December 3, 2014: Behind closed doors, a handful of Congressional representatives are planning to pass a major change to federal pension law, by making a last-minute amendment to the omnibus budget bill which Congress must pass by December 11 to avoid a shutdown. You need to take action now to stop this sneak attack. Does that seem like the right way to consider the future of pensions for hundreds of thousands of Teamsters and millions...
Curt Guyette
Labor Notes
December 02, 2014
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Here’s what’s really being missed in most snapshot explanations of Detroit’s bankruptcy: the unprecedented hit being taken by retirees who believed that, after working throughout their lives, they would be secure in their old age.
And Detroit sets a dangerous precedent. Your city’s retirees may be next in the crosshairs.
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Murtaza Hussain The Intercept November 25, 2014 View the original piece Coverage of the midterm elections has, understandably, focused on the shift in political power from Democrats toward Republicans. But behind the scenes, another major story has been playing out. Wall Street spent upwards of $300M to influence the election results. And a key part of its agenda has been a plan to move more and more of the $3 trillion dollars in unguarded government pension funds into privately managed, high-fee investments...
Nick Thornton
Benefits Pro
November 20, 2014
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Could it be that the vast majority of the country’s multiemployer pension plans are in fine shape?
The headlines around multiemployer plans this year have not been pretty, so it’s easy to assume they’re all in trouble.
Click here to read more at Benefits Pro.
November 18, 2014: Unless we act now, Congress may end up cutting a legislative deal by year’s-end to allow pension plan trustees to slash the already-earned benefits of retirees as a purported way of saving deeply-troubled multiemployer plans. This would be a radical departure from the federal pension law and it would wipe out the anti-cutback rule which states unequivocally that once a retiree starts receiving a pension – it cannot be taken away unless...
Martin Luther King, Jr. believed the fight for civil rights and labor rights were inseparable. King was assassinated on April 4, 1968 in Memphis, Tennessee while supporting black sanitation workers who went on strike for a union.