samklug.bsky.social
Historian and teacher. Author of THE INTERNAL COLONY: https://press.uchicago.edu/ucp/books/book/chicago/I/bo238821158.html
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Thank you! I guess I’m lucky this is just one student and it isn’t happening with a group of 5-10 on the same team who are taking my class, which is a pretty frequent occurrence
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Wow!
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Can’t wait!
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The Harvard faculty chapter of the AAUP filed a lawsuit on Friday to block the federal government's unlawful extortion of universities. I'm very grateful to see Harvard's leadership take a similar stance.
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You think so? The Thunder are pretty formidable.
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I'm far from an expert on this but my understanding is: 1) yes, this is possible; 2) ERISA means the government insures most private-sector DB pension plans (at least to some degree), so it's still way less risky than a 401(k)
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I'm sure both the pensions and the 401(k)s are invested in stocks, and both are probably managed by BlackRock or Vanguard or some such. But the defined-benefit pension guarantees a specific payout at a specific time to the worker, whereas what a 401(k) pays out depends directly on the market.
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Because of this divide, the post-2007 workers have a lot to lose from financial fallout from the tariffs. This could be a stress test for Fain's coalition: he won the presidency very narrowly and owed that victory largely to younger UAW members
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Fain and UAWD pushed for restoring defined benefit pensions for all UAW members at the Big 3. This was a major demand in the 2023 strike that didn't make it into the final contract.
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At the Big 3, those hired before 2007 have defined benefit pensions, which aren't affected by market volatility. Those hired after 2007 have 401(k)s. It's a massive divide among those workers in the union.