Union Workers May Be Facing Massive Cuts To Their Pensions
The Central States Pension Fund may be in for some significant cuts, which will have a huge impact on the pensions of more than 6-thousand Iowans.
Officials say the Central States Pension Fund is expected to go bankrupt within the next 10 years, leaving union workers at risk of having their pensions cut up to 70% each month.
Union members will have a chance to vote against the proposed cuts sometime before July. Senator Chuck Grassley has opened an investigation into the issue.