New Jersey Local 469 Pension Fund Proposes Cuts

A second Teamster pension plan has filed an application with the U.S. Treasury Department to slash pensions, the Teamster Local 469 Pension Fund. New Jersey Local 469 is headed by International Vice President Fred Potter.

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This fund is very small compared to the giant Central States Fund, which has an application pending to slash pensions.  

The head of the Fund, Fred Potter, is a Vice President on the Hoffa-Hall slate. He is moving to slash benefits under pension-cut legislation that was rushed through Congress in late 2014.

Hoffa served on the board of the lobbying group (the National Coordinating Committee on Multiemployer Pensions) that wrote the pension cut legislation.

In the wake of a grassroots rebellion by Teamster retirees, Hoffa has flip-flopped and criticized the Central States pension cuts. 

The Hoffa administration blames pension fund problems on deregulation, which was passed in July 1980. While it was devastating in its impact, that was over 35 years ago.

Hoffa and Potter have been running the Teamsters Union for 17 years. Isn’t it a little late for finger-pointing, instead of taking action?

Thousands of retirees and Teamsters have joined the movement against Central States’ drastic cuts and Hoffa’s misleadership. They are actively supporting the Keep Our Pension Promises Act which would save their pensions from cuts, and other positive legislative help.

IBT Vice President Potter should be standing with members and retirees and demanding Congressional action to save Teamster pensions—not applying to slash retirees’ benefits.

The Local 469 application is available here.

Contact TDU for more information about how to get involved in the movement to defend our pensions. New Jersey Teamsters are especially invited!  


Showing 17 reactions

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  • followed this page 2016-10-31 15:10:38 -0400
  • commented 2016-08-18 13:21:22 -0400
    i worked in this local over 40 years thinking i was making sure i would be able to eat and pay bills low and behold they want 45% back when now i am to dam old to go back to work NOT THAT I WANT TO MIND YOU when i asked 12 r 13 years ago why no one was being put in the pension fund i was told employers did not want to go in because they did not want to refund it well whats the reason now they don’t have to anymore i am told NO CUTS LET IT RUN OUT TAKE ARE CHANCES 15 YEARS FROM NOW
  • commented 2016-07-18 09:50:32 -0400
    I count on my pension just like I count on my social security . I need the income . I counted on this income when I retired to see if I could afford to . Now they want to cut it by 45% ? If we don’t vote no for the cuts how many of us will be going back to work ?
  • commented 2016-02-09 11:12:41 -0500
    fatso needs to lose some Lbs.
  • followed this page 2016-02-08 23:40:41 -0500
  • commented 2016-02-05 15:30:24 -0500
    we are screwed
  • commented 2016-02-05 15:19:20 -0500
    test
  • commented 2016-02-05 15:12:58 -0500
    wow ! lizzy what part of the world do you live at . if it wasn’t for TDU most people wouldn’t even know what is going on in their own union. im retired after putting in 32 years with the teamster union. my letter says im being cut by 52%. I would rather get full benefits for the next 10 years than see central states and all its over paid people go down with me. why should they get full pay. let them and anyone else that says we don’t deserve our pension take a 52% cut with me.
  • commented 2016-02-05 15:03:42 -0500
    by looking at him I will say he spent our pension money on food.
  • commented 2016-01-29 02:50:03 -0500
    slash pensions, but keep executive compensation? Freddie needs to cut!!
  • commented 2016-01-29 02:50:02 -0500
    slash pensions, but keep executive compensation? Freddie needs to cut!!
  • commented 2016-01-28 17:30:46 -0500
    Well in my opinion, the retired teamsters should still be able to vote on at least the matters that affect them and change what was promised for all those years. That was all part of our pay.
  • commented 2016-01-28 17:17:48 -0500
    TDU is like the tea part for the Republicans.no good i was a teamster for over 35 years at that time in the 90’s when RON CAREY was pres.TEAMSTERS DESTROYING UNION.DON’T EVER VOTE FOR A TDU MEMBER FOR PRESIDENT.NOT GOOD?
  • commented 2016-01-28 11:47:26 -0500
    Absolutely true, Randall, too bad we retired people don’t have a vote.
  • commented 2016-01-28 10:32:11 -0500
    It’s time for us, the rank and file to unite again as we used to be and stop letting these fat cats divide us. We need to stand together and stop the raping of our union. These people in charge just keep getting wealthier off the backs of the members. Meanwhile they don’t do the job that they are being paid to do. STAND UP FOR THE RANK AND FILE. Imagine if we did what we are paid to do with that same conviction. None of us would have a job. I suggest that we stop paying these people and fire them. Then we cut their pensions down to poverty level and see how these fat pigs squeal then. We do have the power and the numbers to do this, but it would mean that we, the rank and file would have to put our petty differences aside and stand together once again as we had done all those years ago when people put the good of all ahead of themselves. We don’t have to keep giving in to these people. If we don’t stand united again we will be the dying breed that these thieves want.
  • commented 2016-01-27 23:21:39 -0500
    I totally agree. This playing both sides of the fence is just for political gain. They must think that were not smart enough to figure out that one. They need to go and suffer some consequences for all the deceit and corruption#
  • commented 2016-01-27 15:23:33 -0500
    So CSPF was the camel’s nose under the tent?

    Hoffa, Jr was for it before he was against it. Why would anyone believe anything out of the liar’s mouth considering how often they flip flop according to how the wind blows?

    These A holes all need a big pay cut. They have not missed many meals from the looks of them.
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