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Central States Teamsters -- some backstory on their bailout
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Central States Teamsters -- some backstory on their bailout

little history on pension bailouts past, present, and perhaps yet-to-come? (No Christmas Carol, this)
Mary Pat Campbell
Dec 14, 2022
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In this episode, I give some background on the players in the Central States Teamsters bailout — the PBGC, ERISA, the prior attempts at fixing multiemployer plans, why multiemployer plans got into trouble compared to single employer plans - and more!

STUMP - Meep on public finance, pensions, mortality and more is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

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Current Events

Dec 10, 2022: Central States Teamsters Pension Fund finally gets its bailout money, as planned -- now what?

STUMP - Meep on public finance, pensions, mortality and more
Central States Teamsters Pension Fund finally gets its bailout money, as planned -- now what?
Back in March 2021, the Moneypalooza Monstrosity, as I call it, or the American Rescue Plan of 2021 as others call it, passed. One of the bailout provisions of the ARP was a multiemployer pension bailout, with a total price tag of $86 billion quoted at the time. (I will return to this in a moment.) Money from this bailout was going to be doled out in sta…
Read more
2 years ago · 2 likes · Mary Pat Campbell

John Bury at burypensions: Central States Bailout Approved

Pensions & Investments: Biden announces $36 billion in federal aid for struggling Central States Teamsters plan

white and black printer paper
Photo by Giorgio Trovato on Unsplash

Background Reading

Wikipedia article on ERISA

Department of Treasury: Frequently Asked Questions about the Kline-Miller Multiemployer Pension Reform Act

PBGC page on MPRA of 2014

May 2016: Central States: I Guess the Plan is To Run Out of Money

John Bury’s entire Multiemployer Pensions category at burypensions

STUMP - Meep on public finance, pensions, mortality and more is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

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STUMP - Meep on public finance, pensions, mortality and more
STUMP - Death and Taxes
Meep (Mary Pat Campbell) talks about mortality trends and/or public finance issues, usually with a connection to current events.
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