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August 10, 2022

On This Day in 1981
Some 15,000 air traffic controllers strike. President Reagan threatens to fire any who do not return to work within 48 hours, saying they “have forfeited their jobs” if they do not. Most stay out and are fired Aug. 5.  
~ Labor Tribune

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15,000 Western Pa. Teamsters’ Pension Benefits Restored
Posted On: Jul 28, 2022
July 28, 2022 | PENSIONS | Pension benefits were restored for some 15,000 people covered by the Western Pennsylvania Teamsters and Employers Pension Plan after a federal government bailout of the plan that was announced Monday. On average, Teamster pension benefits were cut 20% in 2019 to stave off plan insolvency, which was forecast for 2025. The Pension Benefit Guaranty Corporation fully restored the retirement benefits, starting from the time the cuts were imposed. The American Rescue Plan Act of 2021 — which funded the pension bailout and targeted a number of industries for financial support, including hospitals and local government agencies — also propped up severely underfunded multiemployer pension plans. Pittsburgh Post-Gazette  PHOTO/ADOBE STOCK
Teamsters Local 355
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