BALTIMORE, Sept. 12, 2023 ~ The International Association of Bridge, Structural, Ornamental, and Reinforcing Iron Workers (IW) celebrated the announcement that President Biden's American Rescue Plan will provide special financial assistance to save the pension plan for Iron Workers Local 16 retirees in Baltimore. The rescue package, amounting to approximately $75 million, will ensure financial security for hundreds of dedicated members and their families.

Eric Dean, General President of the Iron Workers Union, expressed his gratitude for the rescue assistance. "This financial assistance ensures that our members who put in a lifetime of work at Local 16 in Baltimore regain the retirement security they deserve," said Dean. "In concert with the Biden administration, we have been given rescue assistance for thousands of our members whose pension funds fell on hard times. Time and again, proving that this administration has the working class at the forefront of their agenda."

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The rescue plan comes at a crucial time and will provide much-needed relief to the participants of Local 16's pension plan, many of whom have devoted their entire lives to shaping the infrastructure of Baltimore and its surrounding regions. Buddy Cefalu, Former Iron Workers Mid-Atlantic States District Council President and Local 16 Retiree said: "This is a dream come true for the retirees who were affected by these drastic cuts that Local 16 had to make to their pension plan... Without the American Rescue Plan Act (ARPA), this announcement would be impossible."

Joe Biden signed ARPA as his first major legislation as president. This funding is a testament to his commitment and value placed on ironworkers' hard work and dedication. The IW represents 128,000 ironworkers in North America who work in construction on bridges; structural steel; ornamental, architectural, and miscellaneous metals; rebar; and in fabrication shops. With this new financial assistance from ARPA, these workers can now look forward to retirement security they deserve after years of hard work.

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