Keep Our Pension Promises Act
Our pensions about to be cut. The New York State Teamsters Conference Pension & Retirement Fund is under-funded.
The Keep Our Pension Promises Act would put money into our pension fund so it can pay promised pensions. It would close two tax loopholes for the very wealthy and use the revenue to put $29 billion into a Legacy Fund in the federal Pension Benefit Guaranty Corporation for under-funded pension plans like ours.
Contact your Senators and Representatives in Congress and tell them to co-sponsor and support the Keep Our Pension Promises Act. For their contact information, see this Teamsters for Democracy leaflet.
Pension Rights Center
www.pensionrights.org/issues/legislation/keep-our-pension-promises-act-2015
www.pensionrights.org/publications/fact-sheet/why-keep-our-pension-promises-act-must-be-passed
The House and Senate Bills
www.govtrack.us/congress/bills/114/s1631
www.govtrack.us/congress/bills/114/s1631
General Information on Pensions:
Pensions Rights Center: http://www.pensionrights.org
Background to the Current Pension Crisis:
David Cay Johnston, “Is There a Pension Crisis?”: https://www.youtube.com/watch?v=AF-j-2mXE3U (12 minute video)
David Cay Johnston is an investigative journalist and author, a specialist in economics and tax issues, winner of the 2001 Pulitzer Prize for Beat Reporting, and currently teaches at Syracuse University’s College of Law and Whitman School of Management.
Michael Hudson, “Playing the Pension Funds”: http://michael-hudson.com/2015/01/playing-the-pension-funds/ (11 minute video).
Michael Hudson, “The Coming War on Pensions”: http://www.counterpunch.org/2015/01/05/the-coming-war-on-pensions/
Michael Hudson is an economist, former Wall Street analyst, consultant to the United Nations and many countries, and a professor at University of Missouri, Kansas City and the Levy Economics Institute of Bard College.