Freewill
Platinum Member
- Oct 26, 2011
- 31,158
- 5,073
Could be coming to a retirement home near you. Yeah Unions take care of their people.
The Teamsters have begun informing retirees and current workers that their pension benefits may soon be cut, the final ironic twist to a lobbying campaign that saw the union spend its own members’ dollars to win the right to shrink their retirement pay.
The somber notifications began going out from the Teamsters Central States Health and Welfare Pension Fund this spring, a decision that could ultimately affect 410,000 current pension participants and a total of more than 10 million U.S. workers nationwide. Cuts could begin as early as next year.
The cuts were made possible after the lame-duck Congress late last year passed the Multiemployer Pension Reform Act (MPRA), enabling any multiemployer pension fund to cut benefits to workers and current retirees if the plan is underfunded by at least 20 percent.
Read more: Teamsters spend big on politics while preparing to cut pensions - Washington Times
Follow us: @washtimes on Twitter
The Teamsters have begun informing retirees and current workers that their pension benefits may soon be cut, the final ironic twist to a lobbying campaign that saw the union spend its own members’ dollars to win the right to shrink their retirement pay.
The somber notifications began going out from the Teamsters Central States Health and Welfare Pension Fund this spring, a decision that could ultimately affect 410,000 current pension participants and a total of more than 10 million U.S. workers nationwide. Cuts could begin as early as next year.
The cuts were made possible after the lame-duck Congress late last year passed the Multiemployer Pension Reform Act (MPRA), enabling any multiemployer pension fund to cut benefits to workers and current retirees if the plan is underfunded by at least 20 percent.
Read more: Teamsters spend big on politics while preparing to cut pensions - Washington Times
Follow us: @washtimes on Twitter