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"The fight is never about grapes or lettuce. It is always about people." Cesar Chavez |
:: Sunday, May 25, 2003 ::
Labor Notes - UAW Advocates Lower Pension Fund Contributions The United Auto Workers are backing a bill that would allow blue-collar companies to pay less into their pension funds than those which employ mostly white-collar workers. The reason? Blue-collar workers tend to die younger.
Said UAW President Ron Gettelfinger in a letter to the New York Times, "We see no reason additional demographic data should not be added to the mix of factors necessary to develop an actuarially sound pension plan."
The Big Three auto companies' pension plans are currently underfunded to the tune of $15-20 billion total. Under current rules, the companies will be required to make huge contributions to their funds some time in the next few years.------------------------------------------- posted 8:34 AM :: reference link ::
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