Union Pensions in the Red

The SEIU, Teamsters, the list goes on. WSJ. A raw deal, but for whom? Where's the money gone?

Poor management probably deserves a lot of the blame for the union decline, but the exact causes are a mystery. An even bigger mystery is that the unions do a far better job with funds created for their officers and employees than for mere workers. The SEIU Affiliates, Officers and Employees Pension Plan—which covers the staff and bosses at its locals—was funded as of 2007 at 102.2%.

Yet if card check goes through, non-union workers would be essentially forced to join, putting their pensions at risk too.