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Sat Dec 6, 2014, 11:06 PM

The lame-duck Congress plots to undermine retiree pensions


X post in Labor & Socialist-Progressive

http://www.latimes.com/business/hiltzik/la-fi-mh-worker-pensions-20141205-column.html


http://www.trbimg.com/img-54824545/turbine/la-fi-mh-worker-pensions-20141205-001/750/750x422

But what's the rush? Rep. George Miller, D-Martinez, who is pressing to conclude a deal on multiemployer pension plan problems before he leaves office this month. (Harry Hamburg / AP)

12-5-14

ssing legislation on a tight deadline--especially a bogus deadline--is invariably a formula for serious mischief. That's what's happening with a proposal to deal with a supposed crisis in worker pensions by allowing trustees to slash the pensions of already-retired workers to shreds.

Members of the House Education and the Workforce Committee are trying to slip the measure into an omnibus spending bill to be passed before Dec. 11, when Congress leaves Washington for its vacation recess. Pension advocates are up in arms, not least because the measure's actual language hasn't been made public. (It's still in negotiation, committee staffers say.) What is known is that it would change four decades of labor law in a way that mostly affects the oldest and most vulnerable workers.

"There's no bill, no legislative language," David Certner, legislative counsel to AARP, told me Friday. "To attach this big a change to a year-end spending bill is outrageous."

What's at issue is the condition of so-called multiemployer pension plans. These are defined benefit pensions in industries comprising lots of relatively small employers. The plans often are sponsored by unions, who share trustee duties with employer representatives.

FULL story at link.

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Reply The lame-duck Congress plots to undermine retiree pensions (Original post)
Omaha Steve Dec 2014 OP
elleng Dec 2014 #1
Wellstone ruled Dec 2014 #2
NaturalHigh Dec 2014 #3

Response to Omaha Steve (Original post)

Sat Dec 6, 2014, 11:29 PM

1. So the trustees,

including union representatives, haven't been doing their duties. Swell.

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Response to Omaha Steve (Original post)

Sat Dec 6, 2014, 11:33 PM

2. So now these a--holes want to wipe out our

 

hard earned and negotiated Teamsters Pension funds. Were are you UPS Drivers and Helpers? This hits you folks big time. Talk about a stab in the back for all of the work we have done to get you Dems elected. This is getting damn close to the one that breaks the Camel's back. Not pissing forty plus years down the crapper on this. Were do we sign up? Nixon messed us up but we came back. This is going to be nasty.

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Response to Omaha Steve (Original post)

Sun Dec 7, 2014, 12:54 AM

3. Kick

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