Soon after the Treasury Department announced it was rejecting the Central States Pension Fund’s application to cut retiree benefits in a bid to stave insolvency, the International Brotherhood of Teamsters and their supporters were quick to applaud the decision.
For Teamster members, an approval of the application would have meant pension cuts for roughly 270,000 members, beginning as early as this July.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
