’ Saved: 1,900 

Businesses Protected: 108 

The Iron Workers Local 17 Pension Fund, which is based in Cleveland, Ohio, covers 1,900 participants in the construction  industry. 108 employers contribute to this pension plan. The Iron Workers Local 17 Pension Fund implemented a benefit cut under the Multiemployer Pension Reform Act (MPRA). 950 participants’ benefits were reduced, on average, by 30 percent. The approval of Iron Workers Local 17 Pension Fund’s application enables the plan to restore benefits previously cut under the MPRA, make payments to retirees to cover past benefit cuts, and pay retirement benefits without reduction for many years to come.

 

Management-Labor Pension Plan Local 1730 ILA (Longshoremen Local 1730 Plan) 

Retiree Pensions’ Saved: 478

Businesses Protected: 2

The Management-Labor Pension Plan Local 1730 ILA (Longshoremen Local 1730 Plan), which is based in Mastic, New York, covers 478 participants in the transportation industry. Two employers contribute to this pension plan. The Longshoremen Local 1730 Plan became insolvent in November 2020, and participants' benefits were cut. According to the PBGC, the Longshoremen Local 1730 Plan’s participants’ benefits were reduced by roughly 50 percent. The approval of the Longshoremen Local 1730 Plan’s application means that cuts to participants’ benefits will be restored.

 

Carpenters Industrial Council of Eastern Pennsylvania Pension Plan 

Retiree Pensions’ Saved: 242

Businesses Protected: 1

The Carpenters Industrial Council of Eastern Pennsylvania Pension Plan (Carpenters Pension Plan), which is based in Ashland, Pennsylvania, covers 242 participants in the construction industry. One employer contributes to this plan. The Carpenters Pension Plan became insolvent in October 2017, and participants’ benefits were cut.  According to the PBGC, the Carpenters Pension Plan’s participants’ benefits were reduced by roughly 5 percent. The approval of the Carpenters Pension Plan’s application means that cuts to participants’ benefits will be restored and the plan will be able to pay retirement benefits without reductions for many years to come. 

 

Local 365 UAW Pension Fund Pension Plan 

Retiree Pensions’ Saved: 3,736 

Businesses Protected: 3

The Local 365 UAW Pension Fund Pension Plan (Local 365 UAW Plan), which is based in Englewood Cliffs, New Jersey, covers 3,736 participants in the manufacturing industry. 3 employers contributes to this pension plan. The Local 365 UAW Plan became insolvent in December 2020, and participants' benefits were cut. According to the PBGC, the Local 365 UAW Plan’s participants’ benefits were reduced by roughly 20 percent. The approval of the Local 365 UAW Plan’s application means that cuts to participants’ benefits will be restored and the plan will be able to pay retirement benefits without reductions for many years to come. 

 

Local 805 Pension and Retirement Plan (Local 805 Plan)

Retiree Pensions’ Saved: 2,003

The Local 805 Pension and Retirement Plan (Local 805), which is based in New York, New York, covers 2,003 participants in the transportation industry. The Local 805 Plan implemented a benefit cut under the Multiemployer Pension Reform Act (MPRA) and was partitioned into two plans. All of the participants’ benefits were cut, and some were reduced, on average, by 41 percent.  The approval of the Local 805 Plan’s application rescinds the partition (so the plan is one plan again), restores all of the previous benefit cuts, enables the plan to pay retirement benefits without reductions for many years into the future.

 

Cement Masons Local Union 783 Pension Plan (Local 783 Plan)

Retiree Pensions’ Saved: 51

Businesses Protected: 3

The Cement Masons Local Union 783 Pension Plan (Local 783 Plan), which is based in Houston, Texas, covers 51 participants in the construction industry. 3 employers contributes to this pension plan. The Local 783 Plan became insolvent in November 2016, and participants' benefits were cut. According to the PBGC, the Local 783 Plan’s participants’ benefits were reduced by roughly 20 percent. The approval of the Local 783Plan’s application means that cuts to participants’ benefits will be restored.

 

Cement Masons Local Union 681 Pension Plan (Local 681 Plan)

Retiree Pensions’ Saved: 195  

Businesses Protected: 4

The Cement Masons Local Union 681 Pension Plan (Local 681 Plan), which is based in Houston, Texas, covers 195 participants in the construction industry. 4 employers contributes to this pension plan. The Local 681 Plan became insolvent in August 2016, and participants' benefits were cut. According to the PBGC, the Local 681 Plan’s participants’ benefits were reduced by roughly 15 percent. The approval of the Local 681 Plan’s application means that cuts to participants’ benefits will be restored.

 

Trucking Employees of North Jersey Welfare Fund, Inc. Pension Plan 

Retiree Pensions’ Saved: 6,121 

Businesses Protected: 43

The Trucking Employees of North Jersey Welfare Fund, Inc. Pension Plan (Trucking Employees Plan), which is based in Union City, New Jersey, covers 6,121 participants in the transportation industry. 43 employers contributes to this pension plan. The Trucking Employees Plan became insolvent in July 2021, and participants' benefits were cut. According to the PBGC, the Trucking Employees Plan’s participants’ benefits were reduced by roughly 50 percent. The approval of the Trucking Employees Plan’s application means that cuts to participants’ benefits will be restored.

 

Food Employers Labor Relations Association and United Food and Commercial Workers Pension Plan (FELRA Pension Plan) 

Retiree Pensions’ Saved: 51,500  

Businesses Protected: 3

The Food Employers Labor Relations Association and United Food and Commercial Workers Pension Plan (FELRA Pension Plan), which is based in Landover, Maryland, covers 51,500 participants in the service industry. 3 employers contributes to this pension plan. The FELRA Pension Plan was projected to run out of money in 2022. Without this assistance, the FELRA Pension Plan would have had to cut participants’ benefits.

 

Retirement Plan of Local 1482 – Paint and Allied Products Manufacturers Retirement Fund

Retiree Pensions’ Saved: 152

Businesses Protected: 1 

The Retirement Plan of Local 1482 – Paint and Allied Products Manufacturers Retirement Fund (Local 1482 Plan), which is based in the New York Metropolitan area, covers 152participants in the manufacturing industry. One employer contributes to this pension plan. The Local 1482 Plan became insolvent in May 2019, and participants' benefits were cut. According to the PBGC, the Local 1482 Plan’s participants’ benefits were reduced by roughly 35 percent. The approval of the Local 1482 Plan’s application means that cuts to participants’ benefits will be restored.

 

Graphic Communications Conference of the International Brotherhood of Teamsters National Pension Plan 

Retiree Pensions’ Saved: 31,715

Businesses Protected: 80 

The Graphic Communications Conference of the International Brotherhood of Teamsters National Pension Plan (GCC-IBT Plan), which is based in Carol Stream, Illinois, covers 31,715 participants in the printing industry. 80 employers contribute to this pension plan. The GCC-IBT plan was projected to run out of money in 2022. Without this assistance, the GCC-IBT plan would have had to cut participants’ benefits.  

*The number of businesses is based on the latest publicly available Form 5500 data provided by the Pension Benefit Guaranty Corporation (PBGC). Some of those businesses may participate in more than one plan.

 

Graphic Arts Industry Joint Pension Plan  

Retiree Pensions’ Saved: 9,854

Businesses Protected: 44

The Graphic Arts Industry Joint Pension Plan (Graphic Arts Plan), which is based in Washington, DC, covers 9,854 participants in the printing industry. 44 employerscontribute to this pension plan. The Graphic Arts Plan was projected to run out of money in 2022. Without this assistance, the Graphic Arts Plan would have had to cut participants’ benefits.

 

Teamsters Local 617 Pension Plan 

Retiree Pensions’ Saved: 891

Businesses Protected: 4

The Teamsters Local 617 Pension Plan (Local 617 Plan), which is based in Ridgefield, New Jersey, covers 891 participants in the transportation industry. 4 employers contribute to this pension plan. The Local 617 Plan became insolvent in March 2020, and participants' benefits were cut. According to the PBGC, the Local 617 Plan’s participants’ benefits were reduced by roughly 65 percent. The approval of Local 186 Plan’s application means that cuts to participants’ benefits will be restored.

 

Graphic Communications Union Local 2-C Retirement Benefit Plan

Retiree Pensions’ Saved: 535

Businesses Protected: 1

The Graphic Communications Union Local 2-C Retirement Benefit Plan (GCU 2-C Plan), which is based in Warren, Michigan, covers 535 participants in the printing industry. One employer contributes to this pension plan. The GCU 2-C Plan became insolvent in January 2015, and participants' benefits were cut. According to the PBGC, the GCU 2-C Plan’s participants’ benefits were reduced by roughly 60 percent. The approval of the GCU 2-C Plan’s application means that cuts to participants’ benefits will be restored.

 

Retirement Benefit Plan of GCIU Detroit Newspaper Union 13N with Detroit Area Newsaper Publishers

Retiree Pensions’ Saved: 563

Businesses Protected: 1

The Retirement Benefit Plan of GCIU Detroit Newspaper Union 13N with Detroit Area Newspaper Publishers (Detroit Newspaper Union Plan), which is based in Warren, Michigan, covers 563 participants in the printing industry. One employer contributes to this pension plan. The Detroit Newspaper Union Plan became insolvent in April 2019, and participants' benefits were cut. According to the PBGC, the Detroit Newspaper Union Plan’s participants’ benefits were reduced by roughly 35 percent. The approval of the Detroit Newspaper Union Plan’s application means that cuts to participants’ benefits will be restored.

 

San Francisco Lithographers Pension Plan

Retiree Pensions’ Saved: 1,572

Businesses Protected: 9

The San Francisco Lithographers Pension Plan (Lithographers Plan), which is based in San Francisco, CA, covers 1,572 participants in the printing industry. 9 employers contribute to this pension plan. The Lithographers Plan became insolvent in June 2021. According to the PBGC, the Lithographers Plan’s participants’ benefits were reduced by roughly 20 percent. The approval of the Lithographers Plan’s application means that cuts to participants’ benefits will be restored.

 

Laborer's Local 186 Pension Plan

Retiree Pensions’ Saved: 379

Businesses Protected: 52

The Laborers’ Local 16 Pension Plan (Local 186 Plan), which is based in Massena, New York, covers 379 participants in the transportation industry. 52 employers contribute to this pension plan. The Local 186 Plan became insolvent in July 2021, and participants' benefits were cut. According to the PBGC, the Local 186 Plan’s participants’ benefits were reduced by roughly 35 percent. The approval of Local 186 Plan’s application means that cuts to participants’ benefits will be restored.

 

Teamsters Local 641 Pension Plan

Retiree Pensions’ Saved: 3,610

Businesses Protected: 13

The Teamsters Local 641 Pension Plan (Local 641 Plan), which is based in Union, NJ, covers 3,610 participants in the transportation industry. 13 employers contribute to this pension plan. The Local 641 Plan became insolvent in March 2021, and participants' benefits were cut. According to the PBGC, the Local 641 Plan’s participants’ benefits were reduced by roughly 55 percent. The approval of Local 641 Plan’s application means that cuts to participants’ benefits will be restored. 

 

Milk Industry Office Employees Pension Plan

Retiree Pensions’ Saved: 78

Businesses Protected: 1 

The Milk Industry Office Employees Pension Plan (Milk Industry Plan), which is based in New York, New York, covers 78 participants. One employer contributes to this pension plan. The Milk Industry Plan became insolvent in January 2017, and participants’ benefits were cut. According to the PBGC, the Milk Industry Plan’s participants’ benefits were reduced by roughly 20 percent. The approval of the Milk Industry Plan’s application means that cuts to participants’ benefits will be restored. 

 

Local 584 Pension Plan

Retiree Pensions’ Saved: 2,172

Businesses Protected: 10 

The Local 584 Pension Plan (Local 584 Plan), which is based in New York, New York, covers 2,172 participants in the transportation industry. 10 employers contribute to this pension plan. The Local 584 Plan became insolvent in July 2021, and participants’ benefits were cut. According to the PBGC, Local 584 Plan’s participants’ benefits were reduced by roughly 50 percent. The approval of Local 584 Plan’s application means that cuts to participants’ benefits will be restored. 

 

Local 408 International Brotherhood of Teamsters, Chauffeurs, Warehousemen and Helpers of America Pension Plan

Retiree Pensions’ Saved: 1,058

Businesses Protected: 27

The Local 408 International Brotherhood of Teamsters, Chauffeurs, Warehousemen and Helpers of America (Local 408) Pension Plan, which is based in Union, NJ, covers 1,058 participants in the transportation industry. 27 employers contribute to this pension plan. Local 408 became insolvent in September 2021, and participants’ benefits were cut. According to the PBGC, Local 408 participants’ benefits were reduced by roughly 60 percent. The approval of Local 408’s application means that cuts to participants’ benefits will be restored. 

 

Road Carriers Local 707 Pension Plan

Retiree Pensions’ Saved: 3,804

Businesses Protected: 8

The Road Carriers Local 707 Pension Plan (Local 707), which is based in Hampstead, NY, covers 3,804 participants in the transportation industry. Eight employers contribute to this pension plan. Local 707 became insolvent in 2017, and 90 percent of participants’ benefits were cut. According to the PBGC, 44 percent of the Local 707 retirees and beneficiaries had benefit reductions of more than 50 percent. The approval of Local 707’s application means that cuts to participants’ benefits will be restored.

 

Bricklayers and Allied Craftworkers Local 5 New York Retirement Fund Pension Plan

Retiree Pensions’ Saved: 821

Businesses Protected: 69 

The Bricklayers and Allied Craftworkers Local 5 New York Retirement Pension Plan (Bricklayers Local 5), which is based in Newburgh, NY, covers 821 participants in the construction industry. 69 employers contribute to this pension plan. Without this assistance, Bricklayers Local 5 was projected to run out of money in 2022 and, once that happened, participants' benefits would have been cut.

 

Idaho Signatory Employers-Laborers Pension Plan

Retiree Pensions’ Saved: 682

Businesses Protected: 59

The Idaho Signatory Employers-Laborers Pension Plan (Idaho-Signatory), which is based in Portland, Oregon, covers 682 participants in the construction industry. 59 employers contribute to this pension plan. Without this assistance, Idaho Signatory was projected to run out of money in 2022 and, once that happened, participants' benefits would have been cut.

 

Local 138 Pension Plan

Retiree Pensions’ Saved: 1,723

Businesses Protected: 7

The Local 138 Pension Plan, which is based in Baldwin, New York, covers 1,723 participants in the transportation industry. Seven employers contribute to this pension plan. Without this assistance, Local 138 was projected to run out of money in 2022 and, once that happened, participants' benefits would have been cut.