Month: April 2016
Senate Democrats Urge Scrutiny of Central States Rescue
The entire Democratic Party Senate caucus has urged the Treasury Department to closely scrutinize the Central States pension fund’s rescue proposal.
Pension cuts barreling down the road?
Michael Barton drove a truck for three decades for United Parcel Service. But as of July 1, despite all those years on the job, he faces the possibility of a 50 percent cut in his pension checks.
How the Dream of Retirement Is Becoming a Nightmare
How bad is it? According to a May 2015 study by the Government Accountability Office on retirement preparedness, half of American households have no retirement savings at all. That’s zero: no 401(k)s, no IRAs, not a dime.
Can Teamsters Save the Right to Retire?
Over 2,000 retirees and Teamsters from 20 states rallied in front of the U.S. Capitol April 14, calling on the Treasury Department to stop their pensions from being slashed by 50 to 70 percent.
Editorial: Up or down, Congress owes Central States pensioners a vote
Give them a vote. Congress owes that much to the 400,000 retirees set to have their Central States Pension Fund benefits slashed next month.
Teamsters protest broken pension promises at U.S. Capitol
Prepared to rally against what could be the biggest cut to the largest multi-employer pension fund in U.S. history, retired Teamsters exited bus after bus that pulled up to Capitol Hill’s Western Lawn on a warm Thursday morning. They came from as far as Florida, Texas and Wisconsin. Many paid out of pocket for the […]
Q-C Teamsters join D.C. rally against pension cuts
More than a dozen Quad-Citians joined thousands of fellow retired Teamsters on Thursday at a rally in Washington, D.C., opposing proposed cuts to their pensions. The Treasury Department has until to decide May 7 whether to approve a plan by the Central States Pension Fund that would cut pension payments, in some cases by 50 […]
Teamsters rally in Washington to protest possible pension cuts
Holloway-Blankenship was one of hundreds of Teamsters who rallied in front the U.S. Capitol Thursday to protest what they fear could be a decrease in their benefits if the Treasury Department approves a cut by the Teamsters’ Central State Pension Fund, under the 2014 Multiemployer Pension Reform Act.
Got Questions About Your Pension? Try These Helplines.
There’s also free legal assistance on pension, profit sharing or retirement savings plans from the U.S. Administration on Aging’s Pension Counseling and Information Program that serves 30 states. The Pension Rights Center has a list of those service center contact numbers here, and also has lawyers and actuaries on call at PensionHelp America.
Akron-area Teamsters headed to Washington to protest pension cuts
Thousands of retired Teamsters — including two busloads from the Akron area — will pressure federal lawmakers Thursday at a rally in Washington, D.C., to ward off deep pension cuts expected to start this summer.
Rally to focus on plight of pensioners
Denise Wheatley spent 32 years working as a clerk at Standard Forwarding, a trucking company in East Moline. Now retired, she’s counting on the $2,850 monthly pension she earned on the job. In a few months, though, that could be cut in half.
One of the nation’s largest pension funds could soon cut benefits for retirees
More than a quarter of a million truckers, retirees and their families could soon see their pension benefits severely cut — even though their pension fund is still years away from running out of money.