Pension Relief Proposed in New COVID-19 Bill
March 2, 2021
Among the many provisions under consideration in the newest federal relief package, huge progress has been made to include substantial and long-awaited relief for both single- and multi-employer pension plans.
The Butch-Lewis Emergency Pension Plan Relief Act of 2021 is included in the larger COVID-19 bill rapidly making its way through Congress and would relieve the current strain on both single- and multi-employer plans. This section-by-section summary (PDF) is just three pages and your quickest route to an overview of the current status of the proposed relief, as Congress continues to work to finalize the overall COVID-19 package in the coming days.
The League is grateful to the American Federation of Musicians for its partnership and leadership in the years that have built toward advancing this policy action. Orchestras participating in both single- and multi-employer plans can continue to speak up to let Congress know that pension provisions must be included in the final COVID-19 relief package. On the multi-employer front, the American Federation of Musicians and Employers’ Pension Fund (AFM-EPF) has posted a message on its Congressional action page expressing support for the legislation and providing a sample message for AFM-EPF participating employers and musicians to use when weighing in with Congress.