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Lawmakers consider multibillion-dollar bailout for troubled pensions, retirees

Freightmaster1

Well-Known Member
https://www.washingtonpost.com/busi...d23f2aaad09_story.html?utm_term=.b9f0e16c6eb9


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Sen. Orrin Hatch (R-Utah) is chair of a select congressional panel aimed at addressing the pension crisis. (Ravell Call/AP)
 

jimmy g

Kook
Premium
The article claims Bailouts, major cuts, and fee hikes. That all appears to mean bailing out PBGC, and not the Funds themselves.
 

jimmy g

Kook
Premium
The study Committee Report is due Nov 30. This is Nov 27.


IF they Bailout the PBGC, can we expect doing away with the Reemployment Rules (finally?) I have my second Appeal going before the Trustees, and the next step would have to be a Discrimination Suit.... SCOTUS decided in Janus vs ASFME and Harris vs Quinn that Unions can’t control non-members (retirees are no longer dues paying members. By resigning retired, they no longer work under a contract), and EEOC Regulations State (Section 623 I think, off the top of my head) that Labor Organizations cannot bar or influence anyone’s employment opportunities. CSPF is a wage deferral investment account to pay wages at a certain age. Nothing in deferred wages should be hooked to re-employment. Especially when the Fund has stated they will break the promise to pay.
 

jimmy g

Kook
Premium
https://www.heritage.org/budget-and-spending/report/joint-select-committee-multiemployers-pension-draft-proposal-would-do

KEY TAKEAWAYS
The Joint Select Committee on Solvency of Multiemployer Pension Plan’s draft proposal partially meets two important goals, but fails on three others.

Most troubling are the failure to prevent the same problems in the future, its incentives for plans to become underfunded, and its unjust burden on taxpayers.

Policymakers should instead turn to commonsense and equitable reforms that would accomplish all five goals.
 
https://www.heritage.org/budget-and-spending/report/joint-select-committee-multiemployers-pension-draft-proposal-would-do

KEY TAKEAWAYS
The Joint Select Committee on Solvency of Multiemployer Pension Plan’s draft proposal partially meets two important goals, but fails on three others.

Most troubling are the failure to prevent the same problems in the future, its incentives for plans to become underfunded, and its unjust burden on taxpayers.

Policymakers should instead turn to commonsense and equitable reforms that would accomplish all five goals.


I read yesterday that it was pretty much dead since the repubs couldn't agree with Sherrod Brown. I got that off burypensions and pensiontsunami. A lot of good material there. Now, I always vote repub but I am pretty disappointed in the elected repubs lately since they are not supporting this. It appeared to be only dems who were pushing it so maybe with the House leadership changing dem it might be a good thing for us.

eta: I have seen reports that PBGC would go completely broke if we, CSPF, go in under that. Not sure if it is true but were that to happen, it may be more impetus to make this draft proposal go into effect.
 
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