cheka.
8th October 2015, 12:33 PM
love it. the solidly dimocratic unions getting their noses rubbed in reality. maybe some will realize they have NO representation in nyc/dc
http://inthesetimes.com/working/entry/18420/MPRA-pension-cuts-teamsters-bernie-sanders
The immediate target of the angry Teamsters was the U.S. Department of the Treasury, which is in charge of administering the new law, the Multiemployer Pension Reform Act of 2014 (MPRA). Government officials sponsored the first-ever public hearing on MPRA last week, and the retired workers swarmed the meeting to make it clear they are alarmed and unhappy at the likelihood that the Teamsters Central States Pension Fund is at the top of the list for cuts.
Amsden and other union members face cuts because MPRA allows pension fund trustees new freedom to reduce promised benefits in cases where the long-term solvency of the fund is in danger. Under MPRA, any such cuts must be approved by the Treasury Department first, and government officials are currently in the process of writing the rules and regulations of the approval process.
Hundreds of thousands of retired food workers, bricklayers pipefitters and other retirees are also in danger of losing up to 60 percent of their pensions. Most of them just don't know it yet," said Karen Friedman, Executive Vice President of the Washington-based Pension Rights Center.
http://inthesetimes.com/working/entry/18420/MPRA-pension-cuts-teamsters-bernie-sanders
The immediate target of the angry Teamsters was the U.S. Department of the Treasury, which is in charge of administering the new law, the Multiemployer Pension Reform Act of 2014 (MPRA). Government officials sponsored the first-ever public hearing on MPRA last week, and the retired workers swarmed the meeting to make it clear they are alarmed and unhappy at the likelihood that the Teamsters Central States Pension Fund is at the top of the list for cuts.
Amsden and other union members face cuts because MPRA allows pension fund trustees new freedom to reduce promised benefits in cases where the long-term solvency of the fund is in danger. Under MPRA, any such cuts must be approved by the Treasury Department first, and government officials are currently in the process of writing the rules and regulations of the approval process.
Hundreds of thousands of retired food workers, bricklayers pipefitters and other retirees are also in danger of losing up to 60 percent of their pensions. Most of them just don't know it yet," said Karen Friedman, Executive Vice President of the Washington-based Pension Rights Center.