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Stimulus package includes $86 billion bailout for union pensions

An $86 billion bailout for nearly 200 union pensions was included in the Democrats’ massive stimulus package, which President Joe Biden is expected to sign. The union bailout, among the $1.9 trillion coronavirus relief package’s provisions unrelated to the pandemic, rescues 185 pension plans across several states.


McClaughry: Retirement fund blues

The total of the two pension funds and expected OPEB obligations went from $4.637 billion a year ago to the present $5.657 Billion. That’s an increase in required expenditures of over a billion dollars in a single year. How did we get to this dismal situation?