From The Washington Examiner, “Union officer pension funds remain flush as rank-and-file retirement plans deteriorate.”
“This issue of rank and file pension plans being funded less than the officer pension plans is extraordinarily serious and shows a great moral failing on the part of the unions,” said Diana Furchtgott-Roth, a senior fellow with the Hudson Institute who authored the study.
“They’re just not putting enough money into the rank and file plans. My suspicion is that when unions bargain with an employer for a benefits package they are focusing on wage increases because this is more visible to the membership and they are not focusing on pension benefits.”
And an earlier commentary from Furchtgott-Roth, former chief economist at the Department of Labor, “The Hidden Agenda Behind Card Check.”
Organized labor has finally found a way to replenish the coffers of its underfunded pension plans. The key is mandatory binding arbitration between newly-formed unions and employers, one of the main provisions of the misnamed Employee Free Choice Act.
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