Sen. Cassidy Introduces New Legislation Targeting Organizing by Unions with Underfunded Pensions
Senate Health, Education, Labor, and Pensions Committee Ranking Member Bill Cassidy (R-LA) introduced the Making All Fund Information Available Act, legislation that would require a union with a pension fund to provide information to potential members detailing the financial state of the fund and whether the fund is able to pay out full benefits as promised. The legislation further provides that if the plan is underfunded, union organizers must disclose details on exact benefits and explain how employer contributions will be allocated. Finally, the bill requires unions to cover costs for an independent financial advisor to assist potential recruits in better understanding their benefits.
The text of the bill is available here.
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