CHECK YOUR UBC LM2 TO SEE THE $25,000 PAYMENTS TO THE NCCMP
The Commission has been meeting since 2012 without the knowledge or consent of the 10 million pension plan participants that may suffer the consequences of these proposed changes.
INTERNATIONAL UNION LEADERS ARE ATTACKING THE PENSIONS OF ALL RETIRED WORKERS UNION OR NOT. IN AN ATTEMPT TO COVER FOR THEIR MISMANAGEMENT OF FUNDS,BREACH OF DUE DILIGENCE AND FIDUCIARY DUTY AND THE SHEAR RAPE OF THEIR MEMBERSHIP. AS THEY PETITION THE GOVERNMENT TO ALLOW THEM TO CHANGE ERISA LAW SO THEY CAN STEAL BACK THE PENSIONS OF THEIR MEMBERS THEY CONTINUE TO COLLECT 500,000 SALARIES.TAKE TRIPS TO EXOTIC PLACES AND COLLECT DOUBLE AND TRIPLE PENSIONS.
KNOW YOUR ENEMIES
WHO ARE THESE CARPETBAGGERS??http://www.nccmp.org/
Sean McGarvey, Chairman
Walter Wise, Secretary
William P. Hite, Treasurer
Members of the Board:
|Sean McGarvey, President, Building and Construction Trades Department, AFL-CIO|
|Christopher Brockmeyer, Director of Employee Benefit Funds, The Broadway League|
|Jeffrey Green, Topping Out, Inc. / Davis Erection Company|
|Joseph T. Hansen, President, UFCW|
|Mary Kay Henry, President, Service Employees International Union|
|Edwin D. Hill, President, International Brotherhood of Electrical Workers|
|William P. Hite, General President of the United Association of Journeymen and Apprentices of the Plumbing and Pipe Fitting Industry of the United States and Canada|
|James P. Hoffa, General President, International Brotherhood of Teamsters|
|John McNerney, General Counsel, Mechanical Contractors Association of America|
|John "Rocky" S. Miller, Jr., Cox, Castle & Nicholson|
|Joseph J. Nigro, General President, Sheet Metal Workers' International Association|
|Terence M. O'Sullivan, President, Laborers' International Union of North America|
Plan to Cut Pensions Coming to Congress
The proposal from the National Coordinating Committee of Multi-Employer Plans (NCCMP) is to allow plans to cut existing pensions to 10 percent over the Pension Benefit Guaranty Corporation (PBGC) limit of about $1,100 per month.
The stated purpose of NCCMP , a “Non Profit Trade group”, is to advocate for the financial planning industry, and advise Congress as to changes needed to current retirement law. The changes in law that the NCCMP now recommends stands in sharp contrast to their previous position where they stated that “defined benefit pensions are the only reliable mechanism to ensure lifetime income protection”. As the ERISA law“sunsets” this year, the NCCMP proposes to end “the only reliable mechanism” and replace it with one less reliable and that pays lower benefits. Their proposal shifts investment risk from the employers to the workers. Their Motive in doing what they consider best for plan participants should be questioned.The Board members of the NCCMP in 2011, created The Retirement Security Review Commission, (the Commission). The Commission was to advise Congress on changes to the current ERISA law. The Commission produced a document, “SOLUTIONS NOT BAILOUTS A Comprehensive Plan from Business and Labor to Safeguard Multiemployer Retirement Security, Protect Taxpayers and Spur Economic Growth”. The full document is found at the www.nccmp.org website. I encourage you to read this document and explore the web site, note who is on their Board of Directors.
A CONFLICT OF INTEREST AND A STAB IN THE BACK OF THE RETIREES
CONTACT Fred Smith 503 281 2600 email@example.com