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Teamster Pensions Go Off Road
Pittsburgh Post-Gazette 
Oct. 19, 2015 "Central States is the poster child for underfunded pension plans. According to the fund's 2014 annual report, it has projected assets of about $17 billion to cover projected liabilities of $35.2 billion. Whereas four workers generated employer contributions that supported one retiree in 1980, today one worker supports five retirees. Executive director Thomas Nyhan said the fund pays $3.46 in benefits for every $1 dollar employers contribute, a pace that is expected to drain the fund within 10 years." MORE >> |
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