Teamsters Local 89 has submitted our comments on the Central States Pension Fund (CSPF) Rescue Plan to the Treasury Department.
The stance of Local 89 remains that this rescue plan fails in its purpose to make the CSPF fully solvent. It also acts as a huge disservice to our existing and future retirees, many of whom would see outrageous cuts of up to 50% or higher to the pensions they worked hard to earn. As such, we have asked the Treasury Department to deny this rescue plan. This plan would not only severely hurt our current and former members, but would also act as a standard to allow drastic cuts for hundreds of other multiemployer pension plans across the country.
Teamsters Local 89 rejects this path and the broken promises it represents, and urges that the Treasury Department do the same.
Update: You can view the letter Local 89 sent to the Treasury Department by clicking the link below.