" 'These cuts are particularly unfair and cruel to 336 of the Fund's retirees who labored for decades constructing Cleveland's skyscrapers,' said Karen Ferguson, director of the Pension Rights Center. 'It is these retirees who will be affected the most -- and will see their pensions cut by 30 to 60 percent.' The plan's participants voted by a 2-to-1 margin in favor of the cuts. This is not surprising since four-fifths of the plan's participants stand to lose little or nothing as a result of the cuts. More than half of the Fund's 1,938 participants did not vote."  MORE >>