Brown Touts Plan At Spangler

Senator, Sherrod Brown of Ohio…stops by Spangler Candy…to celebrate passage of The Butch-Lewis Act…it keeps multi-employer pension plans solvent and well-funded for thirty years, with no cuts to earned benefits of participants and beneficiaries. It restores full benefits for retirees in plans that previously had to take cuts…and increases the maximum Pension Benefit Guaranty Corporation insurance amount. It also requires each plan that receives assistance to file regular status reports with the several Congressional Committees, in order to prevent a recurrence of insolvency and to protect retirees’ benefits. Officials tell reporters…the multi-employer pension fix saved Spangler’s an estimated $200,000 per employee…and has allowed the company to expand its operations with a new West Campus, focusing on production of Bit-O-Honey, the candy brand Spanglers acquired in 2020.