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The Butch Lewis Act is an act of the United States Congress that would allow the United States Treasury to provide financial assistance to failing multiemployer pension plans. [1] This assistance would come in the form of grants that would not need to be repaid to the Department of Treasury and would allow retirees to receive the entirety of ...
Along with ratifying the Social Security Fairness Act, earlier in his presidency Biden signed the Butch Lewis Act into law, which saved the retirement pensions of two million union workers.
The Butch Lewis Act is designed to ultimately stall the insolvency of roughly 200 multi-employer pension plans for 30 years. Many workers were facing cuts to their benefits of up to 50%, which would have caused massive economic damage to more than 2 million retired and retiring Americans.
The legislation championed by Hoffa and the Teamsters was known as the Butch Lewis Act, named after a Teamster retiree pension activist, and became law as part of President Biden's American Rescue Plan stimulus package in 2021. [7]
The American Rescue Plan Act of 2021, also called the COVID-19 Stimulus Package or American Rescue Plan, is a US$1.9 trillion economic stimulus bill passed by the 117th United States Congress and signed into law by President Joe Biden on March 11, 2021, to speed up the country's recovery from the economic and health effects of the COVID-19 pandemic and recession. [1]
Biden and the Teamsters discussed topics such as the Butch Lewis Act — a measure Biden signed into law that shored up pensions for scores of workers — Social Security and Medicare, while the ...
Rumors started coming in that a $2,000 economic relief package would arrive sometime during October. Discussions on social media and some websites suggested a possible $2,000 stimulus check for...
Along with ratifying the Social Security Fairness Act, earlier in his presidency Biden signed the Butch Lewis Act into law, which saved the retirement pensions of two million union workers. Associated Press writer Stephen Groves contributed to this report.