Over 5K Capital Region Teamster Families Are Now Victims Of A Pension System That Could Collapse On Itself; These Teamsters Have Worked For Years Paying Into The System, But Now Have Been Forced To Take A 30 Percent Cut in Benefits & Could Lose Even More Of Their Hard-Earned Pension
"For years, these plans offered working families a nest egg in their retirement. But today, everything has changed, with pension plans being slashed and with the risk of future, deeper cuts.
After the 2008 financial crisis, the Great Recession and tectonic shifts in our economy, many plans, including the
Schumer said the
Schumer said Capital Region New Yorkers deserve a Better Deal on pensions and is calling on
Schumer explained the "Butch Lewis Act" would create a new office within the
Schumer was joined by 294 President
In addition to prohibiting the borrowed funds from being used to make risky investments, the bill also requires plans that borrow money to submit reports to the PRA every three years to demonstrate that the plans are on track to getting back on solid footing. Pension plans may borrow as much money as they need, as long as they can demonstrate the ability to repay the loan. The interest will be comparable to that of a 30-year
Kooren has been a Leader in ND & Nationally to Help Protect Pensions of Retirees who have Paid into the Central States Pension Plan
Hogan Lovells Represents Scottish Re Group in Sale, Restructuring in Chapter 11 Proceedings
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