Municipal Government

Central States Pension Cuts – ‘The Most Disgusting, Egregious Crime Against The Elderly People Of This Country’

April 13, 2016
By Doug Cunningham 
Workers Independent News

Washington, DC – [Bob Amsden]: "It's the most disgusting, egregious crime against the elderly people of this country I've ever seen done in my life." Retired Milwaukee Teamster Bob Amsden talking about the huge 30-70 percent pension cuts that are coming for retirees depending on the Central States Pension Fund.

A final decision on the cuts is coming May 7th.

Hundreds of retirees and workers from across the country are going to Washington D.C. for rallies, lobbying and protests Thursday to try to stop the cuts. Amsden says a consent decree taking management of the pension fund away from the Teamsters coupled with de-regulation of the trucking industry in 1982 began undermining the pension fund.

An act of Congress called The Multi-Employer Pension Reform Act of 2014 made the big pension cuts that are now looming legal.

[Bob Amsden]: "What it should have been called is "Cut The Throats Of The People of The United States", because you've got fifteen hundred multi-employer pension plans out there. It's gonna affect ten million people if this goes through. And it's your neighbors, it's your aunts, your uncles, your parents, your grandparents that are gonna be suffering by this."

Amsden says when the government consent decree took over Central States Pension Fund management, guess who they turned the pension over to? Wall Street banksters at Goldman Sachs and Morgan Chase.

Amsden says these pension cuts don't just affect Teamster truckers.

[Bob Amsden]: "This isn't just a Teamster issue or a union issue. This is the people of the United States, who built this country off the sweat of their backs, who gave up wages, and holidays and everything else and time with their children. They gave up everything to get this pension, which was our golden parachute at the end of the road. And the lives that are gonna be devastated by this are insurmountable." To hear the audio click the following link

April 12, 2016

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