Teamsters’ pensions get $36B bailout from Biden

December 12, 2022

President Joe Biden on Thursday, Dec. 8, announced a $36 billion pension bailout for the Central States Pension Fund, preventing cuts to the pensions of more than 350,000 workers in the Teamsters union, among others.

The funding was made possible by the American Rescue Plan, which was signed into law by Biden in March 2021.

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