until the books and tecords of the teamsters local 707 pension fund are examined. by the SEC and appropriate prosecutorial authorities , it msy not be concluded thst the trustees of the prndion fund are and have been discharging their fiduciary duties. suffolk county liability bails in vomparison to the amount of money thst done seek eithout an acvounting to sufgolk county residents and voters across the country
Sen. Chuck Schumer and Rep. Peter King joined Long Island Teamsters Tuesday in calling for union pension shortfalls to be funded through Treasury bonds tied to the federal budget.
Schumer (D-N.Y.) and King (R-Seaford) are pushing Congress to pass the Butch Lewis Act, which would create a new office within the Treasury Department to allow pension plans to borrow for any shortfall using Treasury bonds issued by the government to sell to financial institutions.
Schumer, the Senate minority leader, and King met with Teamsters Local 707 in Hempstead to push for the bill, which could help fund pensions for 4,500 Long Island families, including more than 3,700 retirees, Schumer said.
Suffolk facing huge price tag for alleged law enforcement wrongdoing
The price tag for alleged wrongdoing by Suffolk law-enforcement — including the conviction of Keith Bush for a murder he didn’t commit — could exceed an estimated $50 million and place even more burden on the county’s stressed finances, according to government officials and an analysis of court records.
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