Via LaborNotes,
By Jane Slaughter, LaborNotes
April 21, 2015
Teamsters are up in arms over looming pension cuts that could slash the incomes of both current and future retirees—anyone under 80.
They’re battling trustees of the enormous Central States Pension Fund, which has said that cuts of up to 30 percent may be necessary, as soon as possible, to keep from running out of money. Those trustees represent both management and their international union.
At the same time, worker and retiree activists are also battling corporations bent on eliminating pensions altogether. The latest political blow came in December when Congress passed a bill, in the middle of the night, to allow cuts to certain already-earned pensions.