Sen. Schumer, Teamsters Push for Bill to Cover Pensions

2018-01-10T14:19:26-08:00January 10th, 2018|Categories: Pension Funding|Tags: , , |

Sen. Chuck Schumer and Rep. Peter King joined Long Island Teamsters Jan. 2 in calling for union pension shortfalls to be funded through Treasury bonds tied to the federal budget. Schumer (D-N.Y.) and King (R-Seaford) are pushing Congress to pass the Butch Lewis Act, which would create a new office within the Treasury Department to allow pension plans to borrow for any shortfall using Treasury bonds issued by the government to sell to financial institutions. […]