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New England Teamsters Hit with Pension Cuts

July 27, 2005: Teamsters in New England reacted angrily when the New England Pension Fund announced new benefit restrictions—including eliminating 25-and-out and 30-and-out pensions before age 57. The changes were announced on July 15, just two weeks after the fund announced that its assets grew for the second straight year. In all, the fund’s assets have grown by more than $429 million in the last two years. The pension cuts come despite James Hoffa’s promises...

Hoffa Pushes Pension Bill That Could Cut Your Benefits

July 27, 2005: On June 29, a congressional committee passed a pension bill that would endanger Teamster pensions by making it easier for multi-employer plans to cut retirement benefits. The misnamed “Pension Protection Act” contains a dangerous provision that would allow troubled pension plans to cut benefits that members have already accrued—and even cut the benefits of Teamsters who have already retired for less than one year. Under current laws, these cuts are illegal. Only...
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