Democrats and labor unions have a long history of working together, with labor unions delivering piles of election cash (sucked from member dues) and union member votes in exchange for dubious, pro-union legislation such as requiring union membership to work in a state and looking the other way when unions violate laws or requirements that other entities must follow. Union pension funds have often been a reliable source for financing slush funds and other scams that enriched the union leadership and politicians, but were rarely monitored to ensure union members and their retirement funds were being protected.
The unions generally have also promised much more than they could deliver, and like all ponzi schemes, the promised money finally exceeds incoming revenue. And now 407,000 private sector workers are about to lose most of their pensions due to false promises and phony financial projections.
One of the nation’s largest pension funds will be broke by 2025, page 2:
Typical of this government.
America is going down, sad, ever so sad.
Vote democrat again you idiots, get rid of those unions they have sold you down the river wake the$#%&!@*up
unions controlled by the mafia have done this time and again, is there a connection here?
What did all these democrats think was going to happen. We keep going farther and farther into debt. And they just keep voting to spend billions more. Where do they think the government gets all this money to spend on other countries. And on all these refugees and immigrants. From your hard earned future…that’s where. Well union workers get paid well. Hope you saved your pennies. Because no, I don’t want to bail you out. You got in bed with the government. Now you have to pay the piper
Bastards.
Holy c**p, pentions still exzist?!
Didn’t read the story behind this but I’m sure our thieving government has something to do with it. You work your entire life to accrue a little something for your later days only to find out that it’s being wiped out with a false and misleading explanation. How fraudulent is this!!
Democrats fucked them real good.
They do stuff to push the envelope, knowing full well people will groan and gripe, but that’s all they will do. There are a few who will speak out publicly and/or take action, but they are silenced by threatening or just put in jail. Anymore America is the land of the free, only if you play along and do nothing to try and stop them. The moment you get out of line, you are marked.
Kind of ironic that only government workers have a pension system fully funded by you, the taxpayers.