Posts tagged Pension Fund
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.