Yellow | Central States Pension Fund Warns of Insolvency

[Jay C]

Teamster fund could collapse unless ‘orphaned’ retirees are ‘partitioned’, director warns

Responsibility for benefits paid to employees of failed companies should be transferred to the federal Pension Benefit Guaranty Corp., Thomas C. Nyhan told a Senate committee

More than 40 percent of the fund’s benefits are paid to “orphaned” employees of defunct companies, he said, and responsibility for those benefits rests with surviving companies.

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