Devil's In The Details As Union Pension Crisis Awaits Biden

Law360 (January 3, 2021, 12:02 PM EST) -- President-elect Joe Biden is expected to eventually sign a legislative fix for the funding crisis currently threatening union retirees' pensions, but exactly what that solution will look like will depend on Congress, experts say.

Time is running out to secure that solution, and with it the savings of millions of union retirees, because the federal safety net for struggling union pension plans is slated to run out of money by 2026 unless Congress acts.

The long-building union pension crisis also loomed large during the Trump administration, whose most notable attempt to fix it collapsed at the end of 2018 when a...

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