February 3, 2015: A review of the 3rd quarter 2014 financial report of the Central States Pension Fund shows that the fund has $18 billion as of September 30, 2014.
Compared to the previous year, the fund saw a net investment income decline of $1.2 billion but it was offset slightly by a $94 million net increase in operating income. The report provides no explanation for the investment income downturn though it states that Trustees met with the named fiduciary, Northern Trust.
The report, filed January 26, 2015, mentions passage of the Multiemployer Pension Reform Act of 2014 but states, “it is too soon to assess the potential impact of this complex legislation on the Pension Fund.”
Teamsters for a Democratic Union (TDU) is working to fight any pension cuts and build a movement for pension justice.