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Troubled Labor Unions Look to Federal Government for Help on Pensions
The Daily Caller Apr. 8, 2010 Excerpt: Senator Bob Casey, Pennsylvania Democrat, introduced the Create Jobs & Save Benefits Act of 2010 to address the funding problems faced by union-administered multi-employer pension plans. 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 [sic] Corporation (PBGC), a federal corporation, which backs the pensions of 44 million workers, more than 75 percent of which are nonunion. |
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