As it turned out, a bad stock market and rocky economy is just as bad for pension fund investments as it is for everyone else’s. It sucks, of course, but it’s not as if this comes as a surprise. Unless you’re a Teamster. And unless your president really loves unions and wants your love in return.
President Biden announced Thursday that he was investing $36 billion in federal funds to save the pensions of more than 350,000 union workers and retirees, a demonstration of commitment to labor just a week after a rupture over an imposed settlement of a threatened rail strike.

