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Teamsters Rank-and-File Dig In Against Possible Pension Benefit Cuts
Logistics Management
July 10, 2014 "Teamsters retirees from the trucking industry currently enjoy some of the most generous pensions in America -- up to $3,500 a month for 30 years of service from any unionized trucking company that contributed to multiemployer pension plans that once covered the industry like a warm fuzzy financial security blanket. But those pension plans, once thought to be the 'Cadillac' of all retirement plans, are in deep financial trouble.... The issue is acute because the Pension Protection Act of 2006, which prohibits any benefit cuts in troubled pension plans, is due to sunset at the end of this year." MORE >> |
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