Union Pension Scandal

There is another union pension scandal brewing.  A Hudson Institute study in September demonstrated that the union hierarchy’s staff plan is funded at over 95 percent, while the average funding percentage of a rank-and-file member’s pension plan is 79 percent. Not one of the staff pensions are on the Department of Labor’s list of critically underfunded pension plans, while more than half of rank-and-file pension plans are endangered.   The evidence is clear, the bosses are padding their pockets while leaving the rank-and-file out to hang.