Posts tagged Pension Fund
The president of the AFL-CIO says she’s committed to the fight against Trump’s immigration policies
June 18, 2025 // We’re deploying strategies in the courts, in Congress. We have pension fund investments that we know can be used strategically as leverage as well. We’re the only institution in the country that has a network of local labor bodies in every state and every city in this country. We have access to working people and workplaces that we can use to educate and train and activate on a moment’s notice. We [were] not going to just close up shop and move on after David’s been released. This is just the start.
Open Rebellion Against Teamsters GP Sean O’Brien
August 21, 2024 // During the TNBC conference, Chris Silvera of Local 808 delivered a gruesome critique of O’Brien over his embracement of the pro Right-to-Work Trump. But more importantly, he also called on the members to make “the general president a one-term general president.” International vice president-at-large – John Palmer who was also present at the event received a great reception after being the first officer to openly lead the rebellion against O’Brien. Already following O’Brien’s fascistic speech at the RNC, Palmer announced he was seeking to build an opposition slate to unseat O’Brien and “send him back to the truck.” To the surprise of everyone, Joint Council (JC) 28 in the state of Washington headed by Western Region vice president – Rick Hicks, in a press release attacked Trump’s and Elon Musk’s union busting conversation, before endorsing Harris for president. The executive board of Local 186 led by Abel Garcia in Ventura CA became the first local of the largest joint council in the nation, JC 42, to also endorse Harris.
PENNSYLVANIA: Shapiro Appoints Teachers’ Union Fox to Oversee PA’s Pension Henhouse
November 30, 2023 // espite that huge infusion of money, however, the plan reported a $40 billion deficit, and retirees had not seen a benefit increase in nine years. Meanwhile, according to The Inquirer, PSERS “is still paying lawyers to deal with the fallout of a scandal touched off by an exaggerated profit report and scrutinized land deals. More than $6 million has been paid already, and ongoing litigation suggests an internal probe that coincided with investigations by federal authorities left some unanswered questions. The PSERS fund is also offloading $1.4 billion in “directly owned real estate,” some of it priced at a loss, but officials wouldn't say how much of the proceeds would go to the agency or how it might be reinvested.”
Laufenberg sentenced for stealing union funds
November 18, 2022 // George R. Laufenberg, a former commissioner of the Port Authority of New York and New Jersey, admitted in June that he had stolen pension fund and made false statements to the U.S. Department of Labor. U.S. District Court Judge Kevin McNulty also imposed a $20,000 fine on the former labor leader. Federal prosecutors said that Laufenberg took the funds under a deferred compensation agreement that he was not entitled to. He was the administrative manager of the pension fund. The Eastern Atlantic States Regional Council of Carpenters fired Laufenberg in 2016. In 2018, they also terminated John Ballantyne, the former secretary-treasurer of the union and a political ally of Gov. Phil Murphy. Ballantyne alleged that he was forced out after emerging as a critic of Laufenberg.
Act 10 Savings Tops $15 Billion Since 2011
March 27, 2022 // Before the unions convince you that contributing 12.6% towards health insurance is an unfair and undue burden, think about this. A state employee in Wisconsin pays $2,952 a year for the regular family plan with dental. According to the Kaiser Family Foundation, the average annual worker premium contribution is $6,015 a year. State employees pay roughly half of what the average taxpayer pays for health insurance and the state employee is receiving platinum coverage for that reasonable amount.
A “Critical” Issue with Pensions
February 12, 2022 // Here's everything you need to know about union pension plans and their current funding status.