Apr 2, 2021 | News Story

Rolling Stone: ‘It Rescued Our Entire Plan Overnight.’ How Joe Biden Will Help Rockers Retire

Local 802 was featured in a major Rolling Stone story this week about how the American Rescue Plan saved the musicians' pension. Local 802 president Adam Krauthamer told Rolling Stone that the American Rescue Plan "rescued our entire plan overnight. Some people were facing cuts of upwards of 30 to 45 percent of their hard-earned retirement benefits. It changed our outcome overnight in a way that is hard to quantify other than to say that [it] put a lot of people’s lives back together.” The same story also featured Local 802 member Marc Ribot, who said that the pension rescue is "a poignant issue for me...One of the very few good things about being a rocker who’s 66 — maybe the only good thing — is that you can collect stuff like cheap health insurance and pensions. What keeps me at it are those few rewards.” On a related note, Senator Chuck Schumer recently appeared with Local 802 member Justin Goldner in a public announcement of some of the American Rescue Plan's benefits for musicians and other artists.