Central States Fund Ended 2017 with $15.0 Billion

The year-end Central States Pension Fund financial report has been obtained by Teamsters for a Democratic Union (TDU), and shows that the Fund ended 2017 with $15.0 billion in assets. This is down from $15.27 billion one year earlier; the loss of $267 million during 2017 was modest, due to the run-up in the stock market.

STOP-THE-RUSH-BANNER_thumb.jpgThe financial report and the report of the Independent Special Counsel report that:

  • The fund’s overall investment return in 2017 was 12.7%; this high rate of return generated $1.8 billion. The fund’s returns would have been even higher, but due to declining assets, the fund has reduced its stock holdings from about 65% down to 42%, and heading toward 33% of assets in stocks, with the rest in bond holdings.
  • Without supportive legislation, the fund is projected to become insolvent in eight years.
  • The fund made a settlement with the Kroger Corporation, to allow Kroger to withdraw from the pension fund; Kroger will pay the fund $467 million to settle the withdrawal liability claims. The Hoffa administration continues to allow employers to exit the fund, diminishing the number of companies paying into it. The fund blocked the deal between Kroger and the IBT, but has now settled Kroger’s court case. The $467 million will be a one-time boost in assets to the fund.
  • The fund has 58,000 active participants and 201,000 retirees and surviving spouses receiving pensions.

Documents available to members:

The Special Counsel fourth quarter 2017 report.

The fourth quarter Pension Fund Financial and Analytical Report.

The fourth quarter H&W Fund Financial and Analytical Report.

Get Advice Join TDU Donate

Recent News

Getting Out the Vote for O'Brien-Zuckerman Teamsters United

The ballots are out and we’re on the verge of making history. As of Friday, 51,300 ballots are in. That means the vast majority of members who will vote in the election have not voted yet. Here are five things you can do right now to get out the vote.

Teamster Insurgents Could Win Their Union Election

One of the most common sentiments repeated by workshop leaders at the TDU convention was, ​The real fight is about to begin after we win.” — By Ryan Haney (reprinted from In These Times & Labor Notes)

View More News Posts