One of the nation’s largest pension funds could soon cut benefits for retirees
More than a quarter of a million truckers, retirees and their families could soon see their pension benefits severely cut — even though their pension fund is still years away from running out of money.
Retirees to Congress and Treasury Department: Don’t cut our pensions!
Last Thursday, more than 2,000 retirees from around the country visited Washington, D.C., to tell Congress and policymakers one thing: Don’t cut our pensions. These retired truck drivers, warehouse workers, dock workers, widows, spouses and other retired Teamsters attended a rally held at the U.S. Capitol to protest devastating pension cuts that could affect more […]
Karen Friedman’s speech to the Protect Our Pensions Rally (April 14, 2016)
I’m so glad to be here with thousands of you at the Protect Our Pensions Rally! First, I want to especially thank Mike Walden and Bob Amsden and all the leaders of the pension committees throughout the country who made this event happen. You are doing a GREAT job. I’m also honored to share the […]
MEDIA ADVISORY: Retired truck drivers, spouses and widows to rally at U.S. Capitol to protest proposed pension cuts
WASHINGTON – Tomorrow, on Thursday, April 14th from 11:00 a.m. to 1:00 p.m., thousands of retired truck drivers, spouses and widows will travel to Washington, D.C., for a rally on the West Lawn of the U.S. Capitol to urge policymakers and the Treasury Department to stop unprecedented cuts to their hard-earned pensions. These retirees are […]
Pension Rights Center Applauds Release of Rule Protecting Investors from Conflicted Investment Advice
WASHINGTON – The Pension Rights Center applauds the U.S. Department of Labor for finalizing an important regulation to help ensure that financial advisers and brokers who give advice on investments in 401(k) plans and IRAs do so in the best interests of their clients. The Labor Department estimates that American families lose as much as […]
Losses under Goldman, Northern Trust accelerated Teamsters cuts
One of America’s most battle-hardened pension funds was flying high last decade with large bets on stocks, lower-rated bonds and real estate. But even during the best of times, the Central States Pension Fund needed to draw down at least $1.2 billion a year in capital to pay for overhead and Teamsters union drivers’ benefits.
San Francisco Poised to Approve Fully Paid Parental Leave
“There’s been a lot of proposals out there, but California became the state leading the effort,” she said. “It’s a recognition that most people are retiring without adequate income.”
Disney case shows pitfalls of overlooking pension plan descriptions
How much effort should a company make to inform employees how their personal decisions could affect their benefits? This week, a widow learned she lost an appeal to the Walt Disney Co. over that issue.
Pension cuts to keep federal fund afloat could drown retirees in debt
A recovery plan that would reduce pension paychecks to keep the Central States Pension Fund afloat could ultimately drown Wisconsin retirees and the state’s economy in financial problems.
California proposal would require businesses to help workers save for retirement
Companies with as few as five employees could soon be required to provide them with retirement savings accounts, under a new proposal wending its way through the state Legislature that is nearing a vote.
California explores state-run 401(k) plan
In a time when employers are increasingly trimming or completely forgoing employee retirement benefits, political leaders in the country’s largest state hope the government can help young workers take matters into their own hands.
MEDIA ADVISORY: Retirees coordinate statewide “March Madness” actions to protest unfair pension cuts
In a series of coordinated actions taking place from March 10-13, angry retired truck drivers, spouses and widows are taking to the streets in five states to protest unprecedented proposed cuts to their pensions. The retirees are calling on presidential candidates and members of Congress to protect their pensions and to educate other retirees that […]
