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Multiemployer plan

MEDIA ADVISORY: Retirees coordinate statewide “March Madness” actions to protest unfair pension cuts

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In a series of coordinated actions taking place from March 10-13, angry 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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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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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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Report: Teamsters pension fund cuts would affect 14,800 in Minnesota

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Cuts proposed by the Teamsters Central States Pension Fund will touch retirees and workers in every corner of Minnesota,a document just released by the Pension Rights Center reveals.

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Why the coming cuts to Teamster pensions deserve more national news coverage

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Historically, it was illegal for pension plans to cut core benefits to people who are already retired; if the plan had money in the bank, it had to pay promised benefits. But many so-called “multi-employer” plans, which serve workers from multiple companies in a particular industry, have been falling into financial distress for years.

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