14,800 Minnesotans face deep cuts to their pensions
Ken Petersen spent 30 years as a Teamster trucker, loading and hauling utility poles, fertilizer and other freight. All those years his employers socked money away for the monthly pension check Petersen has received since he retired from trucking in 2003.
Risky Pension Bets
Would you rather have a monthly pension guaranteed for life or a lump sum of money now? Before I address that question, let me say that you’re lucky if you have the choice.
PRC comments to Treasury on the Central States Pension Fund’s application to cut retiree benefits (December 10, 2015)
The Pension Rights Center submitted comments to the Treasury Department regarding the Central States Pension Fund’s (CSPF) application to cut retiree benefits under the Multiemployer Pension Reform Act of 2014. In its comments, the Center urges Treasury to reject CSPF’s application because The application fails to demonstrate that the plan took all reasonable steps to […]
Independence rally draws pension rights advocate Karen Friedman
Pension rights advocate Karen Friedman will address area retirees facing huge cuts to their pensions at a rally Thursday in Independence.
Proposal to slash Teamsters’ pension benefits to be discussed tonight
Facing cuts in their promised pensions of 30%, 50% and even more, retired Teamsters on Wednesday evening blasted the “rescue plan” that the Central States Pension Fund says it needs to save it from going broke.
This is what we do: help people
My colleague Kyle often brings to my attention news articles that might merit a response from us. Sometimes the article contains a factual error. Sometimes we disagree with a statement in the article and write an opposing view in a letter to the editor. Sometimes we have additional information to add. Back in March, Kyle […]
Retirement Issue Gets Presidential ‘I Beg Your Pardon?’
The race to the Oval Office is shaping up, and people like Brianna Buch are noticing one sizable employment issue is getting little attention from presidential candidates: retirement. Buch joked that if recording artist Kanye West gets serious about running for president in 2020 and if he starts talking about retirement issues — maybe, just […]
A big step forward for state-based initiatives
For the past 15 years, one of the Center’s top priorities has been to find innovative ways of finishing the formidable task of expanding pensions and retirement savings for the about 50 percent of the workforce – 70 million Americans – who are not currently participating in an employer-sponsored retirement savings or pension plan. Getting […]
Why Retirees Are Losing Their Pensions (AUDIO)
You didn’t read wrong. Retirees, after working for 30 years or more, will lose up to 70% of their pensions. These are some of our neighbors & friends. As a result of Congress’ 2015 omnibus spending bill, the pensions of up to 400,000 Americans, many of whom spent lifetimes working here, will see their pensions […]
Teamsters Local 371 organizes to protest pension cuts
Fred Lowry, a truck driver for 57 years, is facing a cut of $10,000 a year from his $33,600 annual pension unless federal action is taken on a controversial pension restructuring plan.
Speech by Karen Friedman to the Minneapolis Teamsters Committee (November 14, 2015)
Good morning, my friends from the Pension Rights Committee. I’ve flown in from Washington, D.C., and I know I’m in a fighting mood – and I bet you are too. Minnesotans, let’s get mad! Many of you met me when I was here last April, so you know that I’m the executive vice president and […]
Retiree benefits are facing many threats
Retirees face a less secure future due to decisions soon to come from the U.S. Supreme Court, due to changes to Social Security and Medicare, and due to the enactment of the Kline-Miller Multiemployer Pension Reform Act. They deserve full disclosure and the truth.
