More than a million people risk losing their federally insured pensions in just a few years despite recent stock market gains and a strengthening economy, a new government study said on Monday.
Pension and Benefits
TDU in Action—Pension and Benefits
“TDU will support any fight launched by the International Union to defend our benefits. And we will continue to inform members so we can put pressure on the employers and on Hoffa, when necessary, to save and strengthen our benefits.”
K.W. Phillips, Roadway
Local 667, Memphis, Tenn.
Pension Workshops: Our Rights, the Benefit Cuts and How We Can Beat Them
TDU brings together concerned Teamsters and pension experts to share information and build a movement to restore our benefits and strengthen them for the future.
Pension and Benefits Newswire
“For retirement, the answer is 4-0-1-k,” proclaimed Tyler Mathisen, then editor of Money magazine in 1996. “I feel sure that someday, like a financial Little-Engine-That-Could, it will pull me over the million-dollar mountain all by itself.”
June 20, 2014: The overdue year-end 2013 report on the Central States Pension Fund shows that it grew by $1 billion to $18.7 billion on the rising stock market.
June 16, 2014: Teamsters, along with many other groups, are fighting back against a proposal Congress is considering to allow troubled pension funds – like the Central States Fund – to slash existing benefits.
June 13, 2014: Al Nelson, the Benefits Services Director of the Central States Pension Fund, told Minneapolis Teamsters that he favors a 30 percent across-the-board benefit cut for every current retiree and every active Teamster in the fund.
June 13, 2014: The Director of the Pension Benefit Guaranty Corporation (PBGC) has called for reforms that would help secure union members pensions.
Complexity is to be expected when discussing an issue like pensions.
May 30, 2014: How much could you possibly lose from your pension if the anti-cutback provisions are repealed from federal law? The Pension Rights Center has posted a retiree cutback calculator to show you the answer.
In recent years there has been a regular drum beat of news stories warning us about the enormous unfunded liabilities of state and local pension funds. Much of this has come from reports issued from well-endowed foundations, most notably the Pew and Arnold foundations who have a joint project on public pensions.