“This suite of target date CIT funds is a welcome addition to the lineup of financial products which carry the AFL-CIO name,” said AFL-CIO President Richard Trumka. “Defined benefit plans remain the bedrock of a secure retirement. However, the Labor Movement’s philosophy that all Americans are entitled to retire with dignity and financial security dictates that we must also ensure that defined contribution investors’ interests are protected. This product provides a cost-effective solution that brings this proposition to life.

Walsh's confirmation was a victory for AFL-CIO President Richard Trumka, who rallied his federation of 56 unions to back the Boston mayor soon after Biden won the election in November. "It's difficult to overstate the importance of this moment," Trumka said. "For four years, working families have lived with a Labor Department devoted to serving a handful of elite interests. Now, the power to enforce safety and equity in our workplaces has been handed from a ruthless corporate lawyer to a proud union brother."

Last week, President Joe Biden signed into law the American Rescue Plan, a $1.9 trillion investment in our country’s recovery and future success. AFL-CIO affiliate unions released a flurry of statements praising the bill’s enactment and highlighting how the American Rescue Plan will help our members.