June 13, 2014: Al Nelson, the Benefits Services Director of the Central States Pension Fund, told Minneapolis Teamsters that he favors a 30 percent across-the-board benefit cut for every current retiree and every active Teamster in the fund.
Nelson announced this position at a Local 120 meeting on June 6, where he was giving a report on the Central States Pension Fund. He elaborated that if the 30 percent cut is not made, the situation could be even worse several years from now.
Not too long ago, Central States Fund officials were telling members there would be no cuts, and TDU was simply spreading scare stories. At least now they are starting to tell some of the truth about their plans.
Click here to sign a petition to stop the move to slash benefits.
“Central States claims they’re doing their best to preserve our pensions. But their best may not cut it because it still means reductions. We need to realize it’s going to take a political fight. We need to call, fax, email and visit our Congressional representatives’ home offices to demand that they deliver on protecting our retirement security.”Jeff Brooks, Murphy Warehouse retiree
Local 120, Blaine, Minn.
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