Tag: Multiemployer plan
Pension Rights Center praises U.S. Treasury Department rejection of Central States Pension Fund application to cut retiree pensions
WASHINGTON – The Pension Rights Center joins hundreds of thousands of retired truck drivers, spouses, widows and active workers in praising the U.S. Department of the Treasury for rejecting the Central States Pension Fund’s application to cut its retirees’ pensions. “The Treasury Department decision is a victory for democracy,” said Karen Friedman, the Center’s executive […]
Time to rethink pensions?
Karen Friedman, Pension Rights Center Executive Vice President and Policy Director, discusses the current state of pensions in the U.S. and what can be done in the future.
Teamsters retirees await word on deep pension cuts
More than 13,000 Teamsters retirees in Michigan face cuts to their pensions as early as July. Some pension checks could be cut in half for retired truck drivers and others
Pensions At Risk: Is Your Retirement In The Crosshairs?
The U.S. Treasury Department is expected to decide by May 7 whether to approve benefit reductions for the trucking industry, which is one of the nation’s largest pension funds with more than 400,000 members.
Some Retirees Brace for Major Cuts in Wisconsin and Throughout the Midwest
Thousands of pensioners in Wisconsin and throughout the Midwest could soon see their benefits slashed. The U.S. Treasury will decide by the end of this week whether Central States Pension Fund can cut retirees’ benefits by up to 60 percent. The possibility could cause a lot more people to worry about their pensions.
Senate Democrats Urge Scrutiny of Central States Rescue
The entire Democratic Party Senate caucus has urged the Treasury Department to closely scrutinize the Central States pension fund’s rescue proposal.
Pension cuts barreling down the road?
Michael Barton drove a truck for three decades for United Parcel Service. But as of July 1, despite all those years on the job, he faces the possibility of a 50 percent cut in his pension checks.
Can Teamsters Save the Right to Retire?
Over 2,000 retirees and Teamsters from 20 states rallied in front of the U.S. Capitol April 14, calling on the Treasury Department to stop their pensions from being slashed by 50 to 70 percent.
Teamsters protest broken pension promises at U.S. Capitol
Prepared to rally against what could be the biggest cut to the largest multi-employer pension fund in U.S. history, retired Teamsters exited bus after bus that pulled up to Capitol Hill’s Western Lawn on a warm Thursday morning. They came from as far as Florida, Texas and Wisconsin. Many paid out of pocket for the […]
Q-C Teamsters join D.C. rally against pension cuts
More than a dozen Quad-Citians joined thousands of fellow retired Teamsters on Thursday at a rally in Washington, D.C., opposing proposed cuts to their pensions. The Treasury Department has until to decide May 7 whether to approve a plan by the Central States Pension Fund that would cut pension payments, in some cases by 50 […]
Teamsters rally in Washington to protest possible pension cuts
Holloway-Blankenship was one of hundreds of Teamsters who rallied in front the U.S. Capitol Thursday to protest what they fear could be a decrease in their benefits if the Treasury Department approves a cut by the Teamsters’ Central State Pension Fund, under the 2014 Multiemployer Pension Reform Act.
Akron-area Teamsters headed to Washington to protest pension cuts
Thousands of retired Teamsters — including two busloads from the Akron area — will pressure federal lawmakers Thursday at a rally in Washington, D.C., to ward off deep pension cuts expected to start this summer.
