Pension holders continue to fight as deadline approaches - Hometownstations.com-WLIO- Lima, OH News Weather Sports

Pension holders continue to fight as deadline approaches

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The Central State Pension holders held a meeting to talk about an ongoing fight to protect a large number of their pensions from being lost. The Central State Pension holders held a meeting to talk about an ongoing fight to protect a large number of their pensions from being lost.
Representatives from Senator Brown and Senator Portman were on hand to talk to the pension holders and take their concerns back to Washington as the committee works on a solution before the November 30th deadline. Representatives from Senator Brown and Senator Portman were on hand to talk to the pension holders and take their concerns back to Washington as the committee works on a solution before the November 30th deadline.

It's crunch time for U.S. Senators and Congressmen to come up with a solution so that 1.5 million Americans don't lose a large number of their pensions.

The Central State Pension holders held a meeting to talk about an ongoing fight to protect a large number of their pensions from being lost. Over four years ago, Washington lawmakers passed a bill that removed the pension protections, and people receiving the pensions got a notice that their checks will be cut in half or more. At the beginning of this year, Senator Sherrod Brown and Senator Rob Portman, along with other bipartisan members of Congress, formed a committee to find a solution to this problem by the end of November. If an agreement can't be reached, the members of the Central State Pension Fund will be just the start of millions of other union members losing half or more of their pensions.

“1.5 million people that would be affected within the first year. Then there are 10 million people in multi-employer plans and the contagion effect would take over, which would collapse the entire multi-employer pension system. I mean that’s how big it is, you're talking a trillion dollars every year that the multi-employer pension system puts into the GDP,” said Bernie Anderson, Retired, Teamster Local 200. 

Representatives from Senator Brown and Senator Portman were on hand to talk to the pension holders and take their concerns back to Washington as the committee works on a solution before the November 30th deadline.

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