Posts tagged Pension
Nearly 1,200 Boston hotel workers walk off the job in strike’s biggest wave
September 23, 2024 // The first wave of strikes began in Boston and eight other cities during the Labor Day weekend. To date, about 2,500 hotel workers from 12 Boston properties have walked off the job in three waves of three-day strikes. Workers from the first and second strike waves are employees of the Hilton Park Plaza, Hilton Boston Logan Airport, Hampton Inn & Homewood Suites at the Hilton Seaport, Fairmont Copley Plaza, The Dagny Boston, Moxy Boston Downtown, The Newbury Boston and the W Boston.
Back to school, back to the union? Commentary
September 9, 2024 // Union membership is a personal decision, and for a variety of reasons, thousands of Minnesota educators across the state have said no thanks to what the union is prioritizing. Just as educators encourage their students to be independent thinkers and hold true to themselves, so too should educators be trusted by their colleagues to make decisions that are best for them and their families. The right to say “no” to union membership is just as important as the right to say “yes” to it — but educators first need to know they actually do have a choice. And it’s important that respect exists for that choice.
Casting Assistants Unanimously Vote to Unionize With Teamsters Locals
August 14, 2024 // Ninety-one casting assistants employed by top studios supported unionizing with Locals 399 and 817 in a National Labor Relations Board vote.
Foxx Expands Investigation of Biden-Harris Scheme to Use Pension Assets for Big Labor
July 31, 2024 // “The Committee on Education and the Workforce (Committee) is investigating attempts by the Biden-Harris administration and certain pension funds to leverage retirement assets for the benefit of organized labor. The Internal Revenue Code (Code) makes public pensions eligible for significant tax subsidies if, among other things, their benefits are part of a plan ‘for the exclusive benefit of [an employer’s] employees or their beneficiaries.’ The Committee seeks information to determine whether the law is being undermined by the Biden-Harris administration and violated by certain pension funds. … The Internal Revenue Service (IRS) has an obligation to enforce the provisions of the Code to ensure that taxpayers are not improperly subsidizing a retirement plan that does not, in fact, comply with the Code’s exclusive benefit requirement. To the extent that CalPERS is using plan assets for the benefit of social or political causes, the plan’s tax status is no longer valid.”
Writer Earnings Fell $600 Million Due to Strike and Industry Contraction, WGA Says
July 30, 2024 // TV and film writer earnings fell $603 million last year, or about 32%, as the end of “Peak TV” coincided with a 148-day strike by the Writers of Guild of America. Writer earnings, reported for dues purposes, dropped to $1.29 billion in 2023. Adjusted for inflation, that is the lowest level since the writers strike in 2007-08.
Hotel workers in four US cities to hold strike authorization votes
July 25, 2024 // Workers at 125 hotels in the four cities have sought significant pay raises in new contracts to replace ones that have expired or will expire soon. They are also seeking better healthcare and pension plans and are looking for hotel operators to reverse pandemic-era staff and service cuts like daily room cleaning.
PBGC Just Announced Nearly $2.3 Billion Will Go To 4 Underfunded Union Pensions
June 22, 2024 // On Thursday, the Pension Benefit Guaranty Corporation (PBGC) announced that it had approved the bailouts of four underfunded union pension plans totaling nearly $2.4 billion. Of the nearly $2.4 billion, the largest payments of taxpayer dollars will go to a grocery union pension and a printers’ union (which is now part of the Teamsters).
PBGC Announces nearly $650 Million In Taxpayer Monies To Go To Four More Failing Union Pension Plans
June 12, 2024 // On Tuesday, the PBGC announced it approved approximately $545.6 million in special financial assistance (SFA) to the CWA/ITU Negotiated Pension Plan (CWA/ITU Plan), based in Mount Laurel, New Jersey. The plan, which covers 24,288 participants in the printing industry, was projected to become insolvent and run out of money in 2029.
Kroger e-commerce center workers vote to join Teamsters
May 23, 2024 // “We expected better from these two longtime Teamster employers. Clearly, they are more interested in guaranteeing big payouts for management,” Teamsters General President Sean M. O’Brien said in a statement at the time of that announcement. Last December, the Teamsters urged the Federal Trade Commission to reject Kroger and Albertsons’ plan to sell hundreds of stores and other assets to assuage antitrust concerns surrounding their proposed combination.
CONNECTICUT: Senator’s Dual Roles Raise Ethical Questions Amid Legislative Decisions
April 29, 2024 // Citing the need to pay people “a fair wage and a fair pension,” Sen Hochadel argued that the state must provide higher wages — which already exceed the private sector — to address state job vacancies. This stance suggests a dual agenda: to attract job candidates to the state and swell the ranks of her union with more dues paying members. During her remarks, the Senator acknowledged her members, expressing appreciation for their contributions to the state of Connecticut and urged her colleagues “to vote yes.” While this advocacy may not be surprising, she also serves as the president of the Connecticut American Federation of Teachers (AFT) — one of the unions involved in the negotiations. AFT represents a broader group than just teachers. The union also includes dues paying members who are state employees in the executive and judicial branches, as well as staff at state colleges, universities and UConn Health.