The Building Tradesman Newspaper

Next idea for pension reform: Congress introduces new 'composite' plans

WASHINGTON, D.C. - The "Do-Nothing Congress" has generally earned its nickname over the past several years. But when it comes to throwing a lifeline to the nation's struggling pension plans, a few things are getting done. ..

No easy road for saving failing pension plans By Paul O. Catenacci, Esq. Novara Tesija PLLC

Editor's note: On May 6, 2016, a U.S. Treasury Department mediator rejected a huge proposed cut in retirement payouts for hundreds of thousands of workers tied to the woefully underfunded Teamsters Central States Pension Fund. The decision by mediator Kenneth Feinberg temporarily put a stop to plans to cut the fund's pension payouts ranging anywhere from the average of 23 percent all the way up to 90 percent.  ..

A.G. Scheutte signs on to lawsuit to remove overtime protections

LANSING –Michigan Attorney General Bill Schuette (R) on Sept. 15 signed onto a lawsuit with 21 states to stop the Obama Administration’s new overtime rule, which would extend mandatory overtime pay to 100,000 Michigan workers. Schuette putting his name on the document was a move blasted by the Michigan AFL-CIO ..

Lofty perspective: new apartments rise above existing parking deck

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Michigan is No. 1, but that's not really saying too much

Michigan, for one month anyway, got its construction mojo back. Long-term, though, construction employment in our state, and elsewhere, remains middling, although a positive change could be around the corner. ..

News Briefs

Congress OKs money for Flint

WASHINGTON, D.C.  – The U.S. House of Representatives on Sept. 28 by a vote of 399-25, passed H.R. 5303, the Water Resources Development Act (WRDA), which includes an amendment to authorize $170 million to repair water infrastructure in Flint. WRDA provides authorization to fund water infrastructure projects across the country. The amendment was offered by congressmen Dan Kildee (D-Flint) and John Moolenaar (R-Midland). ..

DTE Energy announces $1B+ in new generation

DETROIT - DTE Energy on Sept. 29 announced it will build new energy generation plants to  replace a portion of the capacity from coal-fired plants DTE intends to retire by 2023. ..