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Multiemployer plan

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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Treasury denies Central States' bid to cut pension benefits

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In a major victory for multiemployer pension plan participants, the U.S. Treasury on Friday denied an application by the Teamsters' Central States Pension Fund to slash benefits for hundreds of thousands of plan members.

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Treasury rejects plan to cut pension benefits for some retirees

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The Treasury Department rejected a plan Friday that would have substantially cut pension benefits for nearly 300,000 former and current truckers and their family members.

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Retired Teamsters know pension fight's not over

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Retired Teamsters feel like they’ve won a battle, but not the war to preserve pensions for more than 25,000 Wisconsinites and 270,000 retired union workers in the Midwest.

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Treasury rejects Teamster pension cuts

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Teamster members dodged deep pension cuts thanks to a Friday decision, but they remain no closer to a solution for the severely underfunded Central States Pension Fund.

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Teamsters pension cuts may get worse — and a U.S. safety net is at risk

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Treasury Department Special Master Kenneth Feinberg has delivered a stinging rebuke to the $16.1 billion Central States Pension Fund’s application to slash benefits at a teetering retirement plan that had not yet collapsed. 

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Central States executive says Congress holds key to pension fund’s rescue

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Saving the Central States Pension Fund largely rests with Congress now that the U.S. Treasury has rejected the fund’s own rescue plan, the head of the fund said Monday.

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Threatened U.S. pensions safe for now - but what comes next?

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Should the pension of a retired truck driver - or his widow - be cut by one-third or more because the plan is in trouble? Doing no harm to current retirees is a basic tenet of sound retirement policy, as well as basic fairness. But U.S. legislation passed in 2014 opened the door to the possibility of cutting retiree benefits.

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It's back to the drawing board for multiemployer pension reform

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The result of the first test of a new multiemployer pension reform law has left trustees of the Central States Teamsters pension fund reeling, other troubled multiemployer pension fund officials uncertain about their options and some politicians feeling the pressure to step in.

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