Over 500 people attended an event last night at Wayne State University regarding the proposed cuts to the retirees pensions of the Central States fund.
via The Detroit News,
by Candice Williams, detroitnews.com,
February 8, 2016,
More than 500 people filled a public hearing Monday to speak out on proposed benefit cuts to one of the largest Teamster pension funds, which includes 30,000 members in Michigan.
Many were angry over the proposal; some were resigned but spoke out in hopes of stemming the hardship.
The Central States Pension Fund has said reductions in current and future retiree pensions, between 60 percent to 70 percent, are needed, and without them, more draconian cuts would be necessary in the future.
At least one retiree wondered who would be around for the more severe cuts.
“If they get this plan passed, who would want to join Teamsters when they just screwed 100,000 retirees?” said Fred Bora. “It’s going to have a bigger fallout. It’s really going to go down hill. We’re still going to get the short end of the stick.”
If approved, the proposal would affect 273,000 current and future retirees.
Bora, 70, of Riverview, was among the many active and retired Teamsters from all over Michigan who gathered at Wayne State University to voice their concerns over the cuts, which the Central States Pension Fund warned must be made when filing for reorganization in September. In documents government officials posted online, officials have described the fund as in critical and declining status.