Earn, Save, Retire
It's as simple as that
Our members go to work every day to provide for their families – and to one day enjoy a hard-earned retirement. Politicians in Washington should protect the multiemployer pension system because if even one plan fails, we’re all at risk.
For years, we worked with our allies in the Building Trades unions to advance legislation in Congress that would protect several union pension plans from failing. Known as the Butch Lewis Act, this legislation would restore funding for these plans and protect the entire multiemployer pension system.
In 2021, the Butch Lewis Act passed as part of President Biden's American Rescue Plan.
On the heels of the COVID-19 pandemic, the UA worked closely with our allies in Congress and the Biden administration to not only get our country moving again – but to protect the entire multiemployer pension system.
The $86b in funding from the Butch Lewis Act saved several plans from failing – most notably the Teamsters pension – that threatened the entire multiemployer system.
We work hard for a living so that one day, we can retire with dignity.
The multiemployer pension system, governed by the Employee Retirement Income Security Act of 1974 (ERISA), establishes minimum standards for pension plans. ERISA created the Pension Benefit Guaranty Corporation (PBGC) to administer, maintain, and insure defined benefit pension plans. Simply put: these government actions are designed to protect the hard-earned retirements of the workers who build this country.
Our Department works with both parties in Congress to ensure the PBGC and ERISA provisions continue to safeguard our pension plans.
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