{"id":519613,"date":"2010-04-07T14:54:24","date_gmt":"2010-04-07T18:54:24","guid":{"rendered":"http:\/\/www.campaignforliberty.com\/blog.php?view=34384"},"modified":"2010-04-07T14:54:24","modified_gmt":"2010-04-07T18:54:24","slug":"unions-look-to-federal-government-for-help-on-pensions","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/519613","title":{"rendered":"Unions look to federal government for help on pensions"},"content":{"rendered":"

By Matt Holdridge<\/p>\n

It looks like labor unions are the next in line for a bailout. <\/p>\n

From the DailyCaller<\/a><\/em>:<\/p>\n

\n

Legislation introduced last week could shift costs of union pension plans to taxpayers in an attempt to stave off organized labor’s pension funding crisis.<\/p>\n

Senator Bob Casey, Pennsylvania Democrat, introduced the Create Jobs & Save Benefits Act of 2010<\/a> to address the funding problems faced by union-administered multi-employer pension plans.<\/p>\n

Multi-employer pension plans have to cover the benefits of members, even if their companies are defunct. Currently the costs are shared among the companies that remain in the pool, but Casey’s bill proposes offloading them to the Pension Benefit Guarantee Corporation (PBGC)<\/a>, a federal corporation, which backs the pensions of 44 million workers, more than 75 percent of which are nonunion.<\/p>\n

…Union pension plans suffer from the same aging demographic problem as social security suffers.<\/p>\n

Before the economic downtown, when the latest pension data were available, only 17 percent of labor pensions were fully funded, compared to 35 percent in the non-union sector. More interestingly, pension funds of union staff and officers are well-funded — in the 90-plus percent range — while the funds of labor’s rank and file suffer.<\/p>\n<\/blockquote>\n

It appears the federal gravy train has no stops, especially if you’re a politically well-connected group like organized labor. <\/p><\/p>\n","protected":false},"excerpt":{"rendered":"

By Matt Holdridge It looks like labor unions are the next in line for a bailout.  From the DailyCaller: Legislation introduced last week could shift costs of union pension plans to taxpayers in an attempt to stave off organized labor’s pension funding crisis. Senator Bob Casey, Pennsylvania Democrat, introduced the Create Jobs & Save Benefits Act […]<\/p>\n","protected":false},"author":3999,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-519613","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/519613","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/3999"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=519613"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/519613\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=519613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=519613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=519613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}