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Economy

Retirees Face Big Pension Cuts

Thousands of retirees in the midwest, including the Quad Cities, face a big cut in their incomes next year. The pension fund for retired members of the Teamsters Union has proposed benefit cuts of up to 60 per cent, saying without them, the fund will run of money in ten years.

Herb Trix reports. 

A native of Detroit, Herb Trix began his radio career as a country-western disc jockey in Roswell, New Mexico (“KRSY, your superkicker in the Pecos Valley”), in 1978. After a stint at an oldies station in Topeka, Kansas (imagine getting paid to play “Louie Louie” and “Great Balls of Fire”), he wormed his way into news, first in Topeka, and then in Freeport Illinois.