Union pension underfunding is bankrupting this government entity

Rachel Greszler  |  August 13, 2019

“… federal law requires that private companies with their own, single-employer pension plans follow specific rules and financial assumptions to ensure they set aside enough money to cover their promised benefits. State and local government pensions are exempt from these rules because they are sovereign entities with regard to their own employees’ pensions. Multiemployer pension plans are exempt from these rules because powerful unions successfully lobbied Congress for special treatment.” 

Read the full article on: The Washington Times

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