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Thread: Hoffa: Congress Must Step Up to Protect Pensions

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    Default Hoffa: Congress Must Step Up to Protect Pensions



    America’s retirement system has been undermined by Wall Street’s collapse seven years ago and poor government policy decisions in recent years. Rather than come up with creative plans to save the hard earned benefits of America's retirees, Congress instead passed a law last year that allows their pension benefits to be cut by as much as 30 percent. This would be devastating for those least able to take such a hit to their living standards. But there is a solution that doesn’t require retiree benefit cuts.

    Sen. Bernie Sanders, I-Vermont, and Rep. Marcy Kaptur, D-Ohio, introduced legislation last month that would roll back provisions slipped into the fiscal 2015 spending bill approved on Capitol Hill last year that made earned pensions vulnerable to cuts. The measure would restore anti-cutback rules so that recipients in financially troubled multi-employer pension plans will be protected from having their benefits cut.

    In addition, the legislation strengthens existing plans by allowing the partitioning off of plan participants and retirees whose employers have left pensions plans due to bankruptcy or closure. This will provide relief to participating employers from having to cover the benefits of these “orphan” participants and retirees.
    Hoffa: Congress Must Step Up to Protect Pensions | Teamsters

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    Default Re: Hoffa: Congress Must Step Up to Protect Pensions

    Sure now after he helped pass the legislation that rewrote the pensions now he is calling to protect them.. What a shyster.. IMO he is grandstanding looking for votes..
    2631, Yankee and ABFwife like this.

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    Default Re: Hoffa: Congress Must Step Up to Protect Pensions

    Quote Originally Posted by crazy View Post
    Sure now after he helped pass the legislation that rewrote the pensions now he is calling to protect them.. What a shyster.. IMO he is grandstanding looking for votes..
    Believe me, I agree and I am just taking the opportunity to give a thumbs up to Bernie again
    2631 likes this.

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    Default Re: Hoffa: Congress Must Step Up to Protect Pensions

    Rather than come up with creative plans to save the hard earned benefits of America's retirees, Congress instead passed a law last year that allows their pension benefits to be cut by as much as 30 percent.
    Correct me if I'm wrong and I hope I am. Doesn't the MPRA of 2014 allow pensions to be cut up to 62% and not only the 30% stated by brother Hoffa?

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    Default Re: Hoffa: Congress Must Step Up to Protect Pensions

    More BS from hoffa, the greatest labor leader in his own mind
    Yankee likes this.

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    Default Re: Hoffa: Congress Must Step Up to Protect Pensions

    I don't know if this has been posted yet. It appears to come from a Q&A issued by the CSPF Rescue Plan. I am unable to provide the link. But if this is accurate then I must have missed all the effort the IBT & CSPF have put into endorsing the Keep Our Pension Promises Act.

    Senator Bernie Sanders has introduced legislation, the Keep Our Pension Promises Act,
    which would amend MPRA and protect participants of multiemployer plans from benefit
    reductions. The International Brotherhood of Teamsters endorsed the Act. What is the
    Fund’s stance on the Act?


    Senator Sanders’ bill is well intentioned, and Central States Pension Fund would welcome
    funding assistance from the federal government; but it is difficult to understand where the votes
    would come from in Congress to ever enact it into law. For years, Central States actively
    supported similar bipartisan legislation introduced by Senator Casey and Representative
    Pomeroy, but very few Members of Congress or the Administration were equally supportive—
    and the legislation failed. Congress today is even more fiscally conservative than it was when
    the Casey-Pomeroy bill failed. Time is running out for a solution, and it is vitally important to
    deal realistically with the dire situation confronting us. We have an opportunity and obligation to
    do so through the development of a pension rescue plan under the Multiemployer Pension
    Reform Act of 2014 (MPRA).
    IMO this just reaffirms our argument that the pension underfunding mess is the fault of the federal government. Republican or Democrat, it doesn't matter. They all serve the same master and that's corporate America who doesn't want defined benefits worker pension funds.

    IMO the, so called pension rescue plan, MPRA of 2014 that was bum rushed into law intends to bail out the PBGC with retiree's pensions instead of Federal money. Congress created this mess and now with the continued lobbying of the NCCMP and it's PAC money Congress is taking the easy way out.
    crazy, ABFwife and 222lifer like this.

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    Default Re: Hoffa: Congress Must Step Up to Protect Pensions

    What kind of crap is this? We are suppose to trust someone to properly record our telephone votes to cut our pensions. This is outrageous. Anyone what to bet on the outcome of the phone, or should I say phony, tally?

    The Treasury Department’s Temporary Regulations would let the Central States Pension Fund (and others) conduct the vote of Teamsters and retirees on proposed pension cuts by telephone poll!
    http://www.tdu.org/pension_by_phone_call
    ABFwife likes this.

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    Default Re: Hoffa: Congress Must Step Up to Protect Pensions

    Quote Originally Posted by 2631 View Post
    What kind of crap is this? We are suppose to trust someone to properly record our telephone votes to cut our pensions. This is outrageous. Anyone what to bet on the outcome of the phone, or should I say phony, tally?


    http://www.tdu.org/pension_by_phone_call
    Outrageous!

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    Default Re: Hoffa: Congress Must Step Up to Protect Pensions

    For those who may be interested this is the link to keep updated on how Sander's Keep Our Pension Promises Act is progressing in the Senate. So far it has just been referred to the Finance Committee

    https://www.congress.gov/bill/114th-...nate-bill/1631

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    Default Re: Hoffa: Congress Must Step Up to Protect Pensions

    Quote Originally Posted by 2631 View Post
    What kind of crap is this? We are suppose to trust someone to properly record our telephone votes to cut our pensions. This is outrageous. Anyone what to bet on the outcome of the phone, or should I say phony, tally?
    this is bulls%&t, that a**hole hoffa should be, i am going to stop my post now before i get in trouble.saying things i shouldn't.

    http://www.tdu.org/pension_by_phone_call

 

 
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