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‘I Hope I Can Quit Working in a Few Years’: A Preview of the U.S. Without Pensions

Peter Whoriskey The Washington Post
The way major U.S. companies provide for retiring workers has been shifting for about three decades, with more dropping traditional pensions every year. The first full generation of workers to retire since this turn offers a sobering preview of a labor force more and more dependent on their own savings for retirement.

labor

Donald Trump Collected a Massive $168,000 Union Pension. Will He Fight for Yours?

Andrew Joyce Policy.Mic
As recently as 2015, Donald Trump was still collecting a $168,000 pension — and maybe more — from the Screen Actors Guild for playing himself in The Apprentice. Now that Trump is about to be president, the most important question is: What is Trump's plan to save the system that is designed to protect millions of union pensions like his own?

The Scandal of Vast Inequality in Retirement Pay

Lawrence Wittner History News Network
And there’s also CEO David Cote of Honeywell―a company that has locked out its workers from its factories in Green Island, NY and South Bend Indiana for seven months for rejecting a contract that eliminated workers’ pensions―who receives a monthly retirement check from the company for $908,712.

Retirement Pay Scandal, Trump Vow to Kill Medicare

Lawrence S. Wittner; Tierney Sneed LA Progressive
100 corporate CEOs possess company retirement funds totaling $4.7 billion - an amount equivalent to the entire retirement savings of 41 percent of U.S. families. Things were not always like this. From 1946 to 1980, a combination of union action and government policy led to the expansion of pension benefits for American workers. Now, Donald Trump's pick to direct the Office of Management and Budget says: We have to end Medicare as we know it.

labor

Trump Has a Plan for Government Workers. They’re not Going to Like It.

Lisa Rein The Washington Post
Hiring freezes, an end to automatic raises, a green light to fire poor performers, a ban on union business on the government’s dime and less generous pensions — these are the contours of the blueprint emerging under Republican control of Washington in January. these are the contours of the blueprint emerging under Republican control of Washington in January.

labor

Union Rejects SEPTA's First Post-Strike Offer

Jason Laughlin philly.com
The major issues are health coverage, pensions and work rules. Pensions rankle TWU members because theirs don't increase if a worker makes more than $50,000 a year, meaning a union member will receive no more than $30,000 a year in pension payments after retirement even if they earned more than $50,000 when they retired. By contrast, managers with Southeastern Pennsylvania Transportation Authority] have no pension caps.

Revealed: AARP Is Funding ALEC

Nick Surgey and Calvin Sloan The Center for Media and Democracy
AARP, the non-profit seniors organization that exists to promote the financial security, pensions and healthcare of those over 50, is secretly funding the American Legislative Exchange Council (ALEC), an organization whose bills have acted against the interests of ordinary Americans, including retirees and their families. What can you do? -- sign the petition below.

Tidbits - May 12, 2016 - Reader Comments: Contested Convention Needed; #BernieorBust" Dead End; Left and 2016; Baldwin; Shakespeare; Israel and BDS; Panama Papers Database....

Portside
Reader Comments: Contested Convention is Needed; and "#BernieorBust" Dead End; The Left in 2016; Stopping Israel's Occupation and BDS; Israel as the Last Remaining, Active Settler-Colonialist Project; Who's Afraid of Communism - Paul Buhle comments; Teamster and Other Multi-Employer Pension Plans; Teacher Challenges Low Evaluation in Court and Wins; Baldwin; Shakespeare; James Connolly - appreciated today; Just Released - Panama Papers Database...

Teamsters Activists Move To Prevent Slashing of Hundreds of Thousands of Retirees’ Pensions

Bruce Vail Working In These Times
“Teamster pensions are in trouble because of greed, incompetence and corruption,” Rita Lewis told In These Times. Excessive pay to plan administrators and outlandish fees to financial advisors have drained the fund, she says, echoing Warren’s emphasis on Wall Street malfeasance, and a first step should be to clean house at the offices of Central States Pension Fund, the organization that collects and distributes pension monies for some 400,000 union members and retirees.
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