3 thoughts on “Forbes post, “Multiemployer Pension Update: The Story Of The ‘Green Zone’ Teamsters Plan”

  1. As a participant (I mean a victim) of the Central States Plan, I’ll tell you what I know. My company, ABF Freight, has paid 100% of it’s obligation for my pension. I have no say or control over what happens to those contributions and have no right to have them deposited in to an alternative account such as an IRA or 401k. I can tell you this. I have no formal training in investing, but I can run circles around the people who are managing my pensions when it comes to managing my money. I’ve written my members of Congress numerous times and I sense from their responses that we are spoiled union brats who don’t deserve what we worked for. Rather than seeing us as victims of a retirement system that we have no say in, they view us as greedy, undeserving and looking for a free government handout. I don’t know what the solution is, but I’m still an active worker and should have the right to have the company redirect all future payments into my IRA and 401k so I can manage them without the corruption, incompetence and neglect that they have received for a long time by government regulations and trustees that have no idea what they are doing.

  2. I too am a victim of Central States Pension Fund. I enjoyed your article about the Western States Fund and Central States Fund. You mentioned Jimmy Hoffa being President of Central States, I’m sure you’re aware his son, Jimmy Hoffa Jr., is and has been President of Central States Teamsters for years and years.
    I’ve often wondered if this is the reason our pension is so grossly underfunded. They actually cut my hard earned pension by $856 per month. This may prove to be life or death for me in the near future. I plan on appealing my pension amount since Congress decided to bail out the the unions.

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