July 1, 2010: A bill that could provide help to troubled pension plans is now stalled in the U.S. Senate, but it could still move forward this year, with a push from below. The Create Jobs & Save Benefits Act (S 3157), sponsored by Senator Robert Casey (D-Pa), would allow multiemployer plans to segregate the benefit liabilities attributable to participants of bankrupt former employers who pull out of the program without funding their withdrawal liability....

June 15, 2010: The New York State Teamsters Pension Plan will end 25-and-out and 30-and-out benefits at the end of the year, due to the fact that the plan is underfunded and in the “red zone.” According to the Fund’s Annual Funding Notice, dated April 30, 2010, the fund was 57 percent funded at the beginning of 2009. This puts the fund in Critical Status, called the red zone. With the run-up in the stock...

June 2, 2010: Goldman Sachs has resigned from its fiduciary position of managing several billion dollars of investments for the Central States Pension Fund. The fund now plans to use just one money manager, Northern Trust Global Advisors, and also plans to shift more investments to passive management, or index accounts. This information is contained in the fund’s quarterly Financial and Analytical Report (which is available only on TDU.org) and the Report of the Special...