Schumer pushes legislation to protect thousands of CNYers facing pension cuts
SYRACUSE, N.Y. -- U.S. Sen. Charles Schumer is fighting for Teamsters from Central New York and thousands more across the state and country who have suffered pension cuts and are at a risk of losing more of their retirements savings.
The New York State Teamsters Conference Pension Fund was supposed to pay out an average of $5,000 per month for a retiree with 30 years of service, but earlier this year retirees found that their pension payments would be cut by about 30 percent.
Schumer, D-N.Y., spoke with dozens of members of Teamster Local 317 in Syracuse Wednesday afternoon about proposed legislation that would avoid additional pension cuts in the future and possible reverse past cuts.
Al and Carol Meagley, of Syracuse, are just one of the 7,000 Local 317 retirees that has been hit hard by the cut. They have lost $1,000 a month since the cut went through in September.
Read more: http://www.syracuse.com/news/index.ssf/2017/11/schumer_seeks_legisltation_to_help_thousands_of_cnyers_facing_pension_cuts.html