PRC In the News
03/14/16|Labor Notes

Central States Retirees: A Wave of Organized Wrath

The Detroit picket was one of five this weekend called by angry Teamster retirees under the rubric of “March Madness,” with actions also held in Kansas City, St. Paul, Columbus, and Dunn, North Carolina. 

PRC In the News
03/02/16|Financial Advisor

Closely Watched Pension Case Could Bring Cuts For Other Plans

When the Treasury Department delivers its ruling on proposed pension cuts for truckers in May, the cargo for a wide range of retirees could be Pandora’s box, warned Pension Rights Center Policy Director Karen Friedman.

PRC In the News
03/02/16|WWNY News 7

Local Retired Teamsters Face Pension Cuts

After working 17 years as a trucker, Alan Woodall of Norfolk got a letter. His Teamsters pension fund may become insolvent and his checks may be cut, or even cut off.

PRC In the News
03/02/16|PlanSponsor

More Union Plans Apply to Cut Benefits

According to the Pension Rights Center, the Iron Workers Local 17 Pension Fund, based in Ohio, was the second multiemployer plan to apply to the U.S. Treasury Department for permission to cut benefits under the Multiemployer Pension Reform Act of 2014 (MPRA).

PRC In the News
02/03/16|Bloomberg BNA's Pension & Benefits Reporter

Teamsters Local Pension Seeks Benefit Cuts, Third Multiemployer Plan to Request Approval

A New Jersey-based Teamsters local pension fund has become the third multiemployer pension plan known to apply for Treasury Department approval of benefit suspensions.

PRC In the News
01/26/16|Bloomberg BNA's Pension & Benefits Reporter

Iron Workers Fund Looks to Cut Benefits,Is Second Plan to Seek Treasury’s Approval

An Iron Workers local pension fund has become the second multiemployer plan to apply for benefit suspension approval from the Treasury Department.

PRC In the News
01/25/16|Peoria Journal Star

Pension cuts ‘crippling’ for retired Creve Coeur trucker and his family

When Joe Frakes stepped down from the cab of his truck for the last time, he thought he was set for life. After three decades on the road, he’d accrued a solid Teamster pension. But 13 years after retiring, the 75-year-old now fears a nosedive in his monthly check from $2,500 to less than $1,500.

PRC In the News
10/31/13|BenefitsPro

Pension rights group objects to cutting retiree benefits

The Pension Rights Center agrees that many multiemployer pension plans are in financial distress right now, and that reforms are needed, but it told a House committee this week that it doesn’t agree with the idea of cutting existing benefits to retirees.

PRC In the News
10/31/13|Pensions & Investments

Union and retiree pressure mounting against multiemployer pension fund reform

At a hearing held Tuesday by the House Education and the Workforce Subcommittee on Health, Employment, Labor and Pensions to consider possible legislation, members of the Retirement Security Review Commission discussed their reform proposals, which would allow for reduced benefits for future and possibly current retirees in the most troubled pension funds.