The Central States Pension Fund has decided not to submit a new rescue plan to avert future insolvency, leaving the question of funding future pensions for its Teamster members in the lap of Congress.
May 20, 2016Government, Business
Central States Wont Create New Pension Rescue Plan, Appeals to Congress for Help
Business
Treasury Department Rejects Central States Pension Fund Plan to Cut Teamsters Benefits
The U.S. Treasury Department, through Special Master Kenneth Feinberg, has rejected Central States Pension Funds proposal to cut benefits for 270,000 Teamsters retirees, often by half, saying the plan presented to the government failed to meet the requirements of a 2014 law.
May 9, 2016Business
Four Ohio Trucking Companies Must Pay $3.4 Million to Central States Pension Fund
Four Ohio trucking companies must pay more than $3.4 million in withdrawal liability to Central States, Southeast and Southwest Areas Pension Fund, the U.S. District Court for the Northern District of Illinois ruled.
April 25, 2016Government, Business
Financial Woes of Teamsters' Central States Pension Fund Hurt Employers, Too
The 225,000 people facing possible cuts in their retirement benefits arethe most numerous and visible victims of the Central States Pension Fund troubles.But the fund's deep financial woes also have left hundreds of companies with large potential liabilities, essentially because they have survived where others failed.
December 14, 2015Business
Pension Fund Targets Fall for Disclosing Benefit Cuts
The troubled Central States Pension Fund, which includes about 200,000 retired members of the Teamsters union, now is targeting early fall to disclose how much benefits will be reduced under the requirements of a 2014 law.
August 31, 2015Business
Retired Teamsters May Face Pension Cuts Under Rules Included in Spending Law
Pensions for some of the hundreds of thousands of retired Teamsters members who worked for UPS Inc., YRC Worldwide and ABF Freight System could be cut under new rules contained in the federal spending law signed by President Obama last week.
December 22, 2014Business
Ridewell Launches New Trailer Suspension
Ridewell Suspensions said it is launching a new trailer suspension designed to reduce weight while maintaining overall durability.
September 5, 2014Business
Western Star Offers Neway ADZ Suspensions
Western Star Truck Sales Inc. is now offering Neway ADZ Series heavy-duty drive axle air suspensions by SAF-Holland as an option for its Western Star 4800, 4900 and 6900 truck models.
August 23, 2014Special Coverage, Business
Hendrickson Introduces New Severe-Duty Suspension
LOUISVILLE, Ky. Heavy-duty suspension maker Hendrickson International Corp. launched a new severe-duty rubber suspension Thursday that it said increases traction, decreases weight and provides a comfortable ride whether a vehicle is loaded or unloaded.
March 21, 2013Business
E&MU: Keep Air Spring Suspensions in Shape
Air suspensions softened the jarring ride that drivers and cargo suffered for decades, but they brought with them maintenance issues that demand constant attention.
February 4, 2011