Expected. Their pensions may soon get slashed. Good evening and thanks for joining us, im dave price. The Central States pension fund is expected to go bankrupt within the next 10 years. To avoid that. Union leaders say they have no choice but to greatly reduce pension payouts by as much as 70 percent a month. Tonight. Local teamsters members held an emergency meeting to figure out what to do. Jodi whitworth has more nat this is not a bailout. This is restitution known for their brotherhood the teamsters local 238 is fighting for whats theirs 093317 i worked 50 60 hours a week and thats what all of us had to do. It was good money but thats how you got what you got and then to see it Bob Vignovich drove semis for 24 years. He retired nine years ago with a stable pension in mind. But that could change 050717 my pension is only 1150 a month but now i would be bringing home a little under 500 the cuts will go into effect july 1 st but Union Members say the news came out of no where and wit
Dave this is a wide spread issue. Impacting more than 6 thousand iowans. Previously retirees benefits were off limits to pension plan programs unless they were already out of money. But a federal law put into place in 20 14 changed that. Nat this is not a bailout. This is restitution known for their brotherhood the teamsters local 238 is fighting for whats theirs 093317 i worked 50 60 hours a week and thats what all of us had to do. It was good money but thats how you got what you got and then to see it go away like that. Its pretty depressing Bob Vignovich drove semis for 24 years. He retired nine years ago with a stable pension in mind. But that could change 050717 my pension is only 1150 a month but now i would be bringing home a little under 500 the cuts will go into effect july 1 st but Union Members say the news came out of no where and with no warning. 055025 we didnt even know about any of that, we werent it allegations of corruption and misuse of money by the Central States pe