26 Jun

Jack Rasmus

Introductory Comments: The following article was written for the US-wide unionists group, the Emergency Labor Network, as one of its position statements. A more in depth analysis of the same topic is available on this writer’s website, http://www.kyklosproductions.com, (see ‘articles toolbar tab on the webpage) and accessible from the sidebar of this blog.

A pension crisis of major dimensions is growing in the US across all three forms of defined benefit plans (DBPs)—public, private single employer, and private multi-employer plans.

Corporate America and its political friends have begun to use the economic crisis that commenced in 2007 as an opportunity to initiate and expand yet another offensive aimed at further undermining defined benefit pensions in the U.S. Having already begun in 2009-10 with a new attack by governors on public employees’ pension plans, the Corporate Offensive over the subsequent eighteen months has expanded to include new coordinated attacks on private…

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