Capital and Main
A new front in the battle over retirement security for California’s public employees opened June 4 with the release of the language for a proposed ballot initiative that would virtually outlaw traditional defined-benefit pension plans for future state and municipal workers. The so-called “Voter Empowerment Act of 2016,” would effectively shift all new public employees from the various defined-benefit plans currently in place to 401(k) plans, beginning in 2019.
The Bullet - Socialist Project
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Working In These Times
The loss of pensions at Boeing marks a major setback for unions, as employers typically follow the example of other employers at the bargaining table in terms of what constitutes a reasonable demand. Since the financial crash, unions have given up pensions for new hires at large, profitable, industry trendsetters such as General Electric, Verizon, Honeywell and now, Boeing.