Plan to save truckers' and miners' pensions is running out of time

Discussion in 'The Latest UPS Headlines' started by cheryl, Jul 25, 2019.

  1. cheryl

    cheryl I started this. Staff Member

    Plan to save truckers' and miners' pensions is running out of time - MSN

    U.S. senators are gearing up for a battle over how to fix the pensions of about 1.3 million retirees and workers in trucking, mining and other industries.

    These workers are covered by what are known as multiemployer pension funds, which are maintained under collective-bargaining agreements between a union and several different employers. The plans in the worst financial condition are short an estimated $100 billion to pay out retirees.

    “We hope that recent legislative action in the House will lead to bipartisan, bicameral discussions resulting in comprehensive legislation that can be enacted this year,” said United Parcel Service Inc. spokesperson Kara Ross. UPS truck drivers and package handlers participate in multiemployer plans.