Friday, April 22, 2016

Truckers' Pension Could Be Cut For Retirees Soon

Chronic mismanagement and rising interest rates will push many public pension funds towards or to insolvency after 2016. State and local budgets, deteriorating rapidly as the US economy enters the liquidation phase either by late 2016 or 2017, will pit the public sector against the private sector in rumble not seen since the Thriller in Milla (Ali v Frazier 3).

Headline: Truckers' pensions, one of the nation's largest, could soon cut benefits for retirees

More than a quarter of a million active and retired truckers and their families could soon see their pension benefits severely cut — even though their pension fund still is years away from running out of money.

Within the next few weeks, the Treasury Department is expected to announce a crucial decision on whether it will approve reductions to one of the country's largest multi-employer pension plans.



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