Last week the IAM participated in a news conference in Washington, D.C. supporting the “Keep Our Pensions Promises Act.” The Act, introduced by Senator Bernie Sanders (I-VT) in the Senate and Marcy Kaptur (D-OH) in the House, restores the ban on cutting pension benefits for retired Americans in “deeply troubled” multi-employer pensions. The GOP-controlled Congress removed the ban in 2014.
Click here to watch a video about “The Fight for Full Pensions.”
The IAM’s National Pension Fund is fully-funded and its retirees are not part of the “deeply troubled” pension plan participants who are facing cuts. However, the GOP-passed legislation in 2014 sets a dangerous precedent for retirees in any traditional pension plan.