As Teamsters Cut Pension Benefits, They are STILL Spending Millions on Liberal Politics

by Warner Todd Huston | May 21, 2015 11:31 am

Are you a Teamster who is now facing cuts in pensions and benefits? Well, guess what, Mac? Your union is still spending millions on liberal political causes.

The Teamsters is now alerting members that they should expect cuts in their benefits[1], but the unions also recently spent millions to “win the right to shrink their retirement pay.”

The somber notifications began going out from the Teamsters Central States Health and Welfare Pension Fund this spring, a decision that could ultimately affect 410,000 current pension participants and a total of more than 10 million U.S. workers nationwide. Cuts could begin as early as next year.

The cuts were made possible after the lame-duck Congress late last year passed the Multiemployer Pension Reform Act (MPRA), enabling any multiemployer pension fund to cut benefits to workers and current retirees if the plan is underfunded by at least 20 percent.

The somber notifications began going out from the Teamsters Central States Health and Welfare Pension Fund this spring, a decision that could ultimately affect 410,000 current pension participants and a total of more than 10 million U.S. workers nationwide. Cuts could begin as early as next year.

The cuts were made possible after the lame-duck Congress late last year passed the Multiemployer Pension Reform Act (MPRA), enabling any multiemployer pension fund to cut benefits to workers and current retirees if the plan is underfunded by at least 20 percent.

The union has already poured another $397,000 into Washington lobbying this year.

If you are in a union, why are you allowing your leadership to waste your money on politics even as you are losing jobs and benefits?

Endnotes:
  1. expect cuts in their benefits: http://www.washingtontimes.com/news/2015/may/20/teamsters-spend-big-on-politics-while-preparing-to/

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