Ken Previti: National Attempt at Pension Theft by December 11th?
According to In These Times.Com, “Reps. John Kline (R-Minnesota) and George Miller (D-California), the
highest-ranking members on the House Education and Workforce Committee, have
brokered a last-minute deal to reform multi-employer pensions, In These
Times has learned. They’re now urging party leaders to include the plan as
part of an omnibus spending bill, just before the 113th Congress is set to
leave Washington for good on December 11” (http://inthesetimes.com/working/entry/17413/lame_duck_congress_nears_last_minute_vote_on_sweeping_pension_reform).
Friend and blogging
colleague Ken Previti has likewise alerted us to this latest attempt by the
current lame-duck Congress on private sector pension theft for multi-employer
plans.
“Reps. John
Kline (R-Minnesota) and George Miller (D-California), the highest-ranking
members on the House Education and Workforce Committee, have brokered a
last-minute deal to reform multi-employer pensions, In These Times has
learned. They’re now urging party leaders to include the plan as part of an
omnibus spending bill, just before the 113th Congress is set to leave
Washington for good on December 11.
“The full extent of
the Kline-Miller proposal remains unclear. In addition to providing trustees
with new benefit-gutting powers, it may include other less high-profile
elements from the “Solutions Not Bailouts” report, a proposal
authored last year by the National Coordinating Committee for Multiemployer
Plans (NCCMP), a labor-management coalition.”
Not surprisingly, the
designated goals of the NCCMP’s menu sound eerily similar to many of the
phrases and clichés offered by those legislators in Illinois proposing SB1. Example: “Any
recommendations for change to the existing system must still provide regular
and reliable lifetime retirement income to participants.”
Regular? Reliable?
Would that be either without a promised COLA?
In
addition, the longstanding corporate argument of saving the entire system by
cutting back on promises appears early on in the presentations. Also, of course, what’s last on itemized goals
and is usually first in unspoken strategies appears: to spur economic growth.
The report by In
These Times identifies the soon-to-be retiring Democratic member of
Congress (Miller) as the enticement for
other uneasy liberals in the Democratic Party to join Republicans in this
(suddenly) promising initiative. Unions supporting the measure include massive
Building Trades organizations, which feel compelled to compromise now rather
than face harsher action in the next few years.
That sounds familiar.
Understandably, many retired union members
feel double-crossed.
As Ken would
alert all of us:
“Yes,
teachers are the primary target, the scapegoats, for all of the damage done by
the political theft and corruption that is strangling people who work for a
living. But the target area has widened and continues to widen.
The federal
government’s members of the House Education and the Workforce Committee seems
to be the giant bully of bullies – especially during the lame-duck session of
Congress. The Los Angeles Times reports it HERE.
“Passing legislation on a tight
deadline–especially a bogus deadline–is invariably a formula for serious
mischief. That’s what’s happening with a proposal to deal with a supposed
crisis in worker pensions by allowing trustees to slash the pensions of already-retired
workers to shreds.
Read Ken’s
important blog post:
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