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Benefit cutback

Treasury Department Gives Thumbs Up to Second Pension Rescue

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A pension fund in Nashville is now the second plan covering unionized workers to receive Treasury Department approval to cut members’ benefits.

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Federal Treasury Department approves potential Teamster pension cuts

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The U.S. Treasury Department has approved a proposal for a 29 percent pension cut for members of a Teamsters unit based in upstate New York.

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Color of Money Live Chat with Michelle Singletary

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PRC's Karen Friedman and Joellen Leavelle discussed an array of retirement issues during Michelle Singletary’s Color of Money Live Chat on February 16, 2107.

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Retirees to Congress and Treasury Department: Don't cut our pensions!

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Last Thursday, more than 2,000 retirees from around the country visited Washington, D.C., to tell Congress and policymakers one thing: Don’t cut our pensions. These retired truck drivers, warehouse workers, dock workers, widows, spouses and other retired Teamsters attended a rally held at the U.S. Capitol to protest devastating pension cuts that could affect more than 270,000 people.

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Retirees Nationwide Protest Multiemployer Plan Benefit Cuts

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The Pension Rights Center announced that in a series of coordinated actions taking place from March 10 through 13, retired truck drivers, spouses and widows are taking to the streets in five states to protest unprecedented proposed cuts to their pensions.

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Teamsters retirees push back against pension cuts

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"I feel like I've been robbed," Laxton said. "I was promised all these years that I would receive this retirement at retirement age as long as I worked the years, and now they're telling me that they have misinvested the money. I had no idea, or I'd have stayed in the truck," he said.

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Who will do right by the Teamsters’ broken pension promises?

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Thirty years of work for a truckload of broken promises. More than 200,000 Teamsters have traveled a long road that was supposed to end with a secure retirement. Instead, decades of misdeeds and neglect have exploded into a public crisis.

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Central States Retirees: A Wave of Organized Wrath

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The Detroit picket was one of five this weekend called by angry Teamster retirees under the rubric of “March Madness,” with actions also held in Kansas City, St. Paul, Columbus, and Dunn, North Carolina. 

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Retirees protest proposed pension cuts

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The last few weeks have been busy for retirees who are working around the clock to stop the pension cuts proposed by the Central States Pension Fund that would affect hundreds of thousands of retired truck drivers, spouses and widows. 

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Is Pension Overhaul A Raw Deal For Career Military?

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Congress is cutting the guaranteed defined benefit pension plan for service members–and to make the change more palatable, adding sweeteners: a 1% base pay contribution and up to 4% match in the government Thrift Savings Plan and lump sum bonuses.

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