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Insurer Warns Some Pooled Pensions Are Beyond Recovery

July 01, 2014
Mary Williams Walsh The New York Times July 01, 2014 View the original piece More than a million people risk losing their federally insured pensions in just a few years despite recent stock market gains and a strengthening economy, a new government study said on Monday. The people at risk have earned pensions in multiemployer plans, in which many companies band together with a union to provide benefits under collective bargaining. Such pensions were long...

The United States, on the verge of a retirement crisis

June 30, 2014
The Yucatan Times June 30, 2014 View the original piece “For retirement, the answer is 4-0-1-k,” proclaimed Tyler Mathisen, then editor of Money magazine in 1996. “I feel sure that someday, like a financial Little-Engine-That-Could, it will pull me over the million-dollar mountain all by itself.” For this sentiment, and others like it, Mathisen was soon rewarded with an on-air position at financial news network CNBC, where he remains to this day. As for the rest of...

Central States Fund: $18.7 Billion

June 20, 2014
June 20, 2014: The overdue year-end 2013 report on the Central States Pension Fund shows that it grew by $1 billion to $18.7 billion on the rising stock market. However the report stresses the fund trustees’ goal of changing federal law to allow them to cut the pensions of current retirees, and active Teamsters with earned vested pensions. The Teamster officials who are trustees are at odds with the official position of the International Union,...

Sign the Petition to Protect Our Pensions!

June 16, 2014
June 16, 2014: Teamsters, along with many other groups, are fighting back against a proposal Congress is considering to allow troubled pension funds – like the Central States Fund – to slash existing benefits. You can help by signing a petition to the U.S. House of Representatives Education and the Workforce Committee. Help preserve the federal anti-cutback law to protect our pensions. Click here to sign the petition. Call TDU: 313-842-2600 to get petitions to...

Central States Big Wig Calls for 30% Benefit Cut

June 13, 2014
June 13, 2014: Al Nelson, the Benefits Services Director of the Central States Pension Fund, told Minneapolis Teamsters that he favors a 30 percent across-the-board benefit cut for every current retiree and every active Teamster in the fund. Nelson announced this position at a Local 120 meeting on June 6, where he was giving a report on the Central States Pension Fund. He elaborated that if the 30 percent cut is not made, the situation...
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How Rank & File Power Dramatically Changed Teamster Finances

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CEO salaries have exploded over the last forty years. But salaries and perks for top Teamster officials have been reduced over the same period. Teamsters for a Democratic Union (TDU) and rank-and-file Teamsters made it happen. Here’s how.

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