It looks like Obama's favorite union, SEIU, is getting ready to stick the taxpayers for its bad investment decisions on the pensions it represents. Take a few minutes to open this link and read the entire atricle. It's something like 4 pages in total and I only cut and pasted the first couple of paragraphs.
Bad news for all of us. More clowns getting a shot at your hard earned $$$.
http://www.washingtontimes.com/news/2010/mar/25/unions-eye-new-pools-for-pensions/
Unions want Washington's help with pension funds. Private businesses could take hit from labor
By Kevin Mooney SPECIAL TO THE WASHINGTON TIMES
Nonunion workers and private companies could be forced into absorbing the financial liabilities of underfunded union pension plans, thanks to pending health care mandates and an executive order that could be finalized this year, policy analysts and trade group representatives have concluded.
Even as unions continue to market themselves to new members on the basis of generous pension programs, government figures show these plans are performing poorly in comparison with retirement packages that operate beyond the orbit of organized labor.
In addition, unions are pushing the Obama administration on project labor agreements (PLAs), which, among other things, will give their pension plans new sources of outside funding - nonunion workers on government contracts worth more than $25 million.
The average union pension has resources to cover only 62 percent of what is owed to participants, according to the Pension Benefit Guarantee Corp. Pensions with less than 80 percent of the assets needed to cover present and projected liabilities are considered "endangered," while those that fall below a 65 percent threshold are classified as "critical" under the Pension Protection Act of 2006.
ETC...
More freedoms being destroyed, courtesy of the the Royal Jester and his merry band of junior idiots. :cowboy
in Illinois my cousin could not by a furnace part to fix his church's heating system because he was not union.nobody would sell to him,including the local hardware store that had the part,i had to ship it to him from FL. 🙁 🙁
