Central States Pension Annual Financial: $15.3 billion

The Central States Pension Fund Financial Report (4th Quarter 2016) shows that the fund ended 2016 with $15.3 billion in assets, down from $16.1 billion a year earlier. Due to healthy returns on bonds and in the stock market, this was not as bad as 2015 but still shows the fund headed steadily downward.

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That fourth quarter report and the Report of the Independent Special Counsel include some updates to report to members

  • The fund had 59,479 actives and 203,415 retirees in November 2016. The number of retirees is very slowly declining.

  • The fund made 8.5% on investments in 2016.

  • The fund projects that it “will be insolvent within ten years” unless a solution is found. With that in mind, the fund’s investment manager, Northern Trust, plans to “gradually increase allocation of the fund’s asset to fixed income investments [bonds].”

  • The Government Accounting Office (GAO) investigation of the Central States Fund and its oversight, which was demanded by the pension protection movement, is ongoing. The GAO will likely issue reports in July or August. In March 2016, the GAO interviewed the fund’s Trustees, Northern Trust, and fund advisors.

  • The fund’s investment income was $1.22 billion and employer contributions totaled $774 million, for a total income of $2.0 billion. This was $800 million short of benefits paid of $2.8 billion. In the prior year, 2015, employer contributions were higher because Republic Services (waste) paid $139 million and US Foods paid $97 million in withdrawal liability in 2015, to exit the fund.

  • The fund claims that “the trustees have also resolved to cooperate with Congress, regulatory agencies, unions, employers, and private parties and organizations to search for a solution….”

It is high time for the fund to not only cooperate, but put on a full-court press to find a legislative solution to the pension crisis.

The Hoffa administration has done almost nothing to help, and the crisis is spreading to member Teamsters. As the report makes clear, the IBT has even sided with Kroger Corp. against the Fund to try to pull 7,000 more members out of fund.

The Financial Report of the Health and Welfare Fund continues to show a completely different picture. The H&W Fund (TeamCare) continues to grow in assets, and has enormous reserves of $5.0 billion, up nearly a billion dollars over a year ago.

The Central States Financial Reports are available to members and retirees only because TDU won a victory in federal court which ended a financial cover-up by the fund.


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  • commented 2017-05-16 11:48:56 -0400
    President Of The

    United States Of America
    Mr. Donald J. Trump
    The White House
    1600 Pennsylvania Avenue NW
    Washington, D. C. 20220

    Dear Mr. President; As you are about to take the next chapter in your life, as a president. I’m really hopeful that you do have the American Peoples interest at heart. Republican, or Democrats we all live on this earth together. In search for the American dream. Which is to provide for our family’s until we are taken from this earth. Heart, Mind, Body, and Soul. I look at running a home is like running a business. As a little boy I’ve always asked myself. How much better off will I be fifty years down my path? If I didn’t start my own personal planning. Granted I don’t have the life style that you have. Every dollar that I have made, I was proud to of earned it. It was my responsibility as a person to learn how to save, through all the thick an thin. I am proud to be an American, owner of my own home, live by myself. Along with all of my own accomplishments that I have made. Most importantly I am proud of the choices and the path that I have chosen. Standing up taken total control of my responsibilities, with respect as my own person. An to speak my mind. Nobody takes control of my life. God gifted me with one life to live, I am going to live it to the fullest, an within my means. I don’t want to see history repeating itself. Nor the technology getting so far advanced to where the average American can not understand any of it. Even our younger generation, your own grand children’s, flesh and blood will not be able to figure it out. Those are ones we are going to rely on to run this country. After your term or terms are done. For myself I do not have any of them. I am counting on them for making the right choices. We do need to protect what is already ours. Our land, jobs, rebuilding America. Getting corporations to come back into America an putting Americans back to work. Protecting our Social Security System, Along with all of those who are now earning their American Pension. With more of the future active workers to come. This is one of the reasons why myself, and others all went to work for the larger companies. Someplace where there is worthiness, loyalty, earning of respect. That is my responsibility. Protecting all of what I have already earned over the years, with more to come.

    Page 1 From wall street, to the banking industry we need to bring our own deficit down. With corporation continuing to buy out unions. Is a clear sign of belittling the American worker. (The Baby Boomers, Middle Class) Which just happens to be America’s consumer base. Credit Card Companies need to be put into check. Lowering of their interest rates. Stop relying on technology, put more people back to work. With on the job training. We want and need to rebuild our existing pension fund, without any cuts to them. Make for the International Brotherhood Of Teamsters who have been what I call stealing from our Pension Fund. They all need to be FIRED. Pay back into the fund, with interest. Along with taking a 31% cut their selves. I am a retired Teamster, receiving my pension. Expecting to take a 31% cut. While the International Brotherhood Of Teamsters goes down to Florida. Lives it up on our pension. Stop my own union from asking government from getting into and spending our pension fund. We want and need positive, proactive change in the higher level. Begin With The End In Mind We The People Are Who Made United States Of America What It Is Today The Spirit Of America United We Stand / Divided We Fall WE HAVE A WAR GOING ON RIGHT HERE IN AMERICA KICK DRUGS OUT OF AMERICA KEEP OUR PENSION PROMISES ACT and the PROTECT OUR PENSION ACCOUNTABILITY ACT

    There should be a grandfather clause put into law, to protect our rights as human being.
    This is one right I do have as an American Citizen, that is to speak out. How would you like it IF WE THE PEOPLE STOPPED PAYING TAXES? A Change Of Attitudes, Actions, Behaviors, With Acceptance Makes For The Consequences Life’s Challenge’s Shouldn’t Be A Challenge, They Should Be Challenging. A Promise Made Is A Promise Kept Honesty Is The Only An Best Policy Thank You Norman K. Spinner Retiree Page 2

  • commented 2017-04-25 17:36:08 -0400
    Stop giving money to the liberals for re election. Don’t feel sorry at all. I want my fucking money….
  • commented 2017-04-20 23:35:45 -0400
    Despite the dismal Failures of the Hoffa Administration over the last 18 years, ignorant Members and Cronyism reelected him for another 5 years.

    Failing to Organize our Teamster Core Industries and failing to enforce the Member’s Contracts, paints a dim forecast for a Pension recovery.
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