Trustees of the financially-strapped Teamsters Central States multiemployer pension fund have told union leaders they plan to rely on the Multiemployer Pension Reform Act of 2014 to make cuts to existing retiree pensions.
It is the first such formal action by a multiemployer plan since the law was adopted by Congress.
The Central States Pension Fund covers the retirement benefits of about 410,000 current and retired union members.
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