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Teamsters, UNITE HERE Partner to Protect Pensions
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 Aug. 2, 2022 | WORKERS’ RIGHTS | In response to private equity’s growing encroachment into the retirement services industry, the International Brotherhood of Teamsters and UNITE HERE have announced an alliance to strengthen the protection of pension benefits. The two unions cited the recent multi-billion-dollar pension buyout deals by Apollo Global Management’s (NYSE: APO) Athene subsidiary as the spark for the new alliance. The two labor organizations plan to advocate for more state and federal oversight of group annuity providers. Of particular concern are risk transfers. The Teamsters and UNITE HERE are concerned that workers’ retirement assets are being moved into complex financial structures that lack transparency. Labor Press
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