Comments on: Construction Union Pension Plans and Project Labor Agreements http://thetruthaboutplas.com/2009/09/11/construction-union-pension-plans-and-project-labor-agreements/ Educating the public, elected officials, taxpayers and the construction industry about wasteful and inefficient project labor agreements (PLAs). Fri, 18 May 2012 16:20:53 +0000 hourly 1 By: BenBrubeck http://thetruthaboutplas.com/2009/09/11/construction-union-pension-plans-and-project-labor-agreements/comment-page-1/#comment-1525 BenBrubeck Fri, 18 Jun 2010 15:15:16 +0000 http://www.thetruthaboutplas.com/?p=1065#comment-1525 Chris- You should check out the 401(k) and profit sharing plans offered by open shop contractors. They are great plans and give employees the power to control their own retirement destiny. Many white collar workers rely on these types of plans outside of the construction industry and have their retirement plan under control. Sure they go up and down with the market, but so do the investments that deliver interest for union pension plans. You should look into the health and status of your multi-employer pension plan by requesting a statement from your local union. Many of them are underfunded and there is a chance you will only receive about $12K a year if they are taken over by the PGBC. The union pension plans in the construction industry are broken financial product and really need to be shelved in favor of individual accounts that rank and file members can manage. Chris- You should check out the 401(k) and profit sharing plans offered by open shop contractors. They are great plans and give employees the power to control their own retirement destiny. Many white collar workers rely on these types of plans outside of the construction industry and have their retirement plan under control. Sure they go up and down with the market, but so do the investments that deliver interest for union pension plans.

You should look into the health and status of your multi-employer pension plan by requesting a statement from your local union. Many of them are underfunded and there is a chance you will only receive about $12K a year if they are taken over by the PGBC. The union pension plans in the construction industry are broken financial product and really need to be shelved in favor of individual accounts that rank and file members can manage.

]]> By: chris http://thetruthaboutplas.com/2009/09/11/construction-union-pension-plans-and-project-labor-agreements/comment-page-1/#comment-1520 chris Fri, 18 Jun 2010 01:25:55 +0000 http://www.thetruthaboutplas.com/?p=1065#comment-1520 thats because the pension plan you would get as a non union construction worker is nothing. you couldnt survive on it. thats because the pension plan you would get as a non union construction worker is nothing. you couldnt survive on it.

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