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Nyhan’s Fast-Track: What’s Behind the Curtain

April 15, 2015: Central States Pension Fund Director is giving the hard sell on his fast-track pension cuts, but withholding all the information members need to formulate alternatives. He states the plan will go broke in exactly 11 years, and says we cannot question his facts. Where does he get this figure? And why hasn’t it changed as the fund’s assets have gone up? Taking the fund’s current level of employer contributions and benefit pay-out,...

Central States Drops Pension Cut Bomb

April 15, 2015: The Central States Pension Fund has launched a PR offensive to sell their fast-track pension cut plan as the only way to “rescue” members’ retirement. Teamster members and retirees are demanding a review by independent actuaries and consideration of alternative proposals before the cuts are imposed. Central States Director Thomas Nyhan pitched his plan in a letter and national conference call, calling for deep cuts on a fast track with no amendments...
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