More than 20,000 New Yorkers who lost their retirement savings will get help from the American Rescue Plan, according to the union’s president.
Frank DeRiso, president of United Food Commercial Workers Union Local 1, told Spectrum News 1 that special financial assistance from American Rescue Plan money is going to make the shortfalls right.
Members of the UFCW, who work at places like Tops and Shop-Rite, had their pensions impacted by the crash of 2008 and then the bankruptcy filing by Tops in 2018, making their pension fund insolvent, DeRiso said.
The geographic reach of the union stretches from Erie, Pa., to Plattsburgh.
This is a very big deal, today we are announcing 764 million dollars for over 19 thousand retirees and workers,” sa…
Read the full article at: https://spectrumlocalnews.com/nys/central-ny/business/2023/08/03/white-house-to-inject-money-into-insolvent-pension-fund