From Teamsters for a Democratic Union:
The Hoffa administration has signed on to a joint employer-union proposal to allow "deeply troubled" pension funds to slash accrued benefits, even for Teamsters who have already retired.Technorati tags: Politics Chicago labor unions unions organized labor left wing extremists teamsters current events
This proposal, which could be aimed squarely at the Teamster Central States Fund, comes from the National Coordinating Committee for Multiemployer Plans, a committee of employers, unions and pension plans.
UPS is a prominent member of the group, which also includes several pension funds, employer groups, and some unions.
The group's proposal is to change federal law to allow "deeply troubled" plans, those in danger of going insolvent in the next 20 years, to drastically slash benefits.
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