PRC In the News
Teamsters pension fund won’t propose another plan to cut benefits
The struggle to fix a Teamsters retirement fund took another turn Thursday when the Central States Pension Fund said it will not propose another plan to prevent the fund from running out of money in 10 years. Instead, Central States Pension Fund wants Congress to pass legislation to protect pension benefits.
LETTER TO THE EDITOR: Treasury Is Right to Block Subpar Settlement
There is no question we need to find a solution to the problems facing Central States and other severely underfunded multiemployer plans.
Retirees dodge bullet, but ‘gun’ still loaded
Sixty-five-year-old Teamster retiree Ron Hill was relieved when the U.S. Treasury Department this month announced the rejection of a plan to drastically cut pensions for 272,600 Teamster workers and retirees, including thousands in Illinois.
Feds reject plan to cut Teamsters’ pensions
The U.S. Treasury Department announced Friday afternoon that it rejected Central States Pension Fund’s request to cut pension benefits for about 277,000 retired Teamsters across the country.
Retired Teamsters get reprieve as federal government rejects Central States pension cuts
Retired Teamsters facing imminent massive cuts to their pensions won a significant battle Friday that preserves their monthly retirement checks but still leaves open the huge issue of how to keep their pension plan solvent in years ahead.
Supreme Court rulings keep shareholder suits in state, set higher hurdles for plan participants
The Supreme Court made it somewhat easier to bring shareholder and other lawsuits in state court, but harder for retirement plan participants to sue unless there is clear harm, in two decisions released Monday.
Treasury denies Central States pension plan try to cut benefits
The Central States multiemployer pension plan’s application to reduce retiree benefits has been unanimously denied by the Treasury Department, Pension Benefit Guaranty Corp., and the Department of Labor.
Mediator Kenneth Feinberg rejects Central States’ plan to cut Teamsters’ pensions
The U.S. Treasury on Friday rejected the Central States Pension Fund’s bid to avoid collapse by slashing thousands of retired Teamsters’ monthly checks, many by half or more.
Treasury denies Central States’ bid to cut pension benefits
In a major victory for multiemployer pension plan participants, the U.S. Treasury on Friday denied an application by the Teamsters’ Central States Pension Fund to slash benefits for hundreds of thousands of plan members.
Treasury rejects plan to cut pension benefits for some retirees
The Treasury Department rejected a plan Friday that would have substantially cut pension benefits for nearly 300,000 former and current truckers and their family members.
Retired Teamsters know pension fight’s not over
Retired Teamsters feel like they’ve won a battle, but not the war to preserve pensions for more than 25,000 Wisconsinites and 270,000 retired union workers in the Midwest.
Treasury rejects Teamster pension cuts
Teamster members dodged deep pension cuts thanks to a Friday decision, but they remain no closer to a solution for the severely underfunded Central States Pension Fund.
