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Multiemployer plan

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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Treasury denies Central States pension plan try to cut benefits

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The Central States multiemployer pension plan’s application to reduce retiree benefits has been unanimously denied by the Treasury Department, Pension Benefit Guaranty Corp., and the Department of Labor.

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Mediator Kenneth Feinberg rejects Central States’ plan to cut Teamsters’ pensions

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The U.S. Treasury on Friday rejected the Central States Pension Fund’s bid to avoid collapse by slashing thousands of retired Teamsters’ monthly checks, many by half or more.

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