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Multiemployer plan

Houston workers fight for promised pensions

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"We've never seen anything like this - ever," Pension Rights Center Policy Director Karen Friedman said. "(The) law pretty much gives almost unbridled power to the trustees of certain pension funds that will allow them to cut the pensions of retirees by, in this case, as much as more than 70 percent."

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Innovation could be outcome of multiemployer plan debate

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With three multiemployer pension plans moving to cut benefits, pension advocates are pushing to derail the law that made such steps possible before there are more, while other experts press for new plan designs.

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Pension plans that have applied to cut benefits under the Multiemployer Pension Reform Act

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The Multiemployer Pension Reform Act of 2014 (MPRA) gives the trustees of certain underfunded multiemployer plans that meet the definition of being in “critical and

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Hundreds speak out on proposed Teamster benefit cuts

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More than 500 people filled a public hearing Monday to speak out on proposed benefit cuts to one of the largest Teamster pension funds, which includes 30,000 members in Michigan.

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Retired Teamsters fight to stop pension cuts

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Retired pensioners called a plan to rescue the Central States plan as "Pension Theft." The retirees said they don't know what they'll do if pensions are cut by up to 60%.

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Teamsters pension crisis driving deep cuts for retirees

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A plan to slash pensions for retired Teamsters has activists warning a dangerous precedent could be set for other plans. Angry Teamsters are expected in Detroit to protest cuts of 50% or higher.

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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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Iron Workers Fund Looks to Cut Benefits,Is Second Plan to Seek Treasury’s Approval

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An Iron Workers local pension fund has become the second multiemployer plan to apply for benefit suspension approval from the Treasury Department.

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De-Risking and Rescue Plan Petitions Expected to Rise

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The de-risking of single-employer defined benefit pension plans and the suspension of benefits by multiemployer plans are poised to be two of the primary issues facing pension plan sponsors and participants in 2016.
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Pension cuts 'crippling' for retired Creve Coeur trucker and his family

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When Joe Frakes stepped down from the cab of his truck for the last time, he thought he was set for life. After three decades on the road, he’d accrued a solid Teamster pension. But 13 years after retiring, the 75-year-old now fears a nosedive in his monthly check from $2,500 to less than $1,500.

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