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Showing blog posts tagged with retirement security

MLB Owners Foul Ball on Worker Pensions

Photo by peterjr1961/Filckr

What comes to mind when you think about Major League Baseball (MLB)? Multimillion-dollar ball players and even multier-million-dollar owners? Shiny new stadiums with $300 luxury VIP seating and $10 beers and $8 hot dogs for those of us in the bleachers? The $6 billion Fox Sports/Los Angeles Dodgers TV deal and others like it?

While MLB seems to be printing money faster than Topps prints baseball cards, ESPN New York reports that the club owners are considering eliminating pensions for the everyday, regular folk employees who work behind the scenes to keep the glitter dome running—club employees from office workers to trainers to minor league coaches and staff to scouts.

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It’s Greed, Pure and Simple

Berry Craig, recording secretary for the Paducah-based Western Kentucky AFL-CIO Area Council and a professor of history at West Kentucky Community and Technical College, is a former daily newspaper and Associated Press columnist and currently a member of AFT Local 1360. Craig sends us this.

Showing solidarity with our union brothers and sisters is a great way for us to ring in the New Year, says Jim Key, vice president at large of United Steelworkers (USW) Local 550 in Paducah, Ky. Key, also his local's legislative and political chairman, is asking union members and union supporters nationwide to take a minute to put their John Hancock on a White House cyber-petition against corporations that file for bankruptcy “to circumvent their liabilities for workers' pensions and post-retirement health care benefits.” (Click here to sign the petition.)

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'Fix the Debt' CEOs Sit on Massive Retirement Funds While Pushing for Retirement Cuts for Working Families

Photo courtesy Talk Radio News Service

We have five weeks to tell Congress to let the Bush tax cuts for the richest 2% expire and reject any benefit cuts to Social Security, Medicare and Medicaid. Visit www.aflcio.org/ProtectOurFuture for all the information you need on the upcoming budget showdown. 

A new report from the Institute for Policy Studies shows that the CEOs who make up the "Fix the Debt" campaign sit on massive retirement funds of their own while calling for the retirement programs that working families rely on to be cut as part of a deficit-reduction package. Furthermore, those same CEOs have been shortchanging pension funds for working families at the corporations they run.

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Health Coverage for Retirees Continues Decline

A new report on retiree health care reinforces the need to maintain the Affordable Care Act—not repeal it, as presidential candidate Mitt Romney vows to do—and strengthen Medicare by rejecting “coupon care” private system proposals like the Romney-Ryan plan.   

The Employee Benefit Research Institute (EBRI) report, “Employment-Based Retiree Health Benefits: Trends in Access and Coverage, 1997‒2010,” quantifies what we all know, fewer employers are offering health care benefits to their retirees—both early retirees and those Medicare-eligible at 65—and those that do are raising the cost to retirees.

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Where Did All Our Pensions Go?

The Betrayal of the American Dream

A total of 84,350 pension plans have vanished since 1985. This figure shocked Pulitzer Prize-winning authors Donald L. Barlett and James W. Steele, who just released their latest book, "The Betrayal of the American Dream." Their chapter on retirement chronicles the heist of the American dream's secure retirement by the financial elite and is a very important section of the book, says Steele, who spoke with the AFL-CIO about the retirement crisis. Steele says there's another number we should pay attention to: $17,686. That's the median value of 401(k) accounts in 2011. For most working people, the amount in their 401(k) account would pay them less than $80 a month for life.

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With Safety at Stake, NFL Players Call for End to the Referees' Lockout

Photo MattBritt00/Flickr

Any fan of the NFL who has watched the season unfold with replacement officials because the league has locked out the skilled and veteran officials knows calls are being missed or called incorrectly and the replacements have a tenuous control of each game. But even worse, say the players, their safety is at stake.

In a letter to team owners urging an end to the lockout of the referees, the Executive Committee of the NFL Players Association writes:

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Bad Jobs on the Rise

Nearly one-quarter of America’s workers are in bad jobs—and the number is climbing, according to a new report by the Center for Economic and Policy Research (CEPR). “Bad Jobs on the Rise” defines a bad job as one that pays less than $37,000 a year—the inflation-adjusted earnings of a typical male worker in 1979—and offers no health insurance or retirement plan (click on chart to enlarge).

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Barbara J. Easterling: We Must Educate Younger People About Unions

Barbara J. Easterling is president of the Alliance for Retired Americans. She was previously the secretary-treasurer of the Communications Workers of America.

Barbara J. Easterling is president of the Alliance for Retired Americans. She was previously the secretary-treasurer of the Communications Workers of America.  

As we near Labor Day, I want to encourage you to help younger generations better understand why labor unions are so important. Too many people either know very little about unions or only know what politicians and Fox News tell them.

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Alliance Launches ‘Let’s Not Be the Last Generation to Retire' Campaign

Social Security, Medicare and Medicaid are under attack by Republican lawmakers. Whether it is the Romney/Ryan budget that would end Medicare as we know it or proposals to privatize and cut Social Security, members of the Alliance for Retired Americans are pushing back and mobilizing with new “Let’s Not Be the Last Generation to Retire” campaign. Actions across the country will coincide with Medicare’s and Medicaid’s 47th anniversary July 30 and Social Security’s 77th on Aug. 14.

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The 99 Percent Solution to the Retirement Security Crisis

The Washington Post recently ran a lengthy article explaining the difficulties Americans face in providing for a secure retirement, as traditional pension plans become less common and 401(k) savings accounts prove to be frighteningly inadequate.

But AFL-CIO President Richard Trumka points out that this whole discussion about retirement security fails to mention an obvious solution staring at us right in the face. It’s called Social Security.

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