Central States Third Quarter Report: $15.7 Billion Assets

The 3rd quarter 2016 Independent Special Counsel Report shows that the Central States Pension Fund had $15.7 billion in assets of as September 30, 2016. This is down $400 million since the start of 2016, but up $100 million in the third quarter, due to a good run (5.3% gain for the quarter) in stock holdings and also in bond holdings (2.3%). 

financial_report_2_thumb.jpg

The Report states on page 6 that the Government Accounting Office (GAO) report on CSPF oversight is in process: fund documents have been turned over and staff questioned. It says that it is not known when a GAO report will issue.

The pension protection movement brought about that GAO investigation, with cooperation from Senator Charles Grassley of Iowa. We await the results.

The Report also details the suit sponsored by Kroger Corporation against the fund, to attempt to break away 7,000 participants, with the support of the International Union. The Fund is fighting the move in court.

The Financial and Analytical Report on the Pension Fund reveals the big problem for our pension fund: 59,179 active participants, and 203,500 retirees. Thus the fund projects employer contributions for 2016 of $768 million, while paying out $2.81 billion, for a deficit of $2.09 billion. That $2.09 could only be made-up with investments of $15.7 billion if the fund makes a whopping 13.4% annually.  

The Financial Report on the Health & Welfare Fund (TeamCare) shows an opposite picture. The fund continues to grow in assets, with the benefit payout well below the employer contributions for each quarter. 

Get Advice Join TDU Donate

Recent News

2025 TDU Convention: Register Now & Save $100

Our 2024 TDU Convention was our biggest ever with 600 registrants! Save your spot now to make sure you can attend the 2025 Convention.

UPS Profits: $2 Billion in Third Quarter of 2024, Volume Up

UPS released their profits and revenue financials yesterday for the third quarter of 2024, with higher than expected profits despite a slowdown in online sales in the United States.

View More News Posts