Union Pension Turmoil

Union Pension Turmoil

A new report released by Cherion, a Virginia consulting company, estimates 114 multi-employer pension plans are underfunded by $36 billion and are expected to go insolvent within two decades. In addition, the Pension Benefit Guaranty Corporation has announced that its...

Union Pension Turmoil

In New York, 34,000 Teamsters could soon vote on a plan approved by the Treasury Department to introduce cuts to pension benefits, which would take effect Oct. 1st. Even if the participants vote “no,” the Treasury Department could allow the cuts to go through anyway...
Union Pension Turmoil

Union Pension Turmoil

The New York State Teamsters Conference pension fund withdrew their application to cut pensions after getting information that hinted their first application would be denied. While this doesn’t mean the 5,200 active and retired Teamsters members in New York are in the...