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Multiemployer plan

Pension ruling triggers dire warnings

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The U.S. Treasury Department's rejection of a proposal by the Central States Pension Fund to slash benefits sets the stage for the collapse of the massively underfunded plan as well as the failure of the decades-old federal insurance program that protects benefits of more than 10 million participants in multiemployer plans.

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Len Boselovic’s Heard off the Street: Teamster pensions spared, for the time being

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Late in 2014, Congress quietly approved a scheme to prevent the insolvency of the federal program backing the pension benefits of about 10 million Americans.

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Resources for Participants in Multiemployer Pension Plans in “Critical and Declining” Status

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The Multiemployer Pension Reform Act of 2014 (MPRA) allows severely underfunded multiemployer pension plans that are in “critical and declining” status to seek Treasury Department approval to cut pension benefits.

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Retirees Win Round One

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Who could have predicted a year ago, as Congress-sanctioned pension cuts gathered momentum, that thousands of retired truckers self-organizing in diners and union halls across Middle America would manage to apply the brakes?

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`Zombie' Pension Plans Need Autopsies, Financial Watchdog Says

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The finances of the Central States pension fund, like those of other dead or dying “zombie” pension plans, need to be investigated, a financial watchdog said.

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Teamsters pension fund won’t propose another plan to cut benefits

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The struggle to fix a Teamsters retirement fund took another turn Thursday when the Central States Pension Fund said it will not propose another plan to prevent the fund from running out of money in 10 years. Instead, Central States Pension Fund wants Congress to pass legislation to protect pension benefits.

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LETTER TO THE EDITOR: Treasury Is Right to Block Subpar Settlement

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There is no question we need to find a solution to the problems facing Central States and other severely underfunded multiemployer plans.

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Retirees dodge bullet, but ‘gun’ still loaded

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Sixty-five-year-old Teamster retiree Ron Hill was relieved when the U.S. Treasury Department this month announced the rejection of a plan to drastically cut pensions for 272,600 Teamster workers and retirees, including thousands in Illinois.

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Feds reject plan to cut Teamsters’ pensions

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The U.S. Treasury Department announced Friday afternoon that it rejected Central States Pension Fund’s request to cut pension benefits for about 277,000 retired Teamsters across the country.

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Retired Teamsters get reprieve as federal government rejects Central States pension cuts

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Retired Teamsters facing imminent massive cuts to their pensions won a significant battle Friday that preserves their monthly retirement checks but still leaves open the huge issue of how to keep their pension plan solvent in years ahead.

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