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Congress, Hoffa Butcher Teamster Pensions

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. The legislation guts federal pension protections and will pave the way for pension cuts in the Central States Pension Fund. Teamsters have questions and deserve answers. TDU lays out what the bill means for Teamsters in our Frequently Asked Questions.  The biggest question of all may be: how did Hoffa...

Will the Central States Big Shots Take a Cut?

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.  We propose some small measure of equality of sacrifice, which is a basic principle of the labor movement.   The executives of the Central States Pension and Welfare Funds should take a 30% cut, to...

Urgent: Congress to vote today on pension cuts

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. Click here to contact your members of congress and tell them to strip the pension cut ammendment from the omnibus bill. Sign up for email updates...

Congress' backroom pension-cutting deal is even worse than expected

Michael Hiltzik Los Angeles Times December 11, 2014 View the original piece 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. We've tracked this inexcusably hasty, secretive maneuvering during the last week, reporting that it allows extreme, potentially premature cuts in benefits for retirees who are members of multi-employer pension plans. Such plans...

Rep. Kline's proposed cuts catch pensioners by surprise

Jim Spencer Star Tribune December 11, 2014 View the original piece 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. On Wednesday, Erickson learned that those benefits might be cut under a provision that Minnesota Rep. John Kline aims to tack onto the new federal budget bill. Click here to read more at the Star Tribune.
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