Central States Pension Fund Green-Lit to Apply for Assistance

There is new progress in the hard-fought battle to protect pensions for millions of retirees. On April 1, 2022 the Central States Pension Fund got the green light to apply for funds under the Butch Lewis Act.

With those funds, Central States is expected to remain solvent and continue paying all benefits through at least 2051, and likely longer.

Central States is one of about 200 plans expected to submit applications for assistance. Applications are reviewed by the federal Pension Benefit Guaranty Corporation (PBGC).

The PBGC first prioritized funds that already slashed benefits due to insolvency. Now it’s Central States' turn.

Central States Pension Fund will submit their application for assistance by the end of April. The PBGC has up to 120 days to review an application, so Central States expects a decision from the body in August.

After that, the PBGC has committed to make payments within 60 to 90 days of approving an application. In other words, the Fund should receive Special Financial Assistance payment by the end of 2022.

The pension restorations result from the passage a year ago of the Butch Lewis Act, which was included in the American Rescue Plan Act.

Butch Lewis was a retiree who organized and advocated until the day he died to win the protections. His legacy is the pension victory for millions of workers.

Lewis was a Holland driver, a former president of Local 100, and a member of the TDU Steering Committee.

Read the official update from the Central States Pension Fund.

Get Advice Join TDU Donate

Recent News

UPS Teamsters United Zoom Event: Moving from Problems to Solutions

Join a UPS Teamsters United national zoom event to talk about how we can move from problems to solutions in upcoming negotiations and how you can get involved in the UPS contract campaign, Sunday, October 16 at noon ET / 11am CT / 10am MT / 9am PT.

Rank-and-File UPSers Share Sample Contract Proposals

Rank-and-file UPSers have compiled sample contract proposal ideas for the National Master Agreement. Click here to see what they've come up with. And make sure you attend your local union’s proposal meeting.

View More News Posts