Here’s what’s really being missed in most snapshot explanations of Detroit’s bankruptcy: the unprecedented hit being taken by retirees who believed that, after working throughout their lives, they would be secure in their old age.
Pension and Benefits
TDU in Action—Pension and Benefits
“TDU will support any fight launched by the International Union to defend our benefits. And we will continue to inform members so we can put pressure on the employers and on Hoffa, when necessary, to save and strengthen our benefits.”
K.W. Phillips, Roadway
Local 667, Memphis, Tenn.
Pension Workshops: Our Rights, the Benefit Cuts and How We Can Beat Them
TDU brings together concerned Teamsters and pension experts to share information and build a movement to restore our benefits and strengthen them for the future.
Pension and Benefits Newswire
Coverage of the midterm elections has, understandably, focused on the shift in political power from Democrats toward Republicans. But behind the scenes, another major story has been playing out. Wall Street spent upwards of $300M to influence the election results. And a key part of its agenda has been a plan to move more and more of the $3 trillion dollars in unguarded government pension funds into privately managed, high-fee investments — a shift that may well constitute the biggest financial story of our generation that you’ve never heard of.
Could it be that the vast majority of the country’s multiemployer pension plans are in fine shape?
November 18, 2014: Unless we act now, Congress may end up cutting a legislative deal by year’s-end to allow pension plan trustees to slash the already-earned benefits of retirees as a purported way of saving deeply-troubled multiemployer plans.
October 24, 2014: The new Health Plan covering UPS Teamsters in the Southwest and New Jersey Local 177 is improving health benefits. Why won’t TeamCare?
Over the past two weeks, UPS Teamsters in most of the West and in New Jersey Local 177 got some good news in the mail: their health and welfare fund is improving benefits.
She is more than 105 years old and still collecting pension benefits from the Teamsters Central States, Southeast & Southwest Conferences Pension Fund.
September 25, 2014: More ground deliveries should mean more full-time jobs—and more participants in Teamster pension funds. But a review of pension data shows what’s happening is just the opposite. As ground volume has grown in recent years, the number of full-time jobs has fallen.
August 15, 2014: The Central States Pension Fund has given YRCW an extension until 2019 to repay $109 million that YRC owes the pension fund.
More than a million people risk losing their federally insured pensions in just a few years despite recent stock market gains and a strengthening economy, a new government study said on Monday.
“For retirement, the answer is 4-0-1-k,” proclaimed Tyler Mathisen, then editor of Money magazine in 1996. “I feel sure that someday, like a financial Little-Engine-That-Could, it will pull me over the million-dollar mountain all by itself.”