Senator urges Teamsters to learn of pension changes

Via WYTV,

By Amanda Smith, WYTV

May 14, 2015

U.S. Sen. Sherrod Brown said Teamsters’ pensions are at risk.

Brown, D-Ohio, said retirees need to have plenty of information to understand the changes coming in the next few years. Last year, Congress approved a law that would allow the Central States Pension Fund to cut benefits being paid to current retirees.

That is the fund that manages the pension plan for the Teamsters union. Thousands of Teamster retirees could see their pensions cut to about $13,000 a year.

The senator said he does not want a repeat of the confusion that happened when Delphi retirees saw their pensions change.

“We want to make sure they are at the table, that these decisions are not made in some far away place with no input from those who are actually the pensioners. Far too many people in this country have seen their pensions erode,” Brown said.

Delphi pensions moved over to the Pension Benefit Guarantee Corp. in 2009. Retirees also lost their health care benefits.

Read the full article.

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