Pensions & Benefits

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IBT Needs Plan for Countering Employer Attacks on Benefits

December 5, 2005: Employers across North America are attacking the pension and medical benefits of working Americans. Union and non-union workers are being hit with larger co-pays, cuts in benefits, or worse. Our union needs a clear plan of action for protecting and improving benefits for all Teamsters. The employers have a plan. Our union leadership doesn’t. That’s why we are being pushed backward now. Local Unions — and many benefit plans are local, or...

Central States Fund Trustees Keep Pension and Health Care Cuts In Place

December 5, 2005: Hoffa’s PR Man dismisses the impact of the trustees’ actions: “Leebove said the changes at Central States and other pension funds should not be looked at as benefit cuts, since no accrued benefits were lost. Instead, he said, they represented reductions in future accruals that were designed to ensure the trusts are financially solvent for years to come."–Bureau of National Affairs November 9, 2005 The Union Trustees of the Central States Pension...

Battle Against Cut-Back Provision Will Move Into 2006

December 5, 2005: In November, the Senate passed a version of pension reform that did not include provisions for cutting accrued benefits. That was a positive step forward in a battle that has largely been waged by two groups, the Pension Rights Center and th grassroots Central States Pension Improvement Committee (CSPIC). In December, James Hoffa came out in opposition to the “Red Zone” cut-back amendment, at least in writing, after supporting it for most...

Central States Cuts Locked in Place for Year

December 1, 2005: The Union Trustees of the Central States Pension Fund have announced an agreement with employers and the IRS that will lock the 2003 pension cuts in place for years to come. Even worse, this deal will usher in more healthcare reductions—and lower wage increases when contracts are renegotiated. At a November 8 meeting of union officials International Vice President and Trustee Chairman Fred Gegare told stunned officials that union trustees have put...

Teamster Leader Beats Employer Move to Slash Pensions

November 1, 2005:When employer and union trustees colluded to cut their pensions, Teamster members in New York Local 805 fought back. First, they elected new local officers who sued the employer trustees. Now, they’ve scored a major victory for pension justice. Local 805 President Sandy Pope has finalized a settlement that reduces the pension cuts, raises members' pension accrual retroactively, and institutes sweeping reforms in how the pension plan is run. In December, the Employer...
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Central States Fund Ended 2017 with $15.0 Billion

The year-end Central States Pension Fund financial report has been obtained by Teamsters for a Democratic Union (TDU), and shows that the Fund ended 2017 with $15.0 billion in assets. This is down from $15.27 billion one year earlier; the loss of $267 million during 2017 was modest, due to the run-up in the stock market.

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