Season 3, Episode 248

American Rescue Plan prevented a 60 percent cut to Teamster pensions

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Guest Name:


Richard Fiesta

Guest Website:


https://retiredamericans.org/

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Supportive Documents:


The Alliance for Retired Americans Executive Director Richard Fiesta joined the America’s Work Force Union Podcast and explained how the America Rescue Plan prevented a 60 percent cut to Teamster pensions.

While private pensions are federally insured up to a point, many multi-employer funds, including the Teamsters Central States Pension Fund, did not have enough money to meet their obligations, Fiesta said. This was due to fewer employers participating in the funds and lower interest rates that hampered fund investments, he noted. Fiesta then explained the role the Alliance played in conjunction with the AFL-CIO to get the legislation passed.

Fiesta also talked about potential threats to Social Security under a Republican-controlled U.S. House.

Listen to the entire episode to learn more about these topics:


America’s Work Force is the only daily labor podcast in the US and has been on the air since 1993, supplying listeners with useful, relevant input into their daily lives through fact-finding features, in-depth interviews, informative news segments and practical consumer reports. America’s Work Force is committed to providing an accessible venue in which America's workers and their families can hear discussion on important, relevant topics such as employment, healthcare, legislative action, labor-management relations, corporate practices, finances, local and national politics, consumer reports and labor issues.

America’s Work Force Union Podcast is brought to you in part by our sponsors: AFL-CIO, American Federation of Government Employees, American Federation of Musicians Local 4, Alliance for American Manufacturing, Anthem Blue Cross Blue Shield, Brotherhood of Maintenance of Way Employes-IBT, Boyd Watterson, Columbus/Central Ohio Building and Construction Trades Council, Communication Workers of America, Mechanical Insulators Labor Management Cooperative Trust, International Association of Heat and Frost Insulators and Allied Workers Local 50, International Federation of Professional and Technical Engineers, International Union of Bricklayers and Allied Crafts, International Union of Painters and Allied Trades District Council 6, Ironworkers Great Lakes District Council, Melwood, The Labor Citizen newspaper, Laborers International Union of North America, The National Labor Office of Blue Cross and Blue Shield, North Coast Area Labor Federation, Ohio Federation of Teachers, United Labor Agency, United Steelworkers.

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