 merrie says: and union employees at the expense of the rank-and-file. To regain some semblance of fiscal stability, the SEIU has wagered heavily on forcing other employees to help fund its drying pension reserves. That was the motivation behind the Employee Free Choice Act (EFCA) ("Card Check"), a major Democrat initiative for 2009, and one on which the SEIU spent tens of millions of its members' money. Since Card Check is in serious trouble with lawmakers, state-run health care would be a suitable alternative. • The public option could force hospital and other health care workers into underfunded pensions, putting their retirements at risk • The average union pension has resources to cover only 62% of what is owed to participants • Less than one in every 160 union-represented workers is covered by a union pension with required assets • The PBGC already supports upwards of 30,000 pension plans • Pension Benefit Guarantee Corporation (PBGC), the governmental pension insurer, . . will assume $86.7 billion in liabilities by 2015 • The PBGC limits the benefits in multi-employer plans to $13,000 a year per retiree, compared with roughly $52,000 for single-employer plans. • In 2007, the PBGC reported a deficit of $955 million, a $216 million increase from the previous year • In July, the PBGC agreed to take on $6.2 billion in pension liabilities from bankrupt auto supplier Delphi Corp THE UNLUCKY SEIU THIRTEEN CHART Link below http://3.bp.blogspot.com/_orkXxp0bhEA/SnWuFmTF-SI/AAAAAAAAUlk/ik–U7okyiU/s1600-h/090802-seiu-5.jpg Socialed medicine is a Democrat payoff to union bosses, who fear what will happen when the massive pension disparity between workers and bo... |
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