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‘A Pension Is A Promise’ - Biden Administration & U.S. Senator Casey Announce Pension Protections For BCTGM Members & Retirees

Published Friday, June 28, 2024
by National AFL-CIO News
‘A Pension Is A Promise’ - Biden Administration & U.S. Senator Casey Announce Pension Protections For BCTGM Members & Retirees

(HERSHEY, PENNSYLVANIA) - Bakery, Confectionery, Tobacco Workers and Grain Millers (BCTGM) International President Anthony Shelton visited Hershey, Pennsylvania - along with Members and Retirees of BCTGM Local 6, for a historic update on pension reform from White House Senior Advisor and American Rescue Plan (ARP) Implementation Coordinator Gene Sperling and U.S. Senator Bob Casey.

President Biden highlighted that one million pensions have now been saved under the ARP, protecting the promise of dignified retirement for people across the country.

Assistance through the 2021 Biden Administration Stimulus Bill will prevent benefit cuts for roughly 103,000 Manufacturing, Production, Maintenance and Sanitation Workers, and Retirees who are represented by the BCTGM.

These Members already have earned their pension benefits over their years of service - but were facing benefit reductions of approximately 45% by the end of the decade.

Instead, thanks to ARP, the plan will now be projected to pay full benefits to Workers and Retirees through at least 2051.

This is the second largest award to date through the ARP’s Butch Lewis Act.

Over 52,000 Pennsylvanians, 71,000 Illinoisans, 71,000 New Yorkers, 62,000 Ohioans, 61,000 Michiganders, 39,000 Missourians, 33,000 Wisconsinites and many more Americans have had their pensions preserved by the Biden Administration.

For More On This Labor News Story, Go To: BCTGM | The Bakery, Confectionery, Tobacco Workers and Grain Millers International Union | Biden Administration and Sen. Casey announce assistance for over 100,000 BCTGM workers and retirees covered by the B & C Pension Fund

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