By May 7, federal mediator Kenneth Feinberg must decide whether to accept a plan to cut Mr. Allsen’s payouts and those of thousands of other teamsters to prevent the Central States Pension Fund from going broke. The decision could set a national precedent for other multiemployer funds.
“It would be devastating,” said Mr. Allsen, 66, who spent 32 years trucking freight in Illinois and now lives in Cape Coral, Florida. His pension check could be reduced by more than half. “We’d have to cut back on everything to survive.”