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Teamsters Launch Effort to Push Pension Relief
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 April 11, 2018 | RETIREMENT | On Tuesday, the union urged supporters to contact representatives and senators to boost the Butch Lewis Act, which would allow the Treasury Department to issue loans to struggling pension funds and establish an emergency fund within the Pension Benefit Guaranty Corporation, an independent agency that handles bankrupt retirement plans. The Teamsters face some of the largest liabilities in the country within its retirement plans, and its Central States fund has enough debt to completely wipe out the PBGC if it fails. At the local level it has witnessed several funds drain over the past several years, leaving members with steep cuts to their benefits. "There is a pension crisis in this country and Congress must resolve it as soon as possible to protect workers and our economy," the union said in an email… freebeacon.com
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