Hold on to Your Wallet

Grab Your Wallets and Pocketbooks and Hold Tight!  

Mitt Romney is aiming to get back on the national stage, and this time Little Lord Fauntleroy is threatening our Social Security and Medicare to accomplish his goal.

  

Earlier this month, the Republican Senator from Utah, convinced three other members of the Senate to join him as co-sponsors of his TRUST (Time to Rescue United States Trusts) Act. The bill is falsely aimed at reducing the federal deficit.  “Falsely” because even as the guru of trickle-down economics, Ronald Reagan once declared, “Social Security has nothing to do with the deficit.” The Gipper went on to say that the retirement savings trust is a pay-as-you-go program, which is supported by payroll contributions made by workers and their employers.  It has never added a penny to the national debt, but for some reason many right-wing politicians run with the false narrative that the answer to fixing the national debt is found in reducing Social Security.

But truth be damned, Romney charges on telling anyone who will listen to his baseless claim that, “If you ever want to see a balanced budget, if you ever want to get out of debt, you have to deal with these trust funds. The trusts that the Senator refers to are: Social Security Old-Age and Survivors Insurance, S.S. Disability Insurance, Medicare Hospital Insurance, and the Highway Trust Fund.

Most Steelworkers are aware of the Social Security trusts.  However, some may be unfamiliar with the Highway Trust. The fund is a federal program that is funded by fuel and other related excise taxes. It is actually two accounts. One account provides dollars to support mass-transit expansion and development; while the other supports improvements of surface transportation and infrastructure repairs.  

So, how would the Romney TRUST Act work?  If the bill is passed, the U.S. Treasury Department would have 30 days to prepare and deliver a report to Congress on the status of the trusts. Congressional leaders would then form a “rescue” committee for each trust fund.  Those committees would be made up of at least two members of each political party. They would meet to develop legislation to repair the funds’ solvency and identify other improvements.

Finally, any qualified legislative proposals arising from the committee process will get expedited consideration before the House and Senate.  Critics are concerned that the expedited process is akin to “FAST TRACK!”  They fear that proposals would get hammered out in closed-door sessions. Once they were approved by the rescue committee, they would be sent for a floor vote of yes or no.  There would be no hearings, no debate, and no amendment. If that process sounds familiar, it’s the same process used to pass every failed trade agreement the country has ever entered into, and we have all seen how well that worked out!

Romney’s TRUST Act is a ploy being perpetrated in the name of bi-partisanship. Its real goal is to cut benefits, raise the retirement age, and ultimately privatize the trusts working-class families have come to rely on.  These trusts have been disguised as fiscal responsibility. Don’t be fooled by gimmicky marketing, now is the time to expand Social Security and Medicare -- not to cut them!

Jay McMurran, District 2 SOAR Board Member

Oh Yes, We're Watching

Active and Retired Workers are Watching

Tuesday, November 5 marked another momentous election for union-endorsed candidates, with the two most notable demonstrations of the labor movement resurgence coming from Kentucky and Virginia.                                                                                            In Virginia, the labor movement and our union, specifically, will remember this election as a significant victory in our work to reverse the many ways Virginians have been hurt by the state’s so-called “Right to Work” law and the persistence of an anti-worker majority in the State House (1997-2019) and State Senate (2015-2019).   

Our union committed significant resources in this campaign with a core group of activists who knocked doors in addition to a targeted “Get-Out-The-Vote” mailing that hit mailboxes just before Election Day.  USW activists accounted for more walk shifts than any other affiliate that participated in the AFL-CIO program, which helped lift six union-backed candidates to victory in legislative districts previously held by anti-labor lawmakers (two in the State Senate and four in the House).   

This new pro-worker majority in the state legislature will be a welcome addition to the labor-friendly Governor, Ralph Northam, who we helped elect in 2017.  

In Kentucky, USW activists led the way in a labor-led victory for Andy Beshear, defeating incumbent Governor Matt Bevin who earned the ire of teachers and first-responders when he supported legislation that would force them to work longer before even being eligible for retirement, and enforce deep cuts in benefits for future retirees.  Additionally, Bevin reversed the state’s tradition of respecting union rights when he signed the so-called “Right to Work” law in 2017.  

On the promise to fight on behalf of retirees and workers in Kentucky, Andy Beshear pledged to work with labor to protect pensions, strengthen public education, and expand access to good jobs and health care.  

With 2020 on everyone’s mind, we should understand one thing very clear:  Active and retired workers are watching.  

Julie Stein, SOAR Director
Source: https://www.kentucky.com/news/politics-government/article208518614.html

We Thank You Congressman Visclosky

Rep. Visclosky to Enjoy Well-Deserved Retirement 

The American steel industry is losing one of its staunchest allies in Congress at the conclusion of the current session. 

U.S. Representative Pete Visclosky (D-Ind.) announced in early November that he will not seek re-election in 2020 after serving 35 years in Congress representing the popular steel mill district of Northwest Indiana just south of Chicago. 

Visclosky was born in Gary, Indiana and has been in office since 1986, making him the longest-serving member of Indiana’s Congressional delegation. He has fought tirelessly for the betterment of the American steel industry and USW members. 

Visclosky represents Indiana’s Congressional District 1, which is the largest steel-producing district in the country. U.S. Steel’s Gary Works and ArcelorMittal’s plate mill in Burns Harbor are in Visclosky’s district and the congressman has always stood front and center during the trying times in America’s steel industry. 

Over his long Congressional career, Visclosky has represented thousands of USW members and could always be counted on to voice the concerns of our union brothers and sisters. 

Visclosky was a leader of the Congressional Steel Caucus for many years and he fought for tougher trade enforcement rules. He has been a crucial voice in combating China’s “dumping” of cheap, state- subsidized steel into the U.S. He realized that steel production was the foundation of Northwest Indiana and the foundation of our national defense and national security. 

And he fought to provide and keep the well-paying, benefit-friendly steel mill jobs in the part of Indiana known as The Region. America’s steelworkers will be hard-pressed to find another ally in Congress as effective as Visclosky. 

The Alliance for American Manufacturing wants to thank Rep. Visclosky for his stellar career in support of steelworkers and manufacturing. We hate to see you go Pete; but, enjoy your well-deserved retirement. 

Jeff Bonior is a staff writer at the Alliance for American Manufacturing 

'SOAR'ing in the Iron Range

‘SOAR’-ing in Retirement

IRON RANGE — The first Wednesday of every month, a group of local silver-haired activists known as the Steelworker Organization of Active Retirees — known simply as SOAR — gets together for donuts, coffee and to dish on politics. “We have roughly 300-plus members, and they come from U.S. Steel, [former] EVTAC, Hibbing Taconite, and around the area,” SOAR President Sam Ricker recently told the Hibbing Daily Tribune. “It’s just about getting people together and to find out about political campaigns.”

The local SOAR chapter is part of a larger organization that was first established in 1985 to help strengthen the Steelworkers union by bringing together retirees to act as advocates, activists and volunteers in the communities where they lived. The members are comprised of former miners, their spouses and, according to Ricker, they’ve also opened up membership to non-Steelworkers who embody the same principals and values their group upholds.

According to usw.org, SOAR leaders encouraged chapter formations in 2011 to foster more direct communication between chapter leaders and their local unions. The idea was to help gain insight on negotiation issues regarding retirees. As the website states, “With the establishment of SOAR, our union solidified its focus on the unique issues impacting USW retirees and their spouses. Further, SOAR has been engaged in countless efforts to assure security for current and future generations of retirees, regardless of whether they belong to a union or not.”

Before Ricker became president of his local SOAR chapter, he was employed for 36 years at the former Eveleth Taconite Co. — aka “EVTAC.” The 1961 Nashwauk graduate was working in Minneapolis for Honeywell before he returned to the area and began working at EVTAC in the late ‘60s as a maintenance mechanic. Two years later, he became a machinist and would stick at that job for the next 34 years.

“It seemed to change over the years, as new management came in,” Ricker said, reflecting how the atmosphere shifted from “more personal” to “more business” during his time there. Ricker then retired in January 2003, mere months before the plant shut down which resulted in 450 employees getting laid off. Eventually, the closed plant would be purchased by Cliffs and would reopen as United Taconite, which celebrated 50 years of iron ore production at the Eveleth site in 2014. “I got involved with SOAR two years after I retired,” Ricker told the HDT. “A friend of mine mentioned they were having these meetings, and I was the president of Local 6860 for approximately 12 years. For the 36 years I worked, at least 30 I was in some kind of office or leadership-type role.” And in less than two years, he would be president of his SOAR chapter. Ricker noted that there are two other groups nearby — in Aurora and in Marble — but the Eveleth chapter meets at 10 a.m. the first Wednesday of each month in the Local 6860 office. Twenty “regulars” attend most meetings, though that number tends to increase the closer it gets to an election. A little, anyway. For the most part, the group engages in casual debates with discussions focusing in on which candidates to get behind the closer they get to ballot casting time.

“We do have our own endorsing system,” Ricker said. “When you meet with the active [Steelworkers], you may have a majority vote and it may happen to be the candidate we support. Ninety-nine percent of the time it’s the same, but there are sometimes that it could be a different selection.” When that happens, he said, SOAR members will default to the active union members’ majority vote so they can remain unified.

As for their activism on the local level, Ricker said that mainly comes down to making phone calls. “There aren’t too many who do that, but I guess I would be one of them,” he chuckled. “Otherwise, it’s just getting the word out and talking to people when attending different functions. Especially when the Steelworkers have a contract conflict — we’ll attend those meetings and hold a banner. We try to provide any assistance we can when they ask for it.”

Each July, the members from all three local SOAR chapters get together for a picnic. They take turns deciding who will host and extend invitations to local politicians. Their last event took place in Pengilly, where state Senator David Tomassoni and other politicians made appearances for the roughly 50 or so people in attendance, Ricker said. The group also walks in parades and shows up for their active Steelworkers when called upon. Mostly, however, Ricker insists their get togethers are of a casual nature — his favorite part being the conversations, which “never get too heated.”

“It’s more of a social club,” Ricker said, describing it as a place to chew about local news, politics and whatever is happening in their lives. “When there's nothing going on politically, we bring up things that have happened in the past, joking around in a nice format.” They also use the hour-long meetings to acknowledge and honor any members who have passed away. “Overall, it’s been pretty peaceful. Everyone pretty much as their own beliefs, and they’re all welcome,” Ricker added.

As for membership fees, Ricker explained that the first year is usually paid by the Local the retiree is from, after that it’s $12 for the member, and $3 for the spouse annually. Anyone interested in joining the Eveleth chapter of SOAR can contact Ricker at 218-744-4668. “They’re entirely welcome to come and voice their opinion and join in the conversation and enjoy some coffee and donuts.”

Carrie Manner, Staff Writer
Hibbing Daily Tribune

Social Security – What’s Open and Honest Behind Closed Doors?

Social Security – What’s Open and Honest Behind Closed Doors?

In a September 2019 town hall meeting in Emmet County, Iowa, U.S. Senator Joni Ernst complained, openly, that groups like SOAR are making her job more difficult than she would like.  

Regarding the future of Social Security, Senator Ernst said, “We do need to sit down behind closed doors, so we’re not being scrutinized by this group or the other, and just have an open and honest conversation...”  “The minute you say we need to address Social Security, the media is hammering you, the opposing party is hammering you — there goes granny over a cliff.” Senator Ernst continued, “We know that there is a point in time when we as Congress will have to address the situation, and I think it’s better done sooner rather than later, to make sure that we shored up that system.”

When you hear the words, “shore(d) up that system,” and “behind closed doors” – do you get the sense that Senator Ernst wants to expand the benefits of Social Security to more Americans? Do you think Senator Ernst wants to figure out a way for future generations of Americans to be able to retire with dignity?

Or, are you getting flashbacks to contract negotiations from your working years when management wanted to have closed-door talks so they could raid our pension or increase workers’ healthcare contributions? Do you get the sense, like me, that Senator Ernst believes Social Security is an entitlement and not something Americans have earned (even though we certainly have)?  

There is a reason Social Security is arguably the most popular legislative achievement in our history.  

For many Americans, particularly widowed women, Social Security is the last thing between living with some dignity and absolute poverty.  Social Security is a financial investment made by American workers held in trust to assure that retirees, the elderly, people with disabilities, or the children and families of deceased workers will not be abandoned by the richest nation on earth.  

If Senator Ernst gets her way, Americans will be having tough conversations with their spouses around empty kitchen tables for years to come. Not because Americans will be living longer lives, but let’s be  open and honest here, they won’t be living the lives they anticipated if Social Security is destroyed.

Julie Stein, SOAR Director

Cadillac Tax Repeal

Repeal of Cadillac Tax Protects Affordable Health Care for Millions - Especially Retirees

by Robert Roach, Jr.

The House recently passed H.R. 748, the Middle Class Health Benefits Tax Repeal Act. It repeals the 40 percent tax on employer-provided health care plans scheduled to take effect in 2022. 

The excise tax, commonly referred to as the “Cadillac Tax,” H.R. 748 passed by a wide margin with Republican and Democratic members voting for it. Now we need the Senate to pass it and send it to the president for signature. 

This excise tax is part of the Affordable Care Act (ACA), and it was initially conceived as a way to tax wealthy Americans’ high-premium plans to help provide coverage for uninsured individuals and families. In reality, the tax would disproportionately affect middle-class workers and families, and the labor movement has been working hard to repeal it for years.

If it goes into effect, the tax would affect private health care plans, which cost at least $11,200 annually for individual coverage and $30,100 for family coverage. 181 million Americans’ employer-provided health plans would be taxed. 

Experts say that employers will increase premiums and deductibles and even reduce health coverage to avoid paying it. 

Retiree health insurance plans would be especially hard hit. If the tax is implemented, employers could cut benefits for retirees younger than 65 and stop supplemental Medicare coverage for retirees 65 and over. 

Passage of this bill is long overdue and a rare bipartisan moment for the House. We must press the Senate to take action and kill this unfair tax immediately. 

Robert Roach, Jr. is president of the Alliance for Retired Americans.  He was previously General Secretary‐Treasurer of the IAMAW.  For more information, visit www.retiredamericans.org.

What Can Labor Unions do for Veterans

USW Locals Resolve to Pay First-Year Membership Into SOAR

I Hope Some Local Unions Reconsider Their Policy

It’s a shame that we no longer have bulletin boards to post meeting dates and such to communicate with our chapter members. However, we do have the internet and a Facebook page for those who use a computer. Our SOAR in Action magazine also help to get information to our members by letting them know about serious legislation affecting workers and retirees. We also have this newsletter which gets posted to the Steelworker website for easy access.

That’s why it’s so hard for me to understand why many local unions don’t go by the intent of their resolve to provide the whopping first-year membership dues of twelve dollars for a retiree to be a member of a chapter; but, instead make the retiree go through hoops to get this meager retirement gift.

I’ve run across local union presidents that say such things as:

• “Oh yeah, we’ll provide the first-year membership dues by reimbursing the retiree when he joins the chapter.”
• “We’ll provide the first-year membership dues if the retiree attends the chapter meetings.”
• “We’ll provide the first-year membership dues if the retiree comes in to our office and asks us.”
• “We’ll provide the first-year membership dues if the retiree signs for his dues check off with the company.”

What they don’t seem to understand is that retirees get older each year. They become less mobile, they can’t always walk distances required for marches, and may not be able to stand for long lengths of time.  Gosh, many are in nursing homes or being cared for by a loved one or others. But, by golly, sometimes they are still able to write a letter, make a phone call, sign a postcard and vote in elections.

I’m so grateful that the two local unions sponsoring my own chapter (USW Locals 12775 and 13796) provide the first-year membership dues for their retirees and have done so for the past twenty years without any “ifs, ands, butts, or catches.” There is no need to join the chapter and then get reimbursed; no requirement to attend the chapter meeting (heck, we have members residing in twenty different states); no need to go to the local union office and ask them to provide the first-year membership; no need to sign a dues check off card. 

These retirees devoted their working lives to our union by paying dues for each hour they worked and faithfully supported their local union. I trust they will continue to help the union in any way possible. This is simply a reminder to local unions who read this that a retirement party is nice, a wrist watch is thoughtful, but a membership in a SOAR chapter is truly the gift that will keep on giving back to the union. SOAR is not only how retirees stay connected, but how they continue the fight for retired and working families, by helping to defend vital programs like Social Security and Medicare. 

Charlie

Just do the Right Thing, already!!!

Just do the Right Thing, Already!!!

In this Connection newsletter, I wanted to share my thoughts about the Alliance for Retired Americans’ (ARA) annual congressional voting record that was released in May, which is recognized as Older Americans Month.  

The ARA has stood shoulder-to-shoulder with the labor movement to assure all Americans the right to a secure and dignified retirement.   

Their report assesses votes taken between January 2018 and December 2018 that could impact the well-being of current and future retirees. (Any actions that have been taken by the newly-elected Congress in November 2018 will appear on the report that will be released by the ARA next year.)   

The ARA report shows what many Americans knew already:  that a vast majority of Congress was not looking out for the best interests of retirees. This explains why Americans voted to oust the largest number of incumbents since the Watergate scandal in 1974.  In fact:  

• Only 42% of Senators voted right on 100% of ARA-scored bills, compared to just 28% of U.S. House members; and, 
• Only 49% of Senators and 41% of U.S. House members voted right on 2/3 of the ARA-scored bills in 2018. 

All 41 of the U.S. House seats that flipped from Republican to Democratic control in the 2017 election were represented by a legislator who voted wrong on at least 50% of the bills scored by the ARA.  In fact, 12 of the 17 members who voted wrong 100% of the time were either defeated or retired in 2018.  Meanwhile, 99% of the members who voted right on all of the ARA-scored bills won reelection.      

So, if there are any members of Congress reading this who are concerned about reelection in 2020, I have one bit of advice that could go a long way...Doing right by retirees will help your chances more than you can imagine!

To see the full report, click here

Or, go to: https://retiredamericans.org/voting-record/

Julie Stein, SOAR Director

SOAR ARA Affiliation

Our SOAR members, in New York State, have become the latest group to affiliate with the Alliance for Retired Americans. With District 4 SOAR members affiliating with the NY State Alliance, it brings the number of states we have now affiliated with to 22. This affiliation will allow us to gather and share information, as well as giving access to more people who share our issues and are willing to get involved in New York State. I want to thank District 4 Director John Shinn for his vision and willingness to help SOAR and also the other US District Directors who have paid the dues for SOAR Chapters in other Districts to allow SOAR to become more relevant in their States.

With the recent release of the proposed budget and the attack on seniors through Social Security and Medicare/Medicaid changes, it cannot be more clear that SOAR must do all it can to educate our members and the general public about the threat to ourselves and future retirees. Today, 61 million Americans receive Social Security benefits. Over 40 million retirees rely on these modest benefits for over half of their retirement income. Also, millions of seniors, who are in nursing homes, rely on Medicaid to pay for their care. We cannot allow our story to be told to only our members. We need to join groups like the ARA so that we can expand our numbers and grow our voice on these issues.

See your District Executive Board member for more information relating to a new or existing State affiliation with the ARA.

Bill Pienta, SOAR President

Women's History Month Today

Women’s History Month

Much is being written about the historical role that women have played in our country. Women who were, and are famous. Many of the ladies in the labor movement who are being written about, are well known to union members and union retirees. But it’s the women in our era that I’m most interested in writing about.

There are many women who, although are much appreciated by us all, are, at the same time, going about their everyday duties almost as unsung heroes. Not only do we have female leaders holding every position in the Steelworkers Union, SOAR Chapters, and on the SOAR Executive Board, including the Director of SOAR, but also, those who stand in support of the men in SOAR. 

I am in awe when I think of how much my own wife has endured during my activities in my local union and with various jobs I’ve had over the past twenty years with SOAR. Elaine went with me picketing and to various demonstrations and rallies during a long eight month strike. She has put up with my going to thousands of union meetings, conferences, and schools. Even today, she helps me in putting together our SOAR newsletter and stands by me in negotiating my travel to various union and SOAR events. That’s right…..my good wife.

What in the world would I do without…..Elaine?

It’s the ladies of today who are making history. They are the ones who deserve recognition for their support which sometimes is taken for granted. 

A Steelworker Old Timer

Dan McNeil, SOAR Emeritus Member

     Dan McNeil began his work career at the STELCO Swansea Works in 1951.  During his years at STELCO, he was often on leave to the Ontario Federation of Labour and the New Democratic Party.  A year later, he became involved with the Steelworkers Union by becoming a Trustee for the local and served in every office of the local with the exception of Financial Secretary and served on the negotiating committee many times.

      Dan was also a member of the Steelworkers Toronto Area Council (STAC) and was the 1st and served as Secretary on the Political Action Committee (PAC) and is a long time member of the Toronto Labour Council.

     Dan retired in 1984, and In 1985 he was asked by Lynn Williams to join the Steelworkers Organization of Active Retirees to represent District 6 on the International Executive Board where he still serves.

     In the late 80’s, District 6 asked Dan to join what is now called the Ontario Federation of union retirees (OFUR) where he is still a member of the Council.

     In the early 90’s, Dan was asked to represent the Steelworkers in the formation of the CLC retirement organization that would unite all the unions across Canada.  The founding convention was held in 1993 and the organization became “The Congress of Union Retirees” (CURC) and Dan was elected as 2nd Vice President.  In 2007 he became President.  He has recently retired from the Presidency and now holds the position of Immediate Past President.

Dan is now an Emeritus Member of SOAR.

SOAR More Important Than Ever

SOAR More Important Than Ever

Recently USW members in Massachusetts ended a six-month lockout at National Grid with pensions being one of the major issues. The company did not want to continue providing a defined-benefit pension plan for new hires. This scenario is becoming a more common issue affecting current and future retirees, as more often than not, despite skyrocketing profits, companies no longer want to provide benefits to their retirees – even after all their years of hard work and dedicated service.

I did some research on the Bureau of Labor Statistics (BLS) website to gather some information to better understand where this country stands on pensions. I was surprised to find out that according to the BLS in 2017 only 15 percent of private-sector workers participated in a defined-benefit pension plan and only 50 percent participated in ANY workplace retirement plan. Those numbers go up to 23 percent and 54 percent when you include state and local government workers. These numbers also show a continuing pattern of employers freezing or terminating defined-benefit pension plans for workers.

I raise this issue to bring the importance of preserving and improving what is for many, the primary source of income in retirement, Social Security. We in SOAR have been fighting for improvement in the way Social Security is funded by removing the cap on earnings and making sure any attempt to reduce benefits is met with strong resistance. 

Many of us in SOAR have less to worry about than the present generation of workers; unfortunately, the possibility of a comfortable retirement is no sure thing for them. That is why it is more important than ever before that the present workforce, if they haven’t already done so, consider the formation of a SOAR chapter in their area. The continued attack on retirement security must be confronted by those presently in SOAR and those who look forward to retirement in their future. 

SOAR Coordinators and Executive Board members must make themselves available to local unions in their area and let them know how important and valuable a SOAR chapter can be to them. 

This year let’s all make an effort to grow and improve SOAR in your respective areas and Districts.

Source: https://www.bls.gov

Bill Pienta, SOAR President

Keeping Our Guard Up

Keeping Our Guard Up 

While I believe that the stock market should not be the measure of how well we are doing in America, retirees who receive a pension should be concerned on the recent drop in the stock market. Downward movement in the market impacts the stability of the company pension fund and may require additional contributions to the fund which in turn impacts the financial stability of the company. The increase in the unfunded liability of pension funds in both private and public sectors is becoming an issue and one we should pay attention to.

On top of all the other issues, we need to pay attention to the fact that more and more states are claiming a hardship in their ability to maintain stability in their state-run pension funds. If the states ever begin to get relief from their obligation to properly maintain their pension funds, you can be sure that the private-sector employers will soon begin lobbying for relief from their pension obligations as well.

We need to make sure people understand that pensions are the workers way of saving for retirement. We have negotiated with employers that a piece of our wages is taken at a later time, when we retire, instead of being given to us now. This was a benefit to the employer who receives tax advantages by putting the money into a pension fund and to us by receiving a portion of our pay later in life. It is not simply their money they provide for a benefit, it is ours.

To all in the family of SOAR, I hope you enjoy a safe and happy holiday season and get ready of what may be a very active year for SOAR.

Bill Pienta, SOAR President

The Plight of Multiemployer Pension Plans

The Plight of Multiemployer Pension Plans

I refer to a portion of an article, “The Multiemployer Pension Crisis” by Aliya Wong, Executive Director of Retirement Policy at the U.S. Chamber of Commerce, recently published in The Hill, regarding the plight of multiemployer pension plans to help bring this issue to light:

Defined benefit pension plans have long been favored for retirement because they promise a guaranteed level of income. It’s a painless way for retirees to enjoy their golden years. That is, unless the plan goes bust.

Unfortunately, that’s the condition a number of pension plans are close to being in, particularly so-called “multiemployer” defined benefit plans. It is no exaggeration to say that these plans face a crisis. There is currently a shortfall of more than $124 billion in these plans. Roughly 1,141 of these plans, covering 1.3 million workers, face more than $36 billion in shortfalls and are likely to start going bankrupt in as little as five years.

One might think that employers in these plans could simply pay more to shore them up, but the amounts are so large that they could cause many employers to go into bankruptcy; not to mention, the government backstop for these plans – the Pension Benefit Guarantee Corporation (PBGC) – is itself predicted to go bust by 2025.

To address this issue, Congress has decided to establish a bipartisan committee tasked with drawing up legislation by the end of the year. The U.S. Chamber of Commerce and the National Coordination Committee for Multiemployer Plans (NCCMP) have issued a set of joint principles to aid the committee in its work.

Missing from this group are Labor Unions, whose members are the primary recipients of these benefits. 

Without substantive and timely multiemployer plan reform, businesses will go broke, workers will be left without benefits, and taxpayers may face a hefty bill. 

To read Ms. Wong’s article, in its entirety go to: http://thehill.com/blogs/congress-blog/labor/391953-the-multiemployer-pension-crisis

Bill Pienta, SOAR President

SOAR: A Lifetime of Activism

Report from the Alliance for American Manufacturing

Report from the Alliance for American Manufacturing

During his campaign, the President promised the American people he would implement tax reform, mitigate our unfair trade policies and begin a long-overdue process of repairing United States infrastructure needs.

A new tax policy has been enacted, and the President has taken major steps to change the landscape of unfair free trade by declaring tariffs of 25 percent on imported steel and 10 percent on imported aluminum. This is an ongoing process and it may be many months before we see a definitive result on trade rules.

But, the administration’s infrastructure plan has been left somewhere in a large pothole and will not be addressed until 2019. The President will have been in office for more than two years before even getting to first base on an infrastructure program.

Americans will get a more aggressive look at our failing infrastructure this summer during vacation travels by auto, train and airplane. And these are just the transportation components of our infrastructure.

The one main issue that both Republicans and Democrats agree upon is the dire need to invest in America’s crumbling infrastructure.

Making a major investment in infrastructure would provide a substantial boost to our economy and create jobs especially if Buy America preferences are applied, which the President also pledged he would implement.

A 2014 report by Duke University researchers estimated that a long-term transportation bill worth $114 billion annually would create 2.5 million new jobs.  Since moving into the White House, the President  could have already created more than 900,000 jobs and produced a much healthier economy, if he would have seriously addressed an infrastructure program during his first few months in office.

The next time the President travels to one of his many luxurious golf courses, he should travel by car, train or commercial airline. He would then get a first-hand look at why he needs to quickly try to make America’s infrastructure something he can be as proud of as he is of his many, well-manicured and heavily-funded country clubs.

Jeff Bonior, Staff Writer for the Alliance for American Manufacturing