Pensions

Workers respond to Central States Pension proposed cuts

Sunday at Union Post 371, Teamsters met to make sure pensions they say were promised to them when they retired don’t get cut.

People say they’ve worked hard for this money, and that after so many years they’ve earned it.

“The way the economy is right now, every dime a person’s got when he retires is very important,” says Teamster Roger Haynes.

Central States Pension funds is one of the largest of its kind. And officials say they need to cut benefits for current and future retirees because if they don’t, money will run out in 10 years. Some cuts are up to 70 percent. That’s around $1,500 a month.

“People on a fixed income won’t be able to pay a utility bill or, God forbid, their car breaks down,” says Teamster Todd Peterson.

But the decision isn’t final until July 1st, 2016 and local Teamsters say it’s enough time to try and stop these changes from happening. The speaker at the meeting suggested people reach out to their legislatures, to spread the information to others and when the time comes to vote, to vote no.

Comment here