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Yahoo Finance

Biden travels to Ohio to spotlight $86 billion for troubled retirement plans

The American Rescue Plan is greatest recognized for its $1,400 stimulus checks, increasing the Youngster Tax Credit score, support to native governments, and extra just lately, probably contributing to inflation.
However a lesser recognized portion of the large invoice despatched $86 billion to assist many financially troubled retirement plans.
President Biden is trying to spotlight that controversial provision Wednesday, showing at a Cleveland highschool to tout the American Rescue Plan’s Particular Monetary Help program, which is supposed to shore up troubled multi-employer pension plans throughout the nation, together with Ohio, the place many unionized staff entered into the plans solely to see them shortly veer in the direction of insolvency.



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