Bill Could Slash Pensions Across America

Scott Taylor
19 Action News
December 06, 2014

(WOIO) - A new bill that could be passed before Congress leaves for winter break has a lot of retirees upset.

Donna and Daniel McAuliffe are heading into a nightmare next week, as Congress could pass a bill that opponents say will slash some retiree's pensions by 65 percent. This scares the Brunswick couple.

"It's going to hurt and it's going to hurt a lot of families," said Donna.

Supporters of the bill that will remove a longstanding anti-cutback on pension law believe if the bill fails, some pensions could be exhausted by 2021.

Daniel, who worked for Yellow Trucking for 32 years, says he earned his pension through a lifetime of hard work. 

His biggest fear now?

"My house, everything I own. If this goes through, I am done," said Daniel.

The Northeast Ohio Committee to Protect Pensions was born in March and wants politicians to consider merging plans or a pension bailout. The group believes some in Congress want to sneak this bill through in only a matter of days.

"Especially trying to tack this important bill onto something that is meaningless, to push it through Congress in four days, that you have something you could have taken care of all year," said Mike Walden, with NOCPP.

Donna is wondering if anyone on Capitol Hill is listening.

"I would hope they care. This is America. Nobody thinks this kinda thing is going to happen to us," said Donna.

If passed, the bill could affect 10 million retired Americans.


Be the first to comment

Please check your e-mail for a link to activate your account.
Get Advice Join TDU Donate

Recent News

Vote No at UPS Action Kit

Take action to defeat givebacks at UPS with the latest contract bulletins and Vote No tools.

Central States Pension: Latest Financial Report

The Central States Pension Fund ended the first quarter of 2018 with assets of $14.8 billion, a loss of $172 million for the quarter ending March 31, 2018. However, the loss would have been much worse except for a one-time payment of $467 million by the Kroger Corporation; this was a lump sum payment to pull all Kroger and some Kroger-contractor employees out of the pension fund permanently.

View More News Posts