Keystone Today

An estimated 6,700 Pennsylvania workers and retirees’ pensions will be protected

Pension plan primarily serves United Steelworkers and United Auto Workers

American Rescue Plan has saved the pensions of at least 31,700 worker and retirees in PA-based plans so far

Washington, D.C. - On June 29, 2023, U.S. Senator Bob Casey (D-PA) applauded the announcement that the pension of approximately 6,700 Pennsylvania workers and retirees will be protected, thanks to the American Rescue Plan.The workers and retirees impacted are primarily United Steelworker (USW) and United Auto Workers (UAW) members.  

“The promise of a pension is a promise we’re supposed to keep,” said Senator Casey. “With today’s announcement, thousands of Pennsylvania steelworkers and auto workers can rest easy knowing that the benefits they’re owed will be waiting for them when they retire.” 

The Pension Benefit Guaranty Corporation (PBGC) announced $860 million in relief to the National Integrated Group Pension Plan (NIGPP). This will benefit approximately 48,000 workers nationally, including 6,700 workers and retirees in Pennsylvania. The funding comes from the PBGC’s Special Financial Assistance program, which was created by the American Rescue Plan. The American Rescue Plan passed the Senate by a vote of 50-49, and the House of Representatives by a vote of 220-211. No Republican Member of Congress voted in support of the law. 

Original source can be found here.