Writing for the New York Sun, Diana Furchtgott-Roth has discovered that the Service Employees International Union (SEIU) dramatically under funded the pension fund for its rank-and-file members.
. . . [T]he SEIU National Industry Pension Plan, a plan for the rank-and-file members, covering 100,787 workers, was 75% funded. That is, it had three-fourths of the money it needed to pay benefit obligations of workers and retirees.
In contrast, a separate fund for the union’s own employees, numbering 1,305, participants was 91% funded. Even better, the pension fund for SEIU officers and employees, which had 6,595 members, was 103% funded.
In other words, the pensions of the union bosses are secure while rank-and-file members’ pensions are at risk.
New Hampshire workers Patrick Doughty and Randy Severance's Supreme Court case seeking a refund after being forced to pay union dues has been fully briefed.
State laws protecting employees’ Right to Work are strongly correlated with better- funded public pensions. On average, unfunded pension liabilities per…
The Machinists’ Local S6 union issued an alert warning message from leadership on Thursday, saying that anyone who chooses to cross the pickets will be fined after the strike is over. It also included harsh references to so-called scabs, suggesting they should be drowned or hung.