Application For $182.6 Million Has Been Approved
LEBANON, OH -- The Pension Benefit Guaranty Corporation announced it has approved the application for $182.6 million in Special Financial Assistance Program funding for the Southwest Ohio Regional Council of Carpenters Pension Plan that covers 5,399 participants in the construction industry around the region.
Established in 2021 by the American Rescue Plan, the Pension Benefit Guaranty Corporation’s Special Financial Assistance Program provides funding to severely underfunded multiemployer pension plans in order to ensure that workers, retirees, and their families receive the pension benefits they earned.
“The American Rescue Plan helped us keep the city going when I was at City Hall, to pay our bills, protect city jobs, and maintain city services,” said Landsman. “Now it’s helping restore pension cuts, this time for our Carpenters, who have literally helped build our communities. This puts money in their pockets, allows them to pay their bills, and strengthens local economics as these dollars are spent here at home.”
More information on the Pension Benefit Guaranty Corporation’s Special Financial Assistance Program funding for the Southwest Ohio Regional Council of Carpenters Pension Plan can be found here.
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