Senators Chuck Grassley (R-Iowa) and Lamar Alexander (R-Tenn) have introduced a pension bill, the “Multi-employer Pension Recapitalization and Reform Plan,” to deal with the crisis affecting millions of retirees, surviving spouse, and active workers in some 125 pension plans.

The second quarter financial report of the Central States Pension Fund shows $12.9 billion in assets, compared to $13.2 billion at the end of 2018. The funds assets have declined $289 million in six months.

Yesterday, the U.S. House of Representatives passed HR 397 – the Butch Lewis Pension Act. The vote comes following five years of intensive organizing by hundreds of retired and active Teamsters who worked to protect the pensions they earned. This grassroots effort was spearheaded by the National United Committee to Protect Pensions. The committee eventually garnered the support of the IBT, Central States, and a range of elected representatives. TDU helped initiate this effort in 2014.

HR 397 – The Butch Lewis Act is expected to be voted on in the House of Representatives on Wednesday, July 24. Teamsters and allies are asked to call their House representative and ask them to vote YES on the bill. Click here for The House switchboard directory. The National United Committee to Protect Pensions will have Teamster activists present in the House Chamber when votes are cast.

Teamsters and retirees who are asking Congress to pass legislation in the house and senate to protect earned pensions can download information on your state and congressional district, using this updated detailed economic impact chart. 

The Central States Pension Fund ended 2018 with assets of $13.2 billion, a loss of $1.8 billion for the year, according to the fourth-quarter Financial and Analytical Report.

Teamster members at Central States are back to work after a two-day strike. The contract dispute showed the best and worst of our union.

Update: Teamster employees who work for TeamCare and the Central States Pension Fund have gone on strike after rejecting a proposed contract for the fifth time. Five rejections! The vote was 180-171.

The 400 Teamster employees of Teamcare and the Central States Pension Fund are fighting concessionary demands from our union health and pension fund.

The 2018 third quarter Financial and Analytical Report on the Central States Pension Fund shows that the Fund continues to bleed money, underscoring the importance of Congressional action this year to protect the pensions of millions of working families.