Covid-19 relief bill passed includes pension relief
WASHINGTON (KVRR) – The $1.9 trillion relief bill passed by Congress Wednesday includes an expanded version of the Butch Lewis Emergency Pension Plan Relief Act.
It includes an infusion of federal money to certain union-managed pension plans, with no repayment obligations.
North Dakota Fargo Committee to Protect Seniors’ Rights’ main focus was saving pensions and now they finally see a huge win to a battle that has lasted nearly a decade.
Without the government holding up its side of the deal, many pensions would be erased.
“Some of them are close to retiring and they’ve got, they’ve given up wage increases to have their pensions paid into. Some of them for like 40 years. Can you imagine someone getting to retirement age and someone says ‘Well there’s nothing going to be there for you.’ I mean, it’s immoral,” Steve Nolan with North Dakota Fargo Committee to Protect Seniors’ Rights said.
Nolan adds with that issue lifted off of his shoulders he’s looking forward to finally relaxing during retirement.