Retirees Fear Dramatic Pension Cuts Under New Law

Discussion in 'New Penn' started by Kennesaw Kid, Feb 16, 2015.

  1. Kennesaw Kid

    Kennesaw Kid Super Moderator Staff Member

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    Bill Hendershot and his wife live on his union pension and Social Security. Hendershot, a retired Consolidated Freightways long-distance truck driver, gets around now in a 12-year-old Toyota Corolla. The couple still pay a mortgage on their home in Canal Fulton.

    And he’s among a huge group of union retirees nationwide who could see their monthly private pension payments cut as much as 60 percent under a national reform measure signed into law in December by President Barack Obama.

    “I could lose two-thirds of my pension,” Hendershot said. “You ask, how could I live? You talk about drastic reductions. … We don’t live big now.” read more


    http://www.ohio.com/business/union-...c-pension-cuts-under-new-federal-law-1.567186
     
    Last edited by a moderator: Feb 16, 2015
  2. fxstc07

    fxstc07 Well-Known Member

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    Just more on the planned decline of the middle class. Each and every politician has contributed to this disaster and the deep pockets of the wealthy backers fuel the fire even more.
    Until we overturn "Citizen's United", the wealthy will continue to buy Washington and influence the laws that affect every working man and woman in this country.
     

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