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America's Largest Musicians' Union Announces Pension Cuts
National Public Radio [NPR] May 31, 2019
"Trustees of the American Federation of Musicians and Employers' Pension Fund (AFM-EPF) announced the evening of May 24 that they will apply to the U.S. Treasury for a reduction in member benefits, due to the AFM-EPF's 'critical and declining' status -- meaning the fund is projected to run out of money in 20 years.... Approximately 50,000 AFM members participate in the pension fund, and it's estimated that 20,000 of them will eventually see a reduction in their pension benefits."
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