Article

2022-12-09 Government Corruption

President Biden giving nearly $36 billion to aid Teamsters' pension fund, with 25,000 participants in Illinois

It’s nice to be connected.

[Chicago Tribune] President Joe Biden on Thursday is announcing the infusion of nearly $36 billion to shore up a financially troubled union pension plan, preventing severe cuts to the retirement incomes of more than 350,000 Teamsters workers and retirees across the United States.

The money for the Central States Pension Fund is the largest amount of federal aid provided for a pension plan, the Biden administration said, and comes from the American Rescue Plan, a $1.9 trillion coronavirus relief package that he signed into law in 2021.

Many union retirement plans have been under financial pressure because of underfunding and other issues. Without the federal assistance, Teamsters members could have seen their benefits reduced by an average of 60% starting within a couple of years.

Posted by Besoeker 2022-12-09 01:41|| || Front Page|| [11135 views ] Top

#1 Forget the Constitution and Congressional funding authorizations, this is COVID plandemic money. Political constituents must be paid !

(sarc off)

Posted by Besoeker 2022-12-09 01:45|| 2022-12-09 01:45|| Front Page Top

#2 The death benefits need a boost.

Posted by Jimmy Hoffa 2022-12-09 03:46|| 2022-12-09 03:46|| Front Page Top

#3 100%. And we still have a Fauci Flu emergency and any dough that goes with it. Joe said so (after saying the pandemic was over on 60 Minutes).

Posted by DooDahMan 2022-12-09 07:15|| 2022-12-09 07:15|| Front Page Top

#4 Considering where the Teamster pension money went in the first place, this is a bail-out to organized crime.

Posted by M. Murcek 2022-12-09 07:16|| 2022-12-09 07:16|| Front Page Top

#5 Without even reading the article or any details, you just knew Illinois was in the thick of this.

Posted by DooDahMan 2022-12-09 07:17|| 2022-12-09 07:17|| Front Page Top

#6 Interesting article from a couple of years ago by Elizabeth Bauer at Forbes regarding the Central States Fund.

Posted by Mullah Richard 2022-12-09 07:27|| 2022-12-09 07:27|| Front Page Top

#7 So, when the fuck is this degenerate gonna cut me a cheque?

Posted by Chris 2022-12-09 10:57|| 2022-12-09 10:57|| Front Page Top

#8 The money for the Central States Pension Fund is the largest amount of federal aid provided for a pension plan, the Biden administration said, and comes from the American Rescue Plan, a $1.9 trillion coronavirus relief package that he signed into law in 2021.

I mean, we all knew it would just be a huge slush fund, right? Just another way for Democrats to buy votes with money from the ~~rubes~~ taxpayers.

Posted by Abu Uluque 2022-12-09 12:30|| 2022-12-09 12:30|| Front Page Top

#9 The checks will be cut until we are all holding Monopoly money. The pop-metal icon pieces will be worth more than our cash.

Posted by Super Hose 2022-12-09 12:35|| 2022-12-09 12:35|| Front Page Top

#10 But no food for babies. Still.

Baby formula shortage will continue to wreak havoc on families in new year: ‘I’m beyond struggling’

Posted by Skidmark 2022-12-09 13:16|| 2022-12-09 13:16|| Front Page Top

#11 Teamsters, didn't they man the ballot curing operations in Las Vegas and elsewhere? My figures suggest the Puppet Show is giving the pension funds over $100,000 PER MEMBER as a bailout! Coincidence?

Posted by NoMoreBS 2022-12-09 15:40|| 2022-12-09 15:40|| Front Page Top

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