“Inevitable Taxpayer-Funded Bailout” As Angry Teamsters Watch Their Pensions Go Bankrupt
Tyler Durden
May 13th, 2016
SHTFPlan.com
This article was written by Tyler Durden and originally published at Zero Hedge.
Editor’s Comment: As baby boomers retire, large union groups are watching as their pensions go unstable, and they beg the government for help. Only, there isn’t and never will be enough to go around. Though the pension was mismanaged, even theft was from the public purse won’t be enough to stop the pain that will come when millions realize that their retirement money isn’t there, and other other benefits may be just as uncertain.
As Teamster truckers demand financial assistance, another huge question looms, unaddressed: What happens when driverless trucking kills the industry altogether, and millions of drivers are out of work with nothing better in sight? What jobs shall come, as technology displaces entire industries overnight, and people become more desperate than anytime that any of us have been alive?
Here Come A Lot Of Angry Teamsters: One Of America’s Largest Pension Funds Demands A Taxpayer Bailout
by Tyler Durden
Over the past few months, we have covered the unfolding saga (here and here) of the Central States Pension Fund, which handles retirement benefits for current and former Teamster union truck drivers across various states including Texas, Michigan, Wisconsin, Missouri, New York, and Minnesota, and is one of the largest pension funds in the nation, all the way through Kenneth Feinberg’s rejection of the proposal to cut benefits on behalf of the Treasury.
The Rest…HERE
