This fight needs to start now and it needs to start with the unions, the progressive elected and working class activists.
A provision nestled in the year-end federal government's spending deal guaranteed pension and health care benefits to more than 100,000 coal miners and their families.
Gare de Lyon protest comes on 19th day of industrial action over pension changes.
French workers cherish their welfare state. That’s why they’re striking. Macron’s proposed retirement reforms are latest attempt to erode the safety net. The people are fighting back. First anniversary of Yellow Vest uprising marks an historic moment
Mobilization and strike against pension reform are expected to be massive
The government-promoted plans let employers completely off the hook and put the entire burden of retirement savings and investment management on workers. They put another nail in the coffin of traditional plans in which employers share the expense.
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More than 120 multiemployer pension funds—plans that cover workers who regularly work for different employers, largely in trucking, mining, construction, and entertainment—are considered in danger of insolvency. They cover about 1.3 million workers.
Congress must decide whether to rescue these funds with low-cost loans, force them to cut benefit payments or let the funds go bankrupt and wipe out retirees’ entire pensions.
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.
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