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Benefit cutback

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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Closely Watched Pension Case Could Bring Cuts For Other Plans

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When the Treasury Department delivers its ruling on proposed pension cuts for truckers in May, the cargo for a wide range of retirees could be Pandora’s box, warned Pension Rights Center Policy Director Karen Friedman.

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Local Retired Teamsters Face Pension Cuts

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After working 17 years as a trucker, Alan Woodall of Norfolk got a letter. His Teamsters pension fund may become insolvent and his checks may be cut, or even cut off.

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More Union Plans Apply to Cut Benefits

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According to the Pension Rights Center, the Iron Workers Local 17 Pension Fund, based in Ohio, was the second multiemployer plan to apply to the U.S. Treasury Department for permission to cut benefits under the Multiemployer Pension Reform Act of 2014 (MPRA).

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Teamsters Local Pension Seeks Benefit Cuts, Third Multiemployer Plan to Request Approval

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A New Jersey-based Teamsters local pension fund has become the third multiemployer pension plan known to apply for Treasury Department approval of benefit suspensions.

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