August 08, 2022
The Central States Pension Fund, according to the latest quarterly financial report, has $7.4 billion in assets, and continues to decline. But help is arriving soon. The Fund filed an application on April 28 for $35.1 billion in a grant to protect Teamsters’ earned pensions at least through 2051, and hopefully well beyond that.
UPDATE: The Central States Fund now reports that they resubmitted a revised application on August 12 to the PBGC, and expects a decision within 120 days (by December 10). A favorable decision is all but assured, so the needed funds to protect all pensions at least through 2051 will follow. This delay should not cause any interruption in pension payments, as the Fund has sufficient money on hand for a few more years.