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

 

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. XX employers contributes to this pension plan. 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: 

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.