Congressional leaders hammer out deal to allow pension plans to cut retiree benefits

Michael A. Fletcher
The Washington Post
December 10, 2014

A bipartisan group of congressional leaders reached a deal Tuesday evening that would for the first time allow the benefits of current retirees to be severely cut, part of an effort to save some of the nation’s most distressed pension plans.

The measure, attached to a massive $1.01 trillion spending bill, would alter 40 years of federal law and could affect millions of workers, many of them part of a shrinking corps of middle-income employees in businesses such as trucking, construction and supermarkets.

Click here to read more at The Washington Post.


Be the first to comment

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

Recent News

UPS Proposes 70-Hour Work Week

Teamsters United reports that UPS has a contract proposal on the table that gives the company the right to force package drivers to work up to 70 hours a week anytime they deem it necessary “to avoid service disruptions.”

 

In Divided Vote, IBT Moves Ahead with Pension Threat at ABF

(Reprinted from www.ABFTeamstersUnited.org) A divided IBT General Executive Board voted 13-9 to move ahead with the ABF ratification vote and rejected a motion to fix the pension freeze that threatens the retirement benefits of hundreds of ABF Teamsters.

View More News Posts