Federal lawmakers are trying to come up with a way to protect the pensions of more than one million union workers. Several options have been offered, none have been accepted. The latest offer comes from union crony Ohio Senator Sherrod Brown and Massachusetts Representative Richard Neal. Their bills came the same day the Pension Benefit…

The Teamsters pension plan (Central States Pension Plan), widely criticized as being extremely underfunded and unable to pay a fraction of its obligations to retirees, is set to be cut in the coming weeks. The Central States Pension Plan last year became the first financially troubled pension fund to seek relief with the federal government…

In 2007, the UAW created a trust fund that provides healthcare benefits for retired UAW members of the “Big Three” automakers. The fund is intended to help control healthcare costs for former workers and their families. This trust was supposed to be the answer to rising healthcare costs for retirees and the shrinking pool of…

The Multiemployer Pension Reform Act of 2014 (MPRA) was signed by President Obama on December 15th as part of a last-minute deal approved by lawmakers as they were leaving town for Christmas break. The MPRA allows funds to cut benefits for workers and current retirees if the plan is 20% or more underfunded. In other…

Scranton, Pennsylvania, home of Vice President Joe Biden, is bracing for bankruptcy because of overly generous union pension plans. According to Stephen Moore of Investor’s Business Daily Online: The city also increased various fees, such as for garbage collection, by two-thirds. It’s becoming a tax hell. These taxpayer costs are skyrocketing, because the city’s auditors…

For the first time, Congress approved a bill that allows the retiree benefits of distressed union multi-employer pension plans to be cut. A multi-employer pension plan is where a group of employees in the same industry join unions to provide pension coverage to retirees. Of the 1,400 multi-employer plans in the U.S., hundreds either have…