Las Vegas, NV – Nevada Senator Harry Reid released the following statement after the Treasury Department rejected a proposal by the Central States Pension Fund to reduce pension benefits for more than 270,000 retirees:
“The Treasury Department’s rejection of this application will, in the near term, protect 270,000 retired truck drivers, warehouse workers, dock workers, widows and spouses across the country – all of whom faced brutal and immediate cuts in their promised pension benefits. These employees worked hard and made sacrifices for their promised retirement benefits.
“Still, the Central States’ pension plan remains severely underfunded and these retiree benefits are still at risk. We must fight to strengthen multiemployer pension plans throughout the country to ensure that the millions of Americans who are relying on their pension benefits can count on them.”