Via the Star Tribune,
APRIL 8, 2015The financially strapped Teamsters Central States Pension Fund will pursue benefit cuts to retirees — including thousands in Minnesota — under a new federal law co-sponsored by Rep. John Kline, R.-Minn.
At a meeting in a Chicago suburb Wednesday, the fund’s trustees told union leaders from across the Midwest that they will pursue a “rescue plan,” said Trevor Lawrence, secretary-treasurer of Teamsters Local 638, which represents workers in Minnesota and North Dakota.
“Everybody came out thinking there will be cuts,” said Lawrence, who attended the meeting. “I don’t think anybody was happy. But the people in the room understood if you don’t do something now, the cuts will be deeper later.”