Local Teamsters Face Deep Pension Cuts

If You think this is Bad, then you should know that TriMet has nearly One Billion Dollars $$$ in Unfunded Pension and Health Care Liabilities. Over 400,000 Teamsters who have their pension funds managed by Central States Pension Fund could see some deep cuts. Workers received letters this week indicating they will see a reduction in their funds. Pension fund managers said the cuts are necessary because there is now only one teamster paying into the fund for every five retirees. Without the changes, the fund will be out of money in ten years. Just like PERS here in Oregon.


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