PRC In the News
06/27/16|Baltimore Sun

Ironworkers union in Baltimore wants to cut pension benefits to save fund

Now Henry finds himself out on a ledge again, but not by choice. Ironworkers Local 16, the union that represents Henry and more than 1,100 other retirees and workers in the Baltimore area, has asked the federal government for permission to cut pension benefits.

PRC In the News
06/25/16|Washington Post

LETTER TO THE EDITOR: Getting the facts wrong about pensions

The June 21 editorial “The hard truth about pensions,” which looked at multi employer pension plans, had a couple of misguided assertions.

PRC In the News
06/14/16|Bloomber BNA

Central States Pension Fund Rescue Not Panacea for All

Many Central States pension fund retirees said they would be better off financially if the plan’s rescue proposal were rejected—even if the fund eventually went insolvent.

PRC In the News
06/08/16|Albany Times Union

Teamsters want local Congressional reps, Senators to protect their pensions

A group of retired Teamsters demonstrated in front of the Leo O’Brien federal building in Albany Monday to draw attention to the threats to their pensions, as well as what looks like Congressional inaction. 

PRC In the News
06/07/16|Business Insurance

Pension ruling triggers dire warnings

The U.S. Treasury Department’s rejection of a proposal by the Central States Pension Fund to slash benefits sets the stage for the collapse of the massively underfunded plan as well as the failure of the decades-old federal insurance program that protects benefits of more than 10 million participants in multiemployer plans.

PRC In the News
06/06/16|Pittsburgh Post-Gazette

Len Boselovic’s Heard off the Street: Teamster pensions spared, for the time being

Late in 2014, Congress quietly approved a scheme to prevent the insolvency of the federal program backing the pension benefits of about 10 million Americans.

PRC In the News
06/01/16|Labor Notes

Retirees Win Round One

Who could have predicted a year ago, as Congress-sanctioned pension cuts gathered momentum, that thousands of retired truckers self-organizing in diners and union halls across Middle America would manage to apply the brakes?

PRC In the News
05/23/16|Bloomberg BNA

`Zombie’ Pension Plans Need Autopsies, Financial Watchdog Says

The finances of the Central States pension fund, like those of other dead or dying “zombie” pension plans, need to be investigated, a financial watchdog said.

PRC In the News
05/20/16|Belleville News-Democrat

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.

PRC In the News
05/20/16|The Wall Street Journal

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.

PRC In the News
05/20/16|Canton Daily Ledger

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.

PRC In the News
05/16/16|Belleville News-Democrat

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.