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EFCA and union pension plans



Among the unstable aspects of the current labor scene: many union-sponsored pension plans (so-called "multiemployer" plans, paid into by many employers in a unionized industry) are badly underwater, seriously short of the assets they need to pay promised pensions. The hope in some quarters is that a rush of new union organization made possible by EFCA will stabllize these plans by adding many new employer-contributors. For any particular employer facing an organizing drive, however, the prospect is unsettling at best: a successful "card check" signup (followed if necessary by a federally selected arbitrator's imposition of a first union contract) will require the company to start contributing not only on behalf of its own workers, but also to cover the shortfalls left by other employers, including some that are departed or defunct. Manhattan Institute fellow Diana Furchtgott-Roth explains at Real Clear Politics. More: ShopFloor and followup, CEI "Open Market".

 

 


Isaac Gorodetski
Project Manager,
Center for Legal Policy at the
Manhattan Institute
igorodetski@manhattan-institute.org

Katherine Lazarski
Press Officer,
Manhattan Institute
klazarski@manhattan-institute.org

 

Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.