Tag: Benefit cutback|Congress|Legislation|Multiemployer plan|Pension Rights Center|Red zone/ critical status|Traditional (defined benefit) pensions|Underfunding
14,800 Minnesotans face deep cuts to their pensions
Ken Petersen spent 30 years as a Teamster trucker, loading and hauling utility poles, fertilizer and other freight. All those years his employers socked money away for the monthly pension check Petersen has received since he retired from trucking in 2003.
Proposed draconian cuts to Teamsters’ pensions draws fire from retirees, who vow action
If you want to meet some of the most ticked-off people on the planet, talk to any trucking industry retiree who received that letter from the Teamsters’ Central States pension plan notifying them of their potential financial haircut coming in retirement.
Central States Pension Fund Prepares To Slash Hundreds of Thousands of Workers’ Pensions
For several months, many current and retired truck drivers have feared receiving a letter in the mail that could be “devastating,” in the words of Teamsters union vice-president John Murphy. Finally, last Friday, the Central States Pension Fund sent those dreaded letters to 407,000 workers and retirees, mainly Teamsters employed by hundreds of trucking-related companies […]
Teamster Retirees’ Campaign Against Pension Cuts Draws Support from Bernie Sanders
Less than six months after getting started, a grassroots campaign among Teamsters union retirees to protect their pensions appears to be picking up steam, attracting the support of presidential candidate Bernie Sanders and threatening to influence the outcome of the union’s own leadership elections next year.
