Posted by Lou on May 5, 2016
Brothers and Sisters,
There have been a bunch of links to articles about pensions be sent around among our membership lately, so it makes sense to post them here.
It looks like one of the nation’s largest pension funds could be cutting benefits for retirees. The part of this article that really hit home with me was:
For many workers, the promise of a [pension] — a benefit now nearly extinct for younger generations — was at times strong enough to convince them to sacrifice pay raises or other job opportunities.
Locally, Ted Siedle takes the Governor to task regarding investment returns from her former employer’s hedge fund, Point Judith Capital in a recent article on Forbes.com. And GoLocalProv.com posts a brief article talking about how the pension fund lost money by investing with Point Judith Capital, while the Governor continues to earn her share of management fees paid to the fund.
How does this make you feel? What should union members be doing to combat these issues? Let us know in the comments below.
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