This is probably the tip of the ice berg. It appears most public employees’ pension plans are underfunded. I wonder who will bail them out?
“Why Are Public Pensions Often Underfunded?”
“Look at the state of Illinois’ public sector pension plan. The reason their plans are so poorly funded is because they just don’t put sufficient money in. It’s very simple. They keep making promises, and they don’t fund them.”
“Help for working families” “when families sit around the kitchen table” “My dad always told me, ‘Joey, take every chance you get to squander the people’s money’” blah blah blah
“Labor Union” is a euphemism for organized crime. Money laundering (particularly for the demoncrat party) is their stock in trade.
MILLIONS of Americans have lost vast amounts of THEIR pensions thru 401 values dropping in stock market.
Dems will find a way to cut Soc Sec payments so they can continue to support Medicare & Medicaid payments to illegals & ‘low income’ for things ;ole food—rent—down payments on homes, etc.
Supporting TAXPAYER money going to the TEAMSTERS is outright theft/fraud.
I was a Teamsters union member in the late 60’s.
Hoffa was on trial for STEALING PENSION FUNDS THEN!!!!
Every Teamster member was assessed an extra $1 a month on their dues-—TO PAY FOR HOFFA’S legal team!!!
I was irate-—and still am over that.
NEVER FORGOT.
$36 BILLION
40,000 ‘workers’
My math says that is $900,000 PER WORKER
WTH???
JOE getting another 10% ?????//
Well shoot...what the heck?
This just comes out of thin air?
SMDH.
The Central States Pension Fund became severely underfunded while under the supervision of the Department of Labor and U.S. District Court, from 1982 through 2014. The CSPF assets were mismanaged by the government, who selected and vetted the Wall Street banks that squandered an estimated $20 billion through risky and reckless investments, which could have been prevented if The Employee Retirement Income Security Act of 1974 (ERISA) had been enforced by the labor department, as was their responsibility.
Well I sure feel warm and fuzzy I get to bail them out.
He’s paying them back for all those phone banks and ballot harvesting they handled for him.
As long as it’s coming out of Biden’s bank account, I’m okay with it.
“The WhiteHouse said” is the key to the whole mess. No taxpayer money should ever be used to fund a failing union.