Whose To Blame For Not Being Able To Retire

By: Joe Hamilton
By: Joe Hamilton

At least not for some local workers who learned that their pension benefits won't be able to support them. Last week, some members of Teamsters Local 325 learned that problems with their pensions meant working longer before retiring. So Sunday morning, they met to try to get some answers on why their pensions are cut.

Truck drivers around the country have learned that the pension they have worked for their entire lives is losing money. Many local drivers now can't afford to retire. During a meeting Sunday morning, they tried to find out why. And many believe that their own union may be to blame.

But local union leaders say that the economy and the down turn in the stock market caused their pension fund to lose value, and cuts made to employee pensions were vital to keep the benefits solvent. It was necessary.

But local labor experts believe that union members were deceived by union officials about just how well their benefits were doing. If they did, some drivers say they would have made concessions in order to save.

So now drivers will have to look forward to more time behind the wheel instead of driving sooner on the road to retirement.

Union members were to retire after 30 years of service with a three thousand dollar monthly pension. But now with cuts made to retirement benefits some drivers will have to work an additional ten years to receive that same benefit income.


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