The troubled Central States pension fund serves 270,000 union drivers and retirees. A plan to curtail benefits and reorganize the fund, which is on track to go bankrupt in 10 years, was rejected by the Treasury Dept. recently. This is a temporary reprieve as the fund is paying out $3.46 in benefits for every dollar contributed. If the fund fails, the cuts will be much more drastic and because the plan is so big it would wipe out the federal insurance for this type of plan. Read more: http://www.nytimes.com/2016/05/07/business/dealbook/treasury-department-rejects-plan-to-cut-pension-benefits-for-teamsters.html?_r=0
