WASHINGTON, D.C. — U.S. Senator Bob Casey has announced the protection of pensions for nearly 11,000 grocery store workers and retirees in Pennsylvania. This financial security is a direct result of the American Rescue Plan, which Senator Casey supported and helped pass. The initiative has provided critical relief to more than 65,000 Pennsylvanians to date.
The United Food and Commercial Workers Union Local 152, representing employees from Acme Markets and other regional stores, will benefit from approximately $684.4 million in funds allocated by the Pension Benefit Guaranty Corporation (PBGC). This funding is essential in preserving the pensions of 10,934 workers and retirees. Without this intervention, their pension plans were at risk of depletion by 2028, potentially leading to a 15 percent reduction in benefits and federal intervention funded by taxpayers.
Senator Casey highlighted the significance of this financial protection, stating, “Workers are the backbone of our Commonwealth and thanks to the American Rescue Plan, tens of thousands of families can continue relying on their pensions without worrying that their plans may be cut. I fought for this fix because I know how critical pensions are to the futures of thousands of Pennsylvania families, and how scary it was for those families to face the possibility of the rug being pulled out from underneath them.”
The PBGC’s Special Financial Assistance program, an initiative created under the American Rescue Plan, is responsible for this substantial financial support. The plan, passed narrowly in Congress without Republican backing, aims to stabilize pension plans that are pivotal to the livelihoods of many American workers.
This relief effort marks the eighth instance of a Pennsylvania-based pension plan receiving aid, joining other recipients such as the Western Pennsylvania Teamsters and Employers Pension Fund, and the Carpenters Industrial Council Eastern PA Pension Plan, among others. Each of these interventions underscores the ongoing commitment to securing the retirement benefits of hard-working families across the state and the nation.
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