How about an update on the FIGHT!!! What actuarial firm is doing the forensic audit? What Law firm is doing the legal work. How much money has been collected for the fight. How many people on mailing list. I have never been contacted. what kind of assistance are the fighters getting from AArp, Pension Rights Center ect. Certainly some reportable progress has been made in 2 plus years. Or did the fighters go back to plan A. The I hope I'm dead before the pension fund goes broke plan.
GAO update.
441 G St. N.W. Washington, DC 20548
February 13, 2017
The Honorable Charles E. Grassley
Chairman Committee on the Judiciary United States Senate
Subject: Central States Pension Fund Consent Decree
Dear Mr. Chairman:
This letter confirms our commitment to examine the Department of Labor’s oversight of Central States Pension Fund under the consent decree on the basis of your letter to the Comptroller General. As discussed with your staff on February 10, 2017, we will complete our work and send a draft product to the agency(s) for comment in late July-early August 2017. The first enclosure sets forth the key aspects of the engagement and enclosure II lists the co-requesters with whom we will be coordinating our work. We look forward to working with you and your staff on this engagement.
Sincerely yours,
Charles Jeszeck
Director Education, Workforce, and Income Security Issues
Objectives/Key Questions
We will describe factors that contributed CSPF's financial distress, DOL's role and activities in the administration of the consent decree and other relevant laws and regulations.
1. What is known about the major factors that contributed to the critical financial condition of the Central States Pension Fund;
2. What is the Department of Labor's (DOL) role in the administration of the 1982 Central States Pension Fund Consent Decree and any actions the agency has taken under that role;
and 3. What, if any, actions Labor has taken to oversee the Central States Pension Fund, beyond those required under the consent decree.
Scope and Methodology
To answer the questions we will obtain relevant court documents including the consent decree and subsequent amendments, and selected submissions to the Independent Special Counsel over the past 35 years. We will conduct semi-structured interviews of cognizant officials at Department of Labor, Department of the Treasury, Internal Revenue Service, and Pension Benefit Guaranty Corporation; officials at the Central States Pension Fund and the Independent Brotherhood of Teamsters; and knowledgeable industry representatives. We will take steps to ensure that a wide range of stakeholders and viewpoints are represented. We will also review Labor's actions related to their responsibilities for multiemployer plans under certain laws, such as, the Employee Retirement Income Security Act, the Pension Protection Act, and the Multiemployer Pension Reform Act. Because the consent decree has been in place for nearly 35 years, we have found certain information and older documentation difficult or impossible to obtain. In addition, given the length of time that has transpired, we have also found that some knowledgeable individuals involved in creating and administering the consent decree in the past are no longer available. During the course of our work, we will not audit the courts, its judges, the Independent Special Counsel, or their agents. The work will be done in accordance with generally accepted government auditing standards.
Reporting on Status of Our Work
We will periodically discuss the status of our work with you and/or your staff.
Date to Agency(s) for Comments
After GAO has developed the product’s preliminary message, we will provide a specific date when a draft of the product will be sent to the Department of Labor, the Department of the Treasury, the Internal Revenue Service, and the Pension Benefit Guaranty Corporation for comment. Please notify the engagement team if you wish to receive an informational copy of the report when it is sent to the agencies for comment.