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Monday, April 15, 2013

Pension-law proposal would hit some retirees\


http://www.marketwatch.com/story/pension-law-proposal-would-hit-some-retirees-2013-04-15?siteid=yhoof2

A coalition of unions and employers is proposing changes to the federal law that governs the pension plans of about 10 million people, including reducing benefits paid to retirees, the first time in four decades that such cuts would be allowed.

The proposal, which would undo guarantees put in place by federal law in 1974, is already stirring controversy among pension-rights advocates and rank-and-file union members. It was developed by some of the nation’s biggest unions, including the Teamsters and United Food and Commercial Workers, and industry trade groups such as the Associated General Contractors of America.

Pension experts say a report issued by the group earlier this year will likely serve as the foundation of a bill to replace rules governing pensions that expire in 2014. Sen. Tom Harkin (D., Iowa), chairman of the Senate committee overseeing pension policy, called the proposals, which include cutting retiree benefits, “a starting place.” ...




More proof that union members are being betrayed by their leadership. It is high time that people take the power away from these corrupted leaders in all aspects of life. There was a time when Union leaders actually worked for their members - that time has long passed - as is evidenced by the recent communist attack on labor rights in Wisconsin - the union leaders did nothing - they just allowed it to happen. Remember Lenin accurately said "The best way to control the opposition is to lead it".

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