(WASHINGTON) – The Teamsters are calling on the House Education & Workforce Committee to go back to the drawing board rather than move forward with newly proposed legislation that changes pension funding rules to create “composite” multiemployer plans, saying they are a bum deal for both active participants and retirees.
The pension fund representing hundreds of thousands of truck drivers and warehouse workers won’t make a second bid at overhauling one of the nation’s largest multiemployer retirement plans, according to the group’s executive director, following a Treasury Department rejection of its original turnaround plan.
Too many workers lack security when it comes to living out their golden years.
Treasury Department sides with Teamster workers, retirees. But the final verdict on pension reform is far from certain.
(WASHINGTON) – Today, the Department of Treasury announced its decision to deny the Central States, Southeast and Southwest Areas Pension Fund (CSPF) application to cut the pensions of thousands of Teamsters Union retirees. The union applauds this decision, and will continue to work with members of Congress to find a solution to the pension crisis.
A bipartisan collection of lawmakers are taking a stand against make drastic cuts to Central States Pension Fund.
Teamsters held a massive rally on Capitol Hill in DC to tell Congress to step in and #protectpensions. The Treasury Dept. must reject the Central States plan to cut retiree benefits and Congress must act now to reverse the damage done by the Multiemployer Pension Reform Act. Check out the video of Sen. Elizabeth Warren speaking to Teamsters.