Tag: Benefit cutback|Multiemployer plan
New Multiemployer Bill Introduced at Amazing Media Event
By Karen Friedman Yesterday was the day we have all been waiting for, the culmination of more than three years of hard work by hundreds of thousands of retirees and their many advocates and supporters. In a regal room in the U.S. Capitol building, Senator Sherrod Brown (D-OH) and Congressman Richard Neal (D-MA) – surrounded […]
Machinists pension latest to get treasury nod to cut benefits
The Treasury Department approved a reduction in pension benefits for 1,134 members of the International Association of Machinists Motor City Pension Plan.
Wisconsin Fights for its Retired Workers
Kenneth Stribling retired from the trucking industry after more than 30 years of service. In the years since, however, the 65-year-old Teamster has been working overtime to fight for the retirement he was promised. Like 10 million others, he spent the majority of his career paying into a multiemployer pension fund, often negotiating wage cuts, […]
Teamsters pension plan warns thousands of beneficiaries that the checks may get smaller
The Western Pennsylvania Teamsters fund — which has about 48 cents for every $1 in benefits it owes to retirees and workers — notified participants in April that it is considering cutting benefits in order to insure that the fund doesn’t become insolvent.
New York State Teamsters’ pensions to be slashed because of unfair law
By Karen Friedman Last week, the news came in that workers and retirees voted in favor of pension cuts by the New York State Teamsters Pension Fund. But dig a little deeper and you’ll see that the vote results are tainted. Because if you look at ballots cast, the workers and retirees overwhelmingly voted against […]
Furniture workers pension cuts okayed despite majority no vote
Thousands of members of a pension fund for furniture workers will soon see their benefits cut, even though a large majority of those members voted against the cuts or didn’t vote at all.
Treasury Department Gives Thumbs Up to Second Pension Rescue
A pension fund in Nashville is now the second plan covering unionized workers to receive Treasury Department approval to cut members’ benefits.
Federal Treasury Department approves potential Teamster pension cuts
The U.S. Treasury Department has approved a proposal for a 29 percent pension cut for members of a Teamsters unit based in upstate New York.
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 […]
Retirees Nationwide Protest Multiemployer Plan Benefit Cuts
The Pension Rights Center announced that in a series of coordinated actions taking place from March 10 through 13, retired truck drivers, spouses and widows are taking to the streets in five states to protest unprecedented proposed cuts to their pensions.
Teamsters retirees push back against pension cuts
“I feel like I’ve been robbed,” Laxton said. “I was promised all these years that I would receive this retirement at retirement age as long as I worked the years, and now they’re telling me that they have misinvested the money. I had no idea, or I’d have stayed in the truck,” he said.
Who will do right by the Teamsters’ broken pension promises?
Thirty years of work for a truckload of broken promises. More than 200,000 Teamsters have traveled a long road that was supposed to end with a secure retirement. Instead, decades of misdeeds and neglect have exploded into a public crisis. Now, retired union members face drastic cuts in their monthly pension checks — many by half […]