Do ya think!!!!

Pensions supply a secure retirement for millions of Americans across the country. But increasingly, some plans have faced financial challenges that threaten the nest eggs of many who toiled for decades with the understanding they would be taken care of in their golden years.

About 200 multi-employer pensions across the country, including the Teamsters’ Central States Pension Fund that oversees the retirements of tens of thousands of Michigan Teamsters in every congressional district, stand on the brink of failure. The Teamsters have been working diligently for years with key members of Congress trying to come up with a solution to this pension crisis. And with the release of new legislation last month, the union believes it has found it.

The bill would boost financially troubled multi-employer pensions so they don’t fail. It would create a new agency under the U.S. Treasury Department that would sell bonds in the open market to large investors such as financial firms. The dollars raised, in turn, would go to these retirement plans to stave off cuts or complete failure.

Leaders in Congress are endorsing the plan because it protects workers. “Democrats are offering hardworking Americans across the country a better deal to protect their pensions, because the families of ironworkers, truck drivers, steelworkers and many more deserve a secure and bright future,” Senate Democratic Leader Chuck Schumer (D-N.Y.) said.

Sen. Sherrod Brown (D-Ohio), a lead sponsor of the measure, called the introduction of the “Butch Lewis Act of 2017,” named after the former Teamsters Local 100 President who died in late 2015 while fighting to prevent cuts to Central States Pension Fund, one of the proudest days of his life. He said workers deserve to receive the pensions they worked so hard for to get.
https://teamster.org/news/2017/12/ho...otect-pensions