Sen. Charles Grassley, R-Iowa, has requested the Government Accountability Office investigate the Department of Labor’s oversight of the Teamsters Central States, Southeast and Southwest Area Pension Plan.
In 1982, the DOL entered into a court enforced consent decree with the Central States fund to assure that it was being managed for the sole benefit of plan participants, as required under the Employee Retirement Income Security Act.
Almost from the point of its inception in 1955, the pension fund was dogged by allegations that assets were routinely loaned to organized crime interests, often to several Las Vegas casinos, and that Jimmy Hoffa, the famed Teamsters boss, received kickbacks from providers to the funds.
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