400,000 Retired Trucking Teamsters May Get Pension Cut

November 5, 2015

The Central States Pension Fund is going to cut pensions by about half, come July 1st, 2016. If you are one of the 400,000 truckers who are covered by the Central States Pension Fund, you may want to start planning for this.

The U.S. Senate voted on this issue and passed it to save the fund, by allowing it to pay out reduced rates. Continued payout of full rates would have bankrupted the Central States pension Fund, and you can read all about the Pension Fund Rescue Plan that was voted on to keep pensions being paid out, at this link.

The Bernie Sanders Initiative

Senator Bernie Sanders has come up with an idea that will allow full pensions to be paid. Sanders has introduced a bill that would repeal the measure to cut pensions, and wants the government to step up to the plate and insure that pensions to retired truckers will continue to be payed in full.

It's called the "Keep Our Pension Promises Act," or KOPPA, and it is supported by James Hoffa of the Teamsters Union, and Senator Debbie Stabenow, a Democrat from Michigan.

This is Not Political

Sure, it may take a political act to keep the pensions to these truckers being paid in full, but pensions should not be political. Truckers have paid into the system for years and through their service, deserve the pensions they get. That was part of the deal when they signed on, and it should remain part of the deal for every retired trucker whoever moved on down the road.

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