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A Farewell to Retirement Security

Back in organized labor’s heyday, United Steelworkers (USW) Local 1010, in Hammond, Ind., decided to fight for pensions. It wasn’t a foolish notion. Some American workers had pensions, and new U.S. labor laws and rulings had led the way to bargaining for them. But there were companies that balked at the idea, and Inland Steel, which employed Local 1010 members, was one of them. So the steelworkers went on strike on Oct. 1, 1949. A month later, the strike was over, the local had a pension plan, and American workers gained a foothold on a ladder that they kept on climbing. Read more…


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