Losses under Goldman, Northern Trust accelerated Teamsters cuts

Losses under Goldman, Northern Trust accelerated Teamsters cuts

04/06/16

One of America’s most battle-hardened pension funds was flying high last decade with large bets on stocks, lower-rated bonds and real estate. But even during the best of times, the Central States Pension Fund needed to draw down at least $1.2 billion a year in capital to pay for overhead and Teamsters union drivers’ benefits.

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