Publications & Presentations
March 11, 2021

American Rescue Plan Brings $86 Billion in Relief to Failing Multiemployer Pension Plans

Co-Author, Polsinelli At Work Blog

The American Rescue Plan that was sent to President Biden’s desk on March 11, 2021 includes an $86 Billion aid package that provides financial assistance to underfunded multiemployer pension plans facing critical or declining financial status. Upon signature, the bill will provide eligible underfunded plans with “special financial assistance.” The special financial assistance is designed to cover the payments of accrued pension benefits through the 2051 plan year and is not subject to any repayment obligations.