UPS, Yellow Roadway, Kroger and other big Teamster employers are lobbying Congress...

Discussion in 'Holland' started by Benny Hill, May 3, 2006.

  1. Benny Hill

    Benny Hill I'm Back (kinda)

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    UPS, Yellow Roadway, Kroger and other big Teamster employers are lobbying Congress to include a provision in pension reform legislation that would, under certain conditions, let pension funds cut benefits that workers have already earned.


    I don't know how true any of this is but knowledge is power. Read it all and make your own choice.

    http://leedham2006.org/node/200
     
  2. Cornbinder

    Cornbinder Active Member

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    Here we go again,big corporate bigwig's and there lobbyist's screwin the workin man-woman again,and I'll bet ya that the union will try and fight and loose again.
     
  3. stldude44

    stldude44 Active Member

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    Good point considering the source. It's election time again and the poop will fly.
     
  4. murphyslaw

    murphyslaw Member

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    Very well put!
     
  5. nightshadow

    nightshadow Member

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    For giggles, I looked on The Senate website, and at Kroger's 10K. They are monkeying around in the Senate, although I am not convinced it would affect us yet. There is some language about the payout of benefits in excess of $5,000 per month if a plan is in trouble. All they have to do later is change the amount down. Kroger's 10K and their history make it very easy to believe that they are lobbying Congress for this. They spent alot of time talking about liability for underfunding in Multiple Employer Pensions. They currently project that their contributions will have to increase by 5% per year (recent annual figure $196 million) but acknowledge that it could be more. If you are having trouble sleeping, you can go to the SEC website and search for Kroger to see thier filings

    http://www.sec.gov

    (the link to the reports did not work)
     

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