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Yellow | Another blow for heartland workers: Slashed pensions

Work till ya die.
No such thing as golden years for the blue collar anymore.
Only if you save for it yourself from day one of any employment.
Cover your own ass in other words.
If you have young kids. Or any kids. Best advice is to give them that.
Let them do what they will with it.
I have two kids in their thirties and both are in positions financially now where their future is secure.
We depended on others. It didn't work out.
Times are changing. Unfortunately during our golden years!
 
February was a bad month for Larry Burruel and thousands of other retired Ohio iron workers. His monthly take-home pension was cut by more than half from $3,700 to $1,600.

Burruel and the 400,000 members of his Central States Pension Fund are the canaries in the coal mine as far as pension cutbacks go

I cut and pasted this from the article and I have to tell you I'm a little confused. When did the Treasury Department approve and implement cuts to any members of CSPF?
 
Bart said:
February was a bad month for Larry Burruel and thousands of other retired Ohio iron workers. His monthly take-home pension was cut by more than half from $3,700 to $1,600.

Burruel and the 400,000 members of his Central States Pension Fund are the canaries in the coal mine as far as pension cutbacks go

I cut and pasted this from the article and I have to tell you I'm a little confused. When did the Treasury Department approve and implement cuts to any members of CSPF?
Click to expand...
Bart, the reporter was wrong. Burruel is an Iron Workers Local 17 Pension Fund participant in Cleveland, Ohio along with the Overstreet's who are also in the Iron Workers Local 17 Pension Fund in Cleveland.
 
This is the shocking part to me.

It was run through Congress in the dead of night, and President Obama -- who was supposed to be for the working class -- signed it," complained Burruel. The MPFRA is overseen by attorney Kenneth Feinberg, known for dividing up huge settlements in cases such as the 9/11 terrorist attack and the BP (BP) oil spill in the Gulf.
 
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