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Teamsters’ Pension Fund Warns 400,000 of Cuts
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<blockquote data-quote="cheryl" data-source="post: 1864930" data-attributes="member: 1"><p><strong>Teamsters’ Pension Fund Warns 400,000 of Cuts - New York Times</strong></p><p></p><p>A prominent Teamsters pension fund, one of the largest, has filed for reorganization under a new federal law and has sent letters to more than 400,000 members warning that their benefits must be cut.</p><p></p><p>Any reorganization of the decades-old Central States Pension Fund would take months and would probably be a brutal battle as workers, retirees, union leaders and employers all seek to protect competing interests. It is a multiemployer plan, the type led jointly by a union and a number of companies, that has caused consternation for many years, because if it failed, it could wipe out a federal insurance program that now pays the benefits of a million retirees.</p><p></p><p>Discussed here: <a href="http://www.browncafe.com/community/threads/central-states-pension-reduction-plan-letter-october-2015.366625/unread" target="_blank">Central States Pension Reduction Plan Letter announces Cuts - October 2015 | UPS Discussions</a></p></blockquote><p></p>
[QUOTE="cheryl, post: 1864930, member: 1"] [B]Teamsters’ Pension Fund Warns 400,000 of Cuts - New York Times[/B] A prominent Teamsters pension fund, one of the largest, has filed for reorganization under a new federal law and has sent letters to more than 400,000 members warning that their benefits must be cut. Any reorganization of the decades-old Central States Pension Fund would take months and would probably be a brutal battle as workers, retirees, union leaders and employers all seek to protect competing interests. It is a multiemployer plan, the type led jointly by a union and a number of companies, that has caused consternation for many years, because if it failed, it could wipe out a federal insurance program that now pays the benefits of a million retirees. Discussed here: [URL='http://www.browncafe.com/community/threads/central-states-pension-reduction-plan-letter-october-2015.366625/unread']Central States Pension Reduction Plan Letter announces Cuts - October 2015 | UPS Discussions[/URL] [/QUOTE]
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Teamsters’ Pension Fund Warns 400,000 of Cuts
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