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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.

Pension Fund Run By Wall Street Cited In Push To Cut Retiree Benefits

Matthew Cunningham-Cook International Business Times December 11, 2014 View the original piece Six years after the financial crisis, the economic aftershocks are still rattling the halls of Congress -- this time in a debate over an esoteric pension provision tucked into an end-of-year budget bill. Though that legislation, known as the “cromnibus,” is supposed to be about annual appropriations for government agencies, lawmakers have inserted language that would give private pension plans the power to...

Congressional leaders hammer out deal to allow pension plans to cut retiree benefits

Michael A. Fletcher The Washington Post December 10, 2014 View the original piece 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. The measure, attached to a massive $1.01 trillion spending bill, would alter 40 years of federal law and could affect millions of...

HOS Suspension Included In $1 Trillion Omnibus Bill

Eugene Mulero Transport Topics December 10, 2014 View the original piece A provision that would suspend parts of an hours of service rule has been included in a $1 trillion bill congressional lawmakers plan to advance to President Obama’s desk this month to keep federal agencies funded through fiscal 2015. The provision, offered by Sen. Susan Collins (R-Maine), would suspend for a year a requirement that drivers take off two consecutive periods of 1 a.m....
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Recent News

Central States 2020 Financial Report Shows: Pension Protection Comes Just in Time

The 2020 financial report of the Central States Pension Fund shows that the passage of the Butch Lewis pension relief act comes just in time to prevent drastic pension cuts, and to protect all earned pensions for decades to come.

UPS Freight FAQs

The IBT posted a letter from UPS Freight to all locals addressing a range of questions raised by members concerning the recent sale to TFI. The letter confirms that TFI will adhere to contract provisions and pension requirements. Those Teamsters not yet vested in the pension will not lose their accrued time. UPS Freight Teamster members and stewards need to continue to monitor and enforce the contract during the transition. 

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