Pensions & Benefits

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How Did It Happen? Disastrous Pension Bill Is Now Law

January 8, 2015: Congress approved pension cut legislation in a sneak attack amendment to the budget bill. The fight to protect Teamster pensions is on. Teamsters and retirees are joining the Pension Justice Campaign.   Congress approved pension cut legislation in a sneak attack amendment to the budget bill.   The legislation guts federal pension protections and paves the way for pension cuts in the Central States Pension Fund and very possibly some other Teamster funds.   For 30 years, the anti-cutback rule has made it...

Organizing to Protect Our Pensions

January 9, 2015: Reckless Wall Street schemes tanked the economy and Teamster pension funds. Now Teamsters and retiree advocates are coming together to hold Wall Street accountable and take on pension cuts.   Congress attached to the end-ofyear spending bill a measure that undid 30 years of pension protections. More than one million workers, retirees and their families could see historic pension cuts over the next year or two.   This has sent shock waves across the USA.   The largest affected group is the 300,000...

UPS Profits From Pension Cuts

January 8, 2015: The lame duck Congress attached pension cut legislation to the end-of-year spending bill that will pave the way for the worst pension cuts in Teamster history. Leave it to UPS to find a way to make billions off this disaster.   UPS lobbyists fought for and won a special interest loophole that shifts $2 billion in the company’s pension responsibilities onto the backs of Teamster retirees in the Central States.   These retirees will now face even bigger pension cuts as...

Teamster “Orphans” Face Uncertain Future

January 8, 2015: The budget bill passed in December includes changes to pension law that will allow the Central States to make cuts to so called “orphans” like me. And there are many thousands of freight, carhaul, construction, warehouse, and other Teamsters just like me.   They label us “orphans” because some corporation closed up, despite our hard work.   Most current and retired freight Teamsters have worked for one or more companies since deregulation hit in 1980. I started out as a dump truck driver...

Editorial: A tale of two equities

Times Union December 30, 2014 View the original piece The recently passed federal spending plan allows big banks to renew risky trades and some pensioners' benefits to be cut. Click here to read more.
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