December 15, 2014: The lame duck Congress has attached pension cut legislation to the end-of-year spending bill that will pave the way for the worst pension cuts in Teamster history.
Pension and Benefits
TDU in Action—Pension and Benefits
“TDU will support any fight launched by the International Union to defend our benefits. And we will continue to inform members so we can put pressure on the employers and on Hoffa, when necessary, to save and strengthen our benefits.”
K.W. Phillips, Roadway
Local 667, Memphis, Tenn.
Pension Workshops: Our Rights, the Benefit Cuts and How We Can Beat Them
TDU brings together concerned Teamsters and pension experts to share information and build a movement to restore our benefits and strengthen them for the future.
Pension and Benefits Newswire
December 13, 2014: Congress has officially passed the spending bill that includes pension cut legislation that was attached as an amendment to the budget bill.
December 12, 2014: Thomas Nyhan testified in Congress and lobbied hard – with our pension money and staff – to get the pension-cut bill passed. Now, he got his wish: a 163-page bill sneaked through Congress, tacked onto the budget.
December 11, 2014: We need your help NOW! The House is poised to vote on the omnibus spending bill, which includes provisions that would allow pension plan trustees to cut the hard-earned pension benefits of current retirees – as a purported solution to shoring up certain financially-troubled multiemployer plans.
At last the actual language has been released of the backroom, last-minute congressional deal allowing benefits of millions of retired workers to be shredded.
It's even worse than its critics anticipated.
Dave Erickson of Isanti, Minn., believed his pension benefits were guaranteed when he contributed a fixed portion of his pay into the Teamsters Central States Pension Fund.
A bipartisan group of congressional leaders reached a deal Tuesday evening that would for the first time allow the benefits of current retirees to be severely cut, part of an effort to save some of the nation’s most distressed pension plans.