Schumer, King support bill to restore slashed pensions

<p>Two Long Island congressmen are pushing a plan to restore pensions for some local union workers who lost them.&nbsp;</p>

News 12 Staff

Jan 3, 2018, 3:13 AM

Updated 2,314 days ago

Share:

Two Long Island congressmen are pushing a plan to restore pensions for some local union workers who lost them.
"You work 45 years, you work all your life, and all of a sudden they tell you there's no money -- and you don't understand how that could be," says Robert Barna, a Teamster who tells News 12 his pension was recently cut by 33 percent. "I never thought I would live to see where I would be living paycheck to paycheck."
There are two reasons for the cut: the 2008 economic downturn and a decline in active Teamsters Union drivers paying into the pension system.
Sen. Charles Schumer, a Democrat, and Rep. Peter King, a Republican, say they both back a bill that would allow the Treasury Department to issue bonds that can be used to fund the collapsing pensions. The bill is estimated to boost the pensions of 4,500 Long Island families.
"These are middle-income people who broke their backs all their lives, and now they're in the retirement years," King says. "And they're losing their pensions."
He says the pension bill has a good chance of passing if it becomes part of a larger budget bill.


More from News 12
2:06
Paterson homeowner says an abandoned home nearby is causing health, safety issues for his family

Paterson homeowner says an abandoned home nearby is causing health, safety issues for his family

1:53
Cloudy with passing showers for Monday in New Jersey

Cloudy with passing showers for Monday in New Jersey

0:28
Prosecutors: Discarded smoking material blamed for Lakewood fire that sent 3 to hospital

Prosecutors: Discarded smoking material blamed for Lakewood fire that sent 3 to hospital

1:13
Rainy Sunday impacts businesses on Cinco De Mayo

Rainy Sunday impacts businesses on Cinco De Mayo

0:55
Iconic Paterson hot dog stand Libby's Lunch sold at auction

Iconic Paterson hot dog stand Libby's Lunch sold at auction

1:50
Curfew enforcement for kids under 17 now in effect in Newark

Curfew enforcement for kids under 17 now in effect in Newark

1:11
Injury at Morristown NJ Transit station leads to train service delays

Injury at Morristown NJ Transit station leads to train service delays

2:06
New guidance says women need to be screened for breast cancer at 40 or younger

New guidance says women need to be screened for breast cancer at 40 or younger

3:01
 All I-95 lanes in Norwalk reopen one day after overpass demolition

All I-95 lanes in Norwalk reopen one day after overpass demolition

1:46
Officials: Man killed in house explosion in South River identified as retired Newark officer

Officials: Man killed in house explosion in South River identified as retired Newark officer

0:42
NJ lawmakers criticize how Rutgers officials negotiated with pro-Palestinian protesters

NJ lawmakers criticize how Rutgers officials negotiated with pro-Palestinian protesters

0:28
Special election to be held to fill late Rep. Donald Payne’s seat in Congress

Special election to be held to fill late Rep. Donald Payne’s seat in Congress

0:42
Jersey Proud: Army ROTC students from Rutgers, Seton Hall and Princeton train together

Jersey Proud: Army ROTC students from Rutgers, Seton Hall and Princeton train together

1:32
Knowing the early warning signs during Stroke Awareness Month

Knowing the early warning signs during Stroke Awareness Month

0:27
Prosecutor: 2 people seriously injured in 3-car crash; driver charged with drunk driving

Prosecutor: 2 people seriously injured in 3-car crash; driver charged with drunk driving

0:30
Police: New York man pointed knife at pro-Palestinian protester in Teaneck

Police: New York man pointed knife at pro-Palestinian protester in Teaneck

0:27
Officials: Paterson man threatened to ‘shoot up’ JFK Int’l Airport

Officials: Paterson man threatened to ‘shoot up’ JFK Int’l Airport

2:02
Authorities: Major fire displaces 20 people from 9 families in Elizabeth

Authorities: Major fire displaces 20 people from 9 families in Elizabeth

1:04
Hillsborough school officials vote to end middle school sports, make staff cuts amid budget cuts

Hillsborough school officials vote to end middle school sports, make staff cuts amid budget cuts

0:49
Bridgewater-Raritan School District waives fees to participate in clubs, sports

Bridgewater-Raritan School District waives fees to participate in clubs, sports