Jump to content

Central States Teamsters pension collapse


Recommended Posts

Hey all:


Just down the way from me there is a big hearing on the Central States Teamsters pensions today at Wayne State.  Turns out their pension system is bust.  Most retirees are going to take at least 1/2 cut in their pension.


I read up a little bit about it, and was shocked by what I found out.  They have about $17 billion in assets with 440k (220k retired) members.  That is only $42,500 in assets per member!  Most of their pensions are paying out at $3k per month!


Simply shocking...I don't see how they even maintain the pension after 1/2 cuts.  Lots of people are going to be hurt bad.  It is unfortunate, but I don't see any other way.  There simply is no money...


Anybody hear/know anything about this?

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Create New...