Union Workers Warn Nancy Pelosi’s Coronavirus Plan Guts Pensions

Baba gounj

You cannot multiply wealth by dividing it!
Union Coalition Letter to Congress | Pension | Retirement


“Composite legislation is deeply flawed because it allows multiemployer plan trustees to ‘refinance’ their obligations to workers and retirees in the existing plan over 25 years instead of 15 years, so they can divert money to start a new composite plan,” the letter stated. “This weakens the existing plan and leaves neither plan — the existing plan nor the composite plan — with enough money to pay promised benefits.”

The letter was signed by the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union (BCTGM), the Directors Guild of America (DGA), the International Brotherhood of Boilermakers, the International Alliance of Theatrical Stage Employees (IATSE), the International Assoc. of Machinists & Aerospace Workers, the International Longshore and Warehouse Union (ILWU), the International Union of Painters and Allied Trades (IUPAT), the Musicians for Pension Security, the Pension Rights Center, the SEIU, the United Food and Commercial Workers International Union (UFCW), the United Steelworkers, and the Western Conference of Teamsters Pension Trust.

Labor leaders for the United Steelworkers (USW) and the International Brotherhood of Electrical Workers (IBEW) likewise urged their members to write letters to Congress demanding the provision be removed from Pelosi’s HEROES Act.
 

Wally

BrownCafe Innovator & King of Puns
The Democrats take the union vote for granted, but it's a given so why not?

The union vote should endorse any candidate that is more on their side. Nope, leadership is more concerned with things like minoritie caucuses and protecting-wage suppressing illegals.
 

rickyb

Well-Known Member
Union Coalition Letter to Congress | Pension | Retirement


“Composite legislation is deeply flawed because it allows multiemployer plan trustees to ‘refinance’ their obligations to workers and retirees in the existing plan over 25 years instead of 15 years, so they can divert money to start a new composite plan,” the letter stated. “This weakens the existing plan and leaves neither plan — the existing plan nor the composite plan — with enough money to pay promised benefits.”

The letter was signed by the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union (BCTGM), the Directors Guild of America (DGA), the International Brotherhood of Boilermakers, the International Alliance of Theatrical Stage Employees (IATSE), the International Assoc. of Machinists & Aerospace Workers, the International Longshore and Warehouse Union (ILWU), the International Union of Painters and Allied Trades (IUPAT), the Musicians for Pension Security, the Pension Rights Center, the SEIU, the United Food and Commercial Workers International Union (UFCW), the United Steelworkers, and the Western Conference of Teamsters Pension Trust.

Labor leaders for the United Steelworkers (USW) and the International Brotherhood of Electrical Workers (IBEW) likewise urged their members to write letters to Congress demanding the provision be removed from Pelosi’s HEROES Act.
once again they bailed out wall street and average joes will pay for it including cuts to pensions amongst other things.
 

newfie

Well-Known Member
Nope, leadership is more concerned with things like minoritie caucuses and protecting-wage suppressing illegals.
thats the part that blows me away . why would the unions ever support the side that pushes to allow the vicitimization of cheap illegal labor.
 

Wally

BrownCafe Innovator & King of Puns
dude everything! theres laws governing pensions for starters. the private sector and public sector are connected.
Not my responsibility to bail out those that make very poor judgments.

These liberal states now want bailouts after decades of neglecting to fund their pensions. No way.
 

rickyb

Well-Known Member
Not my responsibility to bail out those that make very poor judgments.

These liberal states now want bailouts after decades of neglecting to fund their pensions. No way.
and yet corporations get bailed out trillions of dollars last 10 years, and what you got to say about that?

and why didnt the govt fund the pensions in the richest country on earth? corporations dont wanna pay pensions, its more money in their pocket. they scheme. niether does govt; govt dont care about average joes.
 

Wally

BrownCafe Innovator & King of Puns
thats the part that blows me away . why would the unions ever support the side that pushes to allow the vicitimization of cheap illegal labor.
In my state (total dem control) the teacher's union allowed the state to give iou's. The pension is in the crapper. They still vote for the Democrats every time.
 

oldngray

nowhere special
In my state (total dem control) the teacher's union allowed the state to give iou's. The pension is in the crapper. They still vote for the Democrats every time.
Teachers union is in the pocket of the Democratic party big time. Supporting (D)'s is more important than the teachers the supposedly represent.
 

rickyb

Well-Known Member
In my state (total dem control) the teacher's union allowed the state to give iou's. The pension is in the crapper. They still vote for the Democrats every time.
i dont think the unions or bernie makes any demands from the dem establishment.
 

Wally

BrownCafe Innovator & King of Puns
Teachers union is in the pocket of the Democratic party big time. Supporting (D)'s is more important than the teachers the supposedly represent.
The second the politicians started spending the pension money they should have slapped them down. But for decades they did nothing?
 
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