30 Dec 2022 1:04 pm
Biden said "through no fault of their own" the members were shafted by incompetent, corrupt union bosses......actually he said the part in parentheses, I added the rest.Selaphobia » 09 Dec 2022, 3:27 pm » wrote: ↑ President Joe Biden announced Thursday he will pump $36 billion into a union pension plan to prevent drastic benefit cuts for pensioners, just a week after he signed a railroad labor deal opposed by several union organizations.
The announcement marks the largest federal award for retiree pensions in history and is funded by Biden’s $1.9 trillion American Rescue Plan, according to the White House. The $36 billion will go to the Central States Pension Fund, which is for mostly Teamster union members.
The $36 billion amounts to about half of the available federal funds for pension relief under the American Rescue Plan. The pension fund, which covers 350,000 members, was at risk of cuts as high as 60%, but the White House said the fund will now be stable until at least 2051.
NOTE: Central States Pension Fund, Established in 1955 to provide pension benefits to Teamsters, the plan has paid approximately $80 billion in benefits to date.
36B to kick the can 29 years down the road?
https://www.yahoo.com/news/biden-announ ... 18641.html
@GHETTO BLASTER TELL US WHY TAXPAYERS SHOULD BAILOUT A UNION.
