036: PENSIONS PROTECTED | BCTGM Leaders Retell What Happened to our Pensions, How they Were Saved and What to Expect Going Forward
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036: PENSIONS PROTECTED | BCTGM Leaders Retell What Happened to our Pensions, How they Were Saved and What to Expect Going Forward
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On July 22, 2024 a wire transfer of $3.3 billion in relief funds from the Pension Benefit Guaranty Corporation (PBGC) to the B&C Industry International Pension Fund was completed. The fight for the Butch Lewis Act - which began in 2017 and passed as a pension provision in the 2021 American Rescue Plan - was realized.
President Shelton sent a memo to U.S. BCTGM Local Unions that day announcing: "Our money is in the bank. The promise of pension reform has been realized for more than 100,000 BCTGM retirees."
We hear from BCTGM Leaders who worked for many years to save our pensions:
- Anthony Shelton, BCTGM International President
- Harry Kaiser, Retired Asst. to the President/Political Director
- Elizabeth Briere, Pension Fund Manager, B&C Trust Funds
- with historical clips from Senator Sherrod Brown (D-Ohio) and former BCTGM International Presidents David B. Durkee and Frank Hurt
We dedicate this episode to our late president David B. Durkee, who fought for his entire time in office to fix the pension crisis. His legacy now underscores the security of generations of BCTGM Retirees, who will live the sunset years of their lives in dignity thanks to his passion and diligence.