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From company hired to kill W. WA Carpenter pensions

These excerpts come from the public reports by the company paid by the Carpenters union to replace West WA pensions to move liability from employers to employees. Please share to as many carpenters as you can! This is likely  a part of a national push by Las Vegas and the employers.

Milliman is the billion dollar multinational actuarial and consulting firm hired to replace Western Washington and South Alaska carpenters pensions with a retirement plan that shifts liability from employers to employees. It is not known yet how much the Carpenters union is paying Milliman, but Milliman’s reports suggest they have been working for the carpenters union at least since 2014.

Because of this ongoing crisis there have been a number of unofficial carpenter meetings organized to discuss the pension and how to fight it. There is a rally planned for Westlake Park on October 19th 5pm. Please spread the word! This is your money!

[Edit: added source links from Milliman:]

Stabilized Variable Annuity Pension Plans (VAPPs)
Making the case for variable annuity pension plans (VAPPs): Basic VAPP benefits and design strengths
Multiemployer pension plan redesign

Case study: Communicating the transition to a Milliman Sustainable Income Plan (SIP)

IRS issues final hybrid plan regulations with variable annuity pension plan implications

 

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