Save Our Pensions Rally July 12 in Columbus, Ohio

[ABFwife]

Car caravans and busloads of active and retired Teamsters, Mineworkers and a range of allies will converge on Columbus, Ohio for a rally Thursday, July 12. Thousands are being mobilized by the pension action committees of the National United Committee to Protect Pensions.

These committees, anchored by Teamster retirees, are calling on the Congressional Joint Select Committee on Pensions to find a legislative solution to the pension crisis based on the Butch Lewis Act that was introduced at the end of the 2017 term.

The rally commences at 11 am at the Ohio State Capitol.

Senator Sherrod Brown and other Democratic and Republican members of the Joint Select Committee will hold a hearing on Friday, July 13 in Columbus. Representatives of the NUCPP will be present at the hearing.

Save Our Pensions Rally July 12 in Columbus, Ohio - Teamsters for a Democratic Union

[fxstc07]

Yes, I understand the above post is about saving the failing pensions across the country, mostly private sector pensions.
But it is the CSPF that was decimated by the Wall Street thieves that plundered it's assets under the direction of the US Government.
So this article highlights public sector pensions. It affects us all, but Wall Street seems immune.
By Exploiting and Mismanaging Public Pensions, Wall Street Has Cost Taxpayers $600 Billion Over Last Decade
"Most people (including policymakers) still have no idea that skimming fees off public employees' retirement savings has become one of the largest sources of profits for Wall Street moguls."

In a frenzied bid for higher profits in the decade following the 2008 financial crisis, Wall Street pension fund managers have siphoned as much as $624 billion from Americans' retirement savings—and, as a direct result, taxpayer coffers—through a vicious combination of high fees and foolish investment strategies, according to an analysis published Thursday by Yahoo Finance.
"Because pensions are guaranteed, the underperformance has hit taxpayers in the form of budget cuts for schools, hospitals, and libraries and decreased spending on infrastructure, healthcare, and other public projects."
The steepest costs to taxpayers have stemmed from Wall Street pension managers' commitment to so-called alternative funds, which invest in private equity and hedge funds rather than traditional stocks and bonds.
"The total amount pension funds could have saved by simply investing in index funds could be more than $1 trillion," notes Yahoo Finance reporter Dion Rabouin. "Because pensions are guaranteed, the underperformance has hit taxpayers in the form of budget cuts for schools, hospitals, and libraries and decreased spending on infrastructure, healthcare, and other public projects."

https://www.commondreams.org/news/20...-taxpayers-600

[strapdrager]

We will never get a dime
central States just let Kroger out too
the rest of us will starve

Obama was knee deep shoveling cash out of the treasury and not one dime for the people

[fedexnuno]

We will never get a dime
central States just let Kroger out too
the rest of us will starve

Obama was knee deep shoveling cash out of the treasury and not one dime for the people

You believe Obama has something to do with this?

[strapdrager]

You believe Obama has something to do with this?

I know that while he was spending massive amounts of cash we didn’t see a dime

[222lifer]

I know that while he was spending massive amounts of cash we didn’t see a dime

Left to capitalism to right itself. What a conservative would do.

Sent from my SM-J327T using Tapatalk

[fxstc07]

We will never get a dime
central States just let Kroger out too
the rest of us will starve

Obama was knee deep shoveling cash out of the treasury and not one dime for the people

So far, Trump has shoveled 1.5 TRILLION to corporate America.
Has he handed out one dime to help your pension or the rest of the citizens ?
Not while we pay taxes to cover that 1.5 TRILLION he hasn't.

[2631]

I know that while he was spending massive amounts of cash we didn’t see a dime

Am I reading this right? A staunch right wing defender of Trump is unhappy that the government didn't "bail out" his private pension fund. I don't recall him complaining when the republican leadership refused to move the Butch Lewis Act out of committee. I think the senate bill had 22 cosponsors all democrats. The house bill had 167 cosponsors and only 8 republicans had the courage to step up and cosponsor the bill.

[222lifer]

Am I reading this right? A staunch right wing defender of Trump is unhappy that the government didn't "bail out" his private pension fund. I don't recall him complaining when the republican leadership refused to move the Butch Lewis Act out of committee. I think the senate bill had 22 cosponsors all democrats. The house bill had 167 cosponsors and only 8 republicans had the courage to step up and cosponsor the bill.

My point exactly...

Left to capitalism to right itself. What a conservative would do.

Sent from my SM-J327T using Tapatalk

[crazy]

Am I reading this right? A staunch right wing defender of Trump is unhappy that the government didn't "bail out" his private pension fund. I don't recall him complaining when the republican leadership refused to move the Butch Lewis Act out of committee. I think the senate bill had 22 cosponsors all democrats. The house bill had 167 cosponsors and only 8 republicans had the courage to step up and cosponsor the bill.

I do think the government has the responsibility of protecting the Multi Employer pensions.. Not sure about other crafts but how many Teamster Funds were under the government watchdog?? They failed while under government supervision..