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How Certain Teamster Pensions Funds May Try to Cut Pensions

March 03, 2015
March 3, 2015: The Central States Pension Fund and several smaller funds in the months to come may seek to cut the earned benefits of retirees and active Teamsters. Teamster members have a right to know what the procedures would be, so that we can be better armed to fight back. A detailed outline of the procedure and timeline is available here for review by concerned members and retirees. This outline explains that the process...

Retirees Facing Severe Pension Cuts

February 24, 2015
Ted Hart NBC February 24, 2015 View the original piece Whit Wyatt of Washington Court House worked as a teamster truck driver for 33 years. Now Whit and his wife Barb have a comfortable retirement living on Whit's teamster pension and social security. But Wyatt is one of hundreds of thousands of union retirees who may soon see severe cuts to their monthly pension checks. “I've planned my life around my guaranteed pension and it...

Union retirees fear dramatic pension cuts under new federal law

February 16, 2015
Jim Mackinnon Ohio.com February 16, 2015 View the original piece Bill Hendershot and his wife live on his union pension and Social Security. Hendershot, a retired Consolidated Freightways long-distance truck driver, gets around now in a 12-year-old Toyota Corolla. The couple still pay a mortgage on their home in Canal Fulton. And he’s among a huge group of union retirees nationwide who could see their monthly private pension payments cut as much as 60 percent...

Multiemployer plans untangle reforms

February 10, 2015
Hazel Bradford Pensions & Investments February 10, 2015 View the original piece Some multiemployer pension fund executives are trying to figure out whether to take advantage of a controversial new reform law that allows potential benefit cuts for participants and retirees. Others are hoping for further reforms to allow for alternative plan designs. The Multiemployer Pension Reform Act of 2014 — passed swiftly in December — allows deeply underfunded plans to take unprecedented steps to...

Ohio Teamsters Gear Up for 2016 Election

February 04, 2015
February 5, 2015: Teamsters in Southern California held a packed meeting to build a campaign to elect new International Union leaders. Next up: Columbus and Cleveland, Ohio on Feb. 21-22. Teamsters in the Midwest have been hammered with contract concessions and the threat of pension cuts. Now members are coming together to organize for new leadership and a new direction for our union. Members are holding meetings to gear up for the International Union election...
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