Central States Pension Fund

Pension Crisis

Legislation Needed to Protect Pension Benefits

In September 2015, Central States Pension Fund submitted a pension rescue plan application to the U.S. Department of the Treasury (Treasury) under the provisions of the Multiemployer Pension Reform Act of 2014 (MPRA). This plan included proposed benefit reductions for both active and retired Central States participants. On May 6, 2016,

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How We Got Here/Why a Solution is Needed

THE CHALLENGES

Like many of the nation’s multiemployer pension funds, Central States Pension Fund has become severely underfunded due to a combination of factors. If nothing is done, the Fund is projected to run out of money within 10 years or less, and will be unable to pay any benefits to current and future retirees.

The Pension Benefit Gu…

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The Attempted Rescue Plan

In December 2014, the Multiemployer Pension Reform Act (MPRA) was enacted and signed into law. MPRA allows trustees of severely underfunded multiemployer pension funds—like Central States Pension Fund—to develop a rescue plan that may include benefit reductions for both active workers and retirees, in order to save the funds and continue paying …

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Additional Resources

The following are official communications about Central States Pension Fund and other useful documents.

  1. PBGC Projections Report - FY2015

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  2. PBGC MPRA Report

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  3. Letter from John Kline and Kevin Brady to Treasury Secretary Lew Regarding Denial of Central States Proposed Pension Rescue Plan

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