Industry reaction to Central States Pension Fund rescue plan refusal

Many ICI members are signatory to Teamsters agreements and contribute to its pension fund. The fund filed to reduce benefits so that it could avoid insolvency, but the U.S. Treasury has refused to accept the rescue plan. Read more from AGC here.

Here is the Department of the Treasury’s letter to Congress.
Here is the Department of the Treasury’s letter to the Central States, Southeast and Southwest Areas Pension Plan.

The Department of the Treasury Internal Revenue Service recently published its final rule on the Suspension of Benefits Under the Multiemployer Pension Reform Act of 2014, and it can be found here.