May 21, 2014: The Director of the Pension Benefit Guaranty Corporation (PBGC) is calling for reforms that would help secure union members pensions. TDU backs this proposal and Teamsters should, too.

The Director of the Pension Benefit Guaranty Corporation (PBGC) is calling for a major increase in insurance premiums paid by employers to provide more security to pension funds that cover Teamsters and other union members.

Teamsters for a Democratic Union (TDU) supports this proposal and urges its adoption.

The PBGC exists to provide earned pensions for workers whose pension funds become insolvent, but it is badly underfunded, and unlike the FDIC which guarantees personal bank accounts, it is not backed by the US treasury.

A big increase in premiums would be a healthy first step in a package of changes to protect the pensions of millions of workers, including Teamsters.
TDU says: Increase Support for Pension Guarantees! | Teamsters for a Democratic Union