Social Security. Defined benefit pensions. Increasingly, secure and dignified retirement is the difference between union and non-union employment.
Pension plans that cut retiree benefits to restore solvency would face the toughest dilemma under the pension rescue rules announced July 9.
In the Portland area, Plasterers Local 82 and OPEIU Local 11 could undo pension benefit cuts almost immediately.
The just-passed COVID relief bill will rescue and restore over 100 declining union pension plans.
Congress’ latest COVID relief bill would also shore up declining union-sponsored multi-employer pensions and restore pension benefits.
The Oregon Supreme Court say lawmakers can cut benefits going forward, just not benefits employees have already earned.
Republicans wanted deeper cuts, Oregon’s House Speaker Tina Kotek and fellow Portland House Democrat Rob Nosse told public sector union members.
Plaintiffs say SB 1049 is a breach of contract, an illegal taking, and violates the Constitution.
The bill would give federal loans to union multi-employer pension plans to prevent their collapse.
The Butch-Lewis Act would lend money to pension plans to give them a chance to recover.
Top Democrats propose to cut public employee compensation and divert those resources to fund employer obligations to the pension system, but a coalition of public employee unions plans to fight the cuts in the Capitol and in the courts if need be.