WASHINGTON — Today, President Joe Biden announced the release of the final rule for the Special Financial Assistance Program, an initiative of the American Rescue Plan that provides funding to improve the solvency of multiemployer pensions, aiding millions of workers and assisting over 200 multiemployer plans that faced the prospect of benefit cuts.
“Today’s action by President Biden ensures that millions of hardworking Americans will receive the pension benefits they worked all their lives for and feared were lost,” Secretary Yellen said. “This action will have a significant impact on the lives of workers and their families, and represents one of the most meaningful improvements in our nation’s retirement security in years. In addition, this initiative extends the solvency of the program that insures multiemployer pensions by nearly three decades.”
WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released enforcement actions taken against…
As Prepared for Delivery Good afternoon. It’s an honor to welcome President Clinton to Treasury today…
WASHINGTON – Today, as part of the 30th anniversary celebration of the Community Development Financial…
Treasury imposes sanctions on dozens of Russian banks, securities registrars, and finance officials; OFAC issues…
WASHINGTON—Acting Comptroller Michael J. Hsu today testified on the state of the federal banking system…
As Prepared for Delivery Thank you very much for the opportunity to be here today, and…