In this week’s “Something to Think About” David talks about Congress passing legislation in 2014 to help insolvent multi-employer pension plans save themselves. Central States pension fund which covers 400,000 Teamster workers and retirees is one of the plans that is insolvent and which did try to save itself. However, the Treasury Department blocked Central State’s plan to cut benefits within limits. Why did the Treasury Department block the plan? What is the next step to save the pension plan? Central States has already asked Congress to cover its $11 billion shortfall. Will the taxpayers be paying the Teamster pensions? President Obama signed the law to provide a path to save the pension, but now the Treasury Department blocks that path?
