Who’s Directing the Central States Pension Cuts?

Central States Pension Fund officials say that they will announce what pension cuts they want to make – and by exactly how much to whom – around August 31. Who’s calling the shots – and how much money do they make?

nyhan_thumb.jpg

We know the Hoffa administration set the stage for the cuts and has cheered them on. We know the eight trustees of the fund – four employer and four Teamster trustees – made the decision. And we also know that a bunch of high-paid executives at the fund have called the shots. 

Take a look at the 33 people at the Central States Fund who make $7.5 million per year in aggregate. Thomas Nyhan made $662,060 in 2013 (2014 figures are not available yet). And a half dozen others made over $300,000. The chart indicates that they all get salaries from both the Central States H&W Fund and the Central States Pension Fund. 

Do you think any of them are going to take a 30% or 40% cut in those fat salaries? 

The Trustees of the Fund make a whole lot less. Union officers, such as Chuck Wrobrey of Local 215 or Marvin Kropp of St Louis Joint Council 13, are forbidden by law to receive a salary as a pension trustee. They do get expenses, as this chart reflects. Kropp is a new appointee so he's not on the 2013 list. 

The four union-appointed trustees are Hoffa supporters. Hoffa has not even sent them an open letter asking them to hold off on cuts or give members a second opinion through an independent audit. Nor has Hoffa asked local unions to make that request of the union trustees. 

Fortunately Teamster members and retirees are not waiting for the executives or Hoffa. They continue to build a movement to stop the cuts and provide a better solution, and they will be in Washington DC on September 10 to be heard at the Treasury Department.

Click here to learn more or get involved in the fight to save our pensions.


Showing 6 reactions

Please check your e-mail for a link to activate your account.
  • followed this page 2016-08-17 13:33:34 -0400
  • posted about this on Facebook 2016-04-11 12:26:54 -0400
    Who’s Directing the Central States Pension Cuts?
  • commented 2015-10-08 09:46:03 -0400
    Well its now Oct 8 and the trip to DC seems to have done nothing. They converted our pension to a contribution based pension which makes our eligible benefit lower. This means our PBGC limit lower. Of instance my wife was eligible for 1800 at age 58. Now she has to work till age 62 to be eligible for 1800 and then the cuts are subtracted and she will get 1300. And will have been with the company for 36 years. Nyhan has to go. And vote Hoffa out. He was behind this law too until he heard the grumbling. There were other options out there this one just gave them the most freedom to screw us.
  • commented 2015-08-28 19:59:24 -0400
    It seems that our pension checks come from the same place as all the employees at central states so in order to save the fund they should all take the same pay cut.
  • commented 2015-08-24 13:02:37 -0400
    Why does it take so many high paid pension fund executives, too bankrupt it?
  • commented 2015-08-18 19:32:03 -0400
    Teamsters need new leadership that keeps the workers first
Get Advice Join TDU Donate

Recent News

Statement on Charlottesville

The events in Charlottesville have aroused the conscience of our country and the world. TDU condemns the racism and violence of white supremacists, neo-Nazis and the KKK, today and everyday. We stand in solidarity with the victims of the violence and their families. We are more determined than ever to fight racism by uniting all Teamsters for social and economic justice. Solidarity trumps hate.

Hoffa Refuses to Hold Executive Board Meetings

Teamster members elected a full General Executive Board last November. Now Hoffa refuses to hold regular meetings claiming that “past practice” dictates that he’s not required to hold GEB meetings. This is in direct violation of the Teamster Constitution, which specifically requires that the Board meet once in every quarter.

View More News Posts