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Union Pension Turmoil

The New York State Teamsters Conference pension fund withdrew their application to cut pensions after getting information that hinted their first application would be denied. While this doesn’t mean the 5,200 active and retired Teamsters members in New York are in the clear for good, it does mean that their pensions are safe for a few more months.

Meanwhile, four more unions filed applications with the U.S. Treasury Department asking permission to cut retirement benefits in order to keep their funds solvent (hopefully). The United Furniture Workers’ (merged with IUE-CWA) fund is in the worst shape of the new applicants with projected insolvency expected to take place in the next five years if nothing is done. In total, if all applications are approved, as many as 20,309 union members could

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UAW Freezes Workers Out of Recovery

Workers at GM’s assembly plant in Moraine, Ohio had the opportunity to join the UAW in 1981, when the factory was first converted from making Frigidaire refrigerators to assembling vehicles. At the time they were members of the International Union of Electrical Workers, and they voted to stick with the IUE. For decades the Moraine workers simply agreed to the language of the UAW master agreement and there was never any labor tension in the Moraine plant. In fact, in 2007, the plant won recognition as the nation’s most efficient midsize-SUV plant from The Harbour Report™, a measure of manufacturing productivity. Not long afterward that award however IUE leaders made the mistake that would later cost all Moraine employees their jobs – they made concessions at the start of the economic downturn against the expressed wishes

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