Treasury rejects Teamster pension cuts

2016-05-06T21:06:46-07:00May 6th, 2016|Categories: Pension Funding|Tags: , , |

The U.S. Treasury Department has rejected the deep retirement cuts sought by the ailing Teamsters Central States Pension Fund, to the cheers of more than a quarter million trucking retirees and workers around the country. The government’s decision Friday does nothing to solve the dire financial problems of the Central States fund, which faces insolvency in 10 years. Some say the retirement fund’s only hope is a federal bailout. Kenneth Feinberg, the administrator appointed by Treasury to implement the [...]