Tag: pension funds

Pension

Carpenters’ Union Alleges C.F. Bordo Failed to Pay Labor Fees

via Penn Record, by Annie Hunt, pennrecord.com, February 24, 2016, A Pittsburgh carpenter’s union is suing a Dunmore construction company, alleging failure to pay labor fees. Carpenters Combined Funds Inc., by administrator James R. Klein, filed a lawsuit Feb. 15 in U.S. District Court for the Western District of Pennsylvania against C.F. Bordo Inc., James Bordo, Ceaser F. Bordo and Leslie Bordo, alleging violations of … Continue reading Carpenters’ Union Alleges C.F. Bordo Failed to Pay Labor Fees

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FYI, Mid-America Pension Rights Project, Money and Finances, Planning for the Future, senior independence

Should I take a Lump Sum Pension Payout?

by Sandra Wisnewski, J.D., Director of the Mid-America Pension Rights Project Since 1998, the Mid-America Pension Rights Project (MAPRP) has been assisting clients with pension issues. One question that we frequently receive is whether or not to take a lump sum payout of a pension benefit. Some employers offer a one-time lump sum payment in lieu of a traditional life-time annuity option. This option can be a … Continue reading Should I take a Lump Sum Pension Payout?

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Mid-America Pension Rights Project, Pension

MAPRP and the Pension Benefit Guaranty Corporation

by Sandra Wisnewski, J.D., Director of the Mid-America Pension Rights Project Most of you may know that the Mid-America Pension Rights Project (MAPRP) assists clients with pension issues, but you may not know that the MAPRP works closely with the Pension Benefit Guaranty Corporation (PBGC). The PBGC is the government entity that insures most private pension plans when a plan terminates. One of the most … Continue reading MAPRP and the Pension Benefit Guaranty Corporation

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Pension

Hundreds Speak Out On Proposed Teamster Benefit Cuts

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 … Continue reading Hundreds Speak Out On Proposed Teamster Benefit Cuts

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Pension

Feds Reschedule Town Hall Forum on Teamsters Pension Cuts

Teamster town hall meeting rescheduled in Minnesota, via Star Tribune, by Jennifer Bjorhus, startribune.com, January 29, 2016, The U.S. Treasury Department has rescheduled the Minneapolis town hall meeting on proposed benefit cuts to the Central States Pension Fund to Tuesday, Feb. 9 at 4:30 p.m. at the University of Minnesota’s Coffman Memorial Union. The meeting was originally set for Jan. 25 but was postponed due … Continue reading Feds Reschedule Town Hall Forum on Teamsters Pension Cuts

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Pension

Teamsters Meet in Youngstown Over Pension Cuts

Update regarding the Ohio Teamster’s Pension, via WFMJ, by Danielle Cotterman, wfmj.com, January 31, 2016, Sunday afternoon, Teamsters from around the state packed a local union hall to discuss proposed pension cuts for thousands of workers who participate in the Central States Pension Fund. The meeting was held at Teamsters Local 377 in Youngstown. “Our dollars have gone away, I probably put $410-thousand plus in … Continue reading Teamsters Meet in Youngstown Over Pension Cuts

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Pension, Uncategorized

Second Multi-Employer Pension Plan Seeks to Reduce Core Benefits

via The National Law Review, by Jackson Lewis, natlawreview.com, January 13, 2016, On October 28, 2015 we reported that the Central States Southeast and Southwest Area Pension Fund, (“Central States”) one of the largest multi-employer pension plans in the country had filed an application with the Department of Treasury in which it sought to reduce core benefits under the Multiemployer Pension Reform Act of 2014 … Continue reading Second Multi-Employer Pension Plan Seeks to Reduce Core Benefits

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Pension, Uncategorized

House Members, UPS Call for Denial of Central States Rescue Plan

via pionline.com, by Hazel Bradford, Pensions&Investments, December 8, 2015, A benefit reduction application by the Teamsters Central States, Southeast & Southwest Areas Pension Fund, Rosemont, Ill., should be denied, 18 House of Representatives members told the Treasury Department in a letter to Kenneth Feinberg, the special master who is overseeing the suspension process created by the Multiemployer Pension Reform Act of 2014. The members said … Continue reading House Members, UPS Call for Denial of Central States Rescue Plan

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Mid-America Pension Rights Project, Pension, Uncategorized

Wayne County Shifts $10 Million Toward Pension System

via Detroit Free Press, by Eric D. Lawrence, freep.com, December 3, 2015, Wayne County’s underfunded pension system will get a $10-million boost. Commissioners approved a budget adjustment Thursday that would shift the money toward the county’s pension system, which is believed to be underfunded by almost $818 million. A report from Dwayne Seals, the commission’s chief fiscal adviser, said the extra money could add more than $44 … Continue reading Wayne County Shifts $10 Million Toward Pension System

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Pension, Uncategorized

Penn. Supreme Court to Hear Appeal of Charter School Ruling

via Citizen’s Voice, by Terrie Morgan-Besecker, citizensvoice.com, December 8, 2015, In a case with important statewide implications, the Pennsylvania Supreme Court agreed Monday to hear a dispute over whether a public school district can be held liable for unpaid pension contributions incurred by a charter school. The appeal, filed by the Pocono Mountain School District, challenges the state Department of Education’s deduction of $87,700 in … Continue reading Penn. Supreme Court to Hear Appeal of Charter School Ruling

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