The New York State Teamsters Conference Pension and Retirement Fund has withdrawn the MPRA application for benefit cuts as a result of concerns raised by U.S. Treasury. 

Over the past three years, the Teamster pension protection movement has done a tremendous job: this grassroots movement stopped the Central States from slashing pensions, caused an investigation of the fund, and built political support far and wide. But can we win real pension protection? We think we can.

The Pension Rights Center has issued a letter opposing proposed Senate resolutions that will halt millions of private sector workers from saving for retirement. Many states have passed legislation that allows for low-cost savings plans for employees who do not have access to a pension or a 401(k). The Senate resolutions would overturn a Department of Labor rule that allows cities and states to enable employers to offer low-cost savings plans. 

The notice of critical status addressed to 72,000 participants in the New England Teamsters Pension Fund dropped a potential bombshell: the Fund’s Actuary certified to the Department of Labor that the plan is “critical and declining” and thus could possibly be subject to cuts for retirees and active Teamsters.

Under the "Hybrid" model, the Pension Fund sets up two departments: the traditional pension model and the new one with no employer liability.

Congressman Rick Nolan (D-MN) has invited Sherman Liimatainen, the Vice President and Treasurer of the National United Committee to Protect Pensions (NUCPP), to sit beside him when President Trump addresses Congress for the first time this evening. Nolan stated, “Make no mistake, there are powerful forces trying to do away with people’s pensions, and we will continue to fight them on every front…” 

The 3^rd quarter 2016 Independent Special Counsel Report shows that the Central States Pension Fund had $15.7 billion in assets of as September 30, 2016. This is down $400 million since the start of 2016, but up $100 million in the third quarter, due to a good run (5.3% gain for the quarter) in stock holdings and also in bond holdings (2.3%). 

Teamsters from the Missouri-Kansas City Committee to Protect Pensions rallied this week in Jefferson City, Missouri against "right-to-work" legislation.

The New York Times today has a feature report on the fight to stop pension cuts in the Teamster Upstate New York Pension Fund, led by brother Mark Greene, a UPS Teamster in Local 294.

Fast action by pension committees and our allies has beat-back a pension cut bill in Congress.