Main article: Pensions in the United States
2022: US authorities allocate $36 billion to save Teamster
In December 2022, it was announced that the US president was allocating almost $36 billion to save Teamster, one of the largest and most problematic pension funds that manages the savings of 357,000 workers and pensioners. Without federal assistance, Teamster members would have lost 60% of their regular retirement payments on average in a couple of years.
The money comes from the American Rescue Plan, a $1.9 trillion fiscal support package approved by law in 2021. The program has already provided assistance to 36 troubled pension funds (550 thousand pensions and almost 2,000 employers), but none of them received more than $1.2 billion at a time. In total, there are more than 200 problem funds, and the planned amount of assistance is estimated at $90 billion.
Rep. Virginia Fox of North Carolina, the top Republican on the House Education and Labor Committee, called the package "reckless use of taxpayer dollars" in a statement.
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