Michigan Labor & Employment Law Blog
Posts from February 2017.
In the first of its kind, members of an international construction union voted to make drastic cuts in their already earned pensions. Members of Local Ironworkers 17 in Cleveland, Ohio approved serious cuts in January of this year to their pension plan. It was the first time ever the employees of a multi-employer pension fund had ever conducted such a vote, let alone voted to cut their own benefits. There are over 2,000 plan participants and while less than half actually voted, two-thirds of the votes did vote in favor of the cuts.
