Archive for the ‘unions’ Category

MARP (12) Compensation Limits

Among the Title III Plan Governance proposals in the Technical Explanation of the Multiemployer Pension Recapitalization and Reform Plan (MARP) is this curious reform:

Under the proposal, multiemployer plans that have successfully partitioned are subject to a 21-percent excise tax on any remuneration in excess of $500,000 paid to covered employees (e.g.,the five highest compensated employees) of the Original Plan and the Successor Plan, for as long as the either the Original or Successor plan remains in Endangered or lower funding status under the revised zone-status rules. The excise tax is calculated in the same manner as under Section 4960 of the Code.

Who could be impacted by this cap?

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MARP (11) Union Response

I am now through the first two Titles in the Technical Explanation of the Multiemployer Pension Recapitalization and Reform Plan (MARP) and so are some other people.

Cowden did their own comparison of proposed changes and the AFL-CIO has their take:

The AFL-CIO’s pension panel has roundly condemned proposals made by two leading Senate Republicans to shore up the nation’s endangered multiemployer pension funds that would cut benefits by up to 19%.

The federation’s Retirement Security Working Group said Dec. 2 that the proposals contained in a white paper released Nov. 20 by Finance Committee chair Charles Grassley (R-Iowa) and Sen. Lamar Alexander (R-Tenn.), chair of the Health, Education, Labor and Pensions Committee “will not only injure the retirees and active participants it purports to help, it also will precipitate the collapse of all multiemployer pension plans.”

Then there’s that other sticking point:

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Bubble Boy Town Hall (1) NJEA Payoff

Bubble Boy is what came to mind driving back from a Phil Murphy Town Hall which looked designed to keep him insulated from real issues as it was broken down into:

  1. 15 minutes of introductory remarks,
  2. 35 minute stump speech, and
  3. 20 minutes of pre-screened questions including this one:

Granted tougher than anything Steve Adubato would think of asking but still not what someone considering a move to New Hampshire wants answered.

The full Murphy segment of the Town Hall is at the bottom here and I will get to much of it in future blogs to justify my ‘bubble boy’ appellation.

To start, here is the red meat thrown to the New Jersey Education Association (NJEA):
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Union Propaganda Backfire

New Jersey Policy Perspective (NJPP) is a union-backed advocacy group commissioned to come up with what the unions believe will be reports that help their cause.

In 2014 they came out with a report (easily refuted) that claimed “New Jersey ranks close to last for overall pension benefit generosity, at 95th out of 100, in part because of cuts enacted in the pension reforms of 2011.”

Last week they cam out with a brief (easily refuted) detailing a “wage gap” between New Jersey teachers and private-sector workers.

Of course NJPP are free to repay their donors by whatever means but the possibility exists that some idiot will take this propaganda seriously and, if they happen to be a teacher covered by a union, what are they supposed to think?

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NJEA Wastes Murphy

Why go to the trouble of buying politicians when you don’t know how to use them?

That’s what struck me after reading David Wildstein’s blog this morning:

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NJEA Dues Clues

My local news sources occasionally cover the activities of the New Jersey Education Association (NJEA) though not too critically as for some of them the NJEA is a primary (if not sole) sponsor:

which today led off with mentions of a (no NJEA ads visible there) story on the millions of dollars that the NJEA spent on Governor Murphy through a ‘dark money’ PAC.

This got me to wondering how and how much the NJEA comes up with to buy a governor and web ads. This is what I have so far:

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NJ Governor Can’t See Savings

New Jersey Governor Phil Murphy in making media appearances to build up suspense about what he will do with the FY20 budget was asked a real question on CNBC about cutting benefits for future public employees and he donned his NJEA spokesman hat to give one of the more bizarre justifications for his toadyism:

Think about what he just said (in between the ramblings) on what happens when you promise someone less:

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