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New York Teamsters approve slashing benefits to retired members
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<blockquote data-quote="cheryl" data-source="post: 3071968" data-attributes="member: 1"><p><a href="http://www.reuters.com/article/us-usa-union-pensions/new-york-teamsters-approve-slashing-benefits-to-retired-members-idUSKCN1BO2W6" target="_blank"><strong>New York Teamsters approve slashing benefits to retired members - Reuters</strong></a></p><p></p><p>Retired members of the Teamsters union in New York will have their benefits cut by around 30 percent starting in October after the 34,000 participants in the pension approved a plan aimed at extending the life of the cash-strapped fund.</p><p></p><p>Monthly pensions for retired teamsters from nine New York local unions who have 30 years’ service will be cut on average to $3,550 from $5,000, according to plan trustees. Members who are working would also have benefits cut.</p></blockquote><p></p>
[QUOTE="cheryl, post: 3071968, member: 1"] [URL='http://www.reuters.com/article/us-usa-union-pensions/new-york-teamsters-approve-slashing-benefits-to-retired-members-idUSKCN1BO2W6'][B]New York Teamsters approve slashing benefits to retired members - Reuters[/B][/URL] Retired members of the Teamsters union in New York will have their benefits cut by around 30 percent starting in October after the 34,000 participants in the pension approved a plan aimed at extending the life of the cash-strapped fund. Monthly pensions for retired teamsters from nine New York local unions who have 30 years’ service will be cut on average to $3,550 from $5,000, according to plan trustees. Members who are working would also have benefits cut. [/QUOTE]
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