Central States Pension
Government, Business

About 114 Multiemployer Pensions in Deep Trouble

About 114 multiemployer pensions covering more than 1 million workers are due to run out of money within the next two decades, but the overall state of the system is healthy, according to reports from two actuarial consulting firms.

Ari Ashe | Staff Reporter
August 29, 2017
Government, Business

Pension Woes Getting Worse for Federal Agency Protecting Benefits

The Pension Benefit Guaranty Corp.’s multiemployer pension insurance program will run out of money by the end of 2025, according to a new report from the government agency in charge of taking over troubled plans such as the Central States Pension Fund.

Transport Topics
August 11, 2017
Government, Business, TCA

Washington Tunes Into Fixes for Teamsters’ Failing Central States Pension

Teamsters rally at Capitol Susan Melkisethian/Flickr

Secretary Steven Mnuchin met last week with 25 Teamsters retirees from groups in 15 states. They included Tom Schwarzenberger, who said the focus on possible solutions to the pension’s funding shortfall marked something of a milestone.

Mark Davis | The Kansas City Star
July 18, 2017
Government, Business

Teamsters to Meet With Mnuchin on Central States Pension Fund

U.S. Treasury Secretary Steven Mnuchin Andrew Harrer/Bloomberg News

A group of 25 Teamsters pensioners will meet July 11 in Washington with U.S. Treasury Secretary Steven Mnuchin about failing pension plans.

Mark Davis | The Kansas City Star
July 10, 2017
Government, Business

Central States Won’t Create New Pension Rescue Plan, Appeals to Congress for Help

Drew Angerer/Bloomberg News

The Central States Pension Fund has decided not to submit a new rescue plan to avert future insolvency, leaving the question of funding future pensions for its Teamster members in the lap of Congress.

Rip Watson | Senior Reporter
May 20, 2016
Government, Business

Financial Woes of Teamsters' Central States Pension Fund Hurt Employers, Too

Bradley C. Bower/Bloomberg News

The 225,000 people facing possible cuts in their retirement benefits are the most numerous and visible victims of the Central States Pension Fund troubles. But the fund's deep financial woes also have left hundreds of companies with large potential liabilities, essentially because they have survived where others failed.

Rick Romell | Milwaukee Journal Sentinel
December 14, 2015