: Controversial pension rescue plan finalized

United States

The White House on Wednesday heralded the finalization of a hotly debated plan to stabilize troubled pensions. 

Speaking in Cleveland, where he was joined by union workers and retirees, President Joe Biden announced a final rule implementing a financial assistance program for multiemployer pension plans. “Those retirees who lost their benefits will have them restored retroactively,” Biden said. “We turned a promise broken into a promise kept.”