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The current Butch Lewis Act provides a bailout to fund multi-employer pension plans for 30 years. [4] The bill restores pensions to their full amount and increases the national pension insurance cap. [4] Finally, it requires regular reports to Congress on the status of these pension plans as a preventative measure against future collapse. [4]
The Council Plaza housing development, built with financing and support from Teamsters Local 688 and its leader, Harold J. Gibbons, transformed the Grand Center area in the 1950s and 60s.
The Warehousemen and Department Store Worker merged into United Retail, Wholesale and Department Store Employees of America, and that local union merged into Teamsters Local 688 in St. Louis. The International Brotherhood of Teamsters was the third of three international trade union vice presidencies he held. He was also a vice president of the ...
Retired Akron-area Teamsters have more hope that their monthly pension checks, in danger of being significantly cut, are secure for years.
This list of largest pension funds in the United States involves two main groups: government pension funds for public employees and collectively bargained pension funds, jointly managed between employer and employee representatives after the Taft-Hartley Act of 1947.
The International Brotherhood of Teamsters (IBT) is a labor union in the United States and Canada. Formed in 1903 by the merger of the Team Drivers International Union and the Teamsters National Union, [2] the union now represents a diverse membership of blue- and white-collar workers in both the public and private sectors, totalling about 1.3 million members in 2015. [1]
The way in which the union was structured meant that all Teamsters would receive synonymous benefits, regardless of what company they actually worked for. These benefits were controlled by the Teamsters multi-employer pension fund. UPS wanted to back out of the plan, and offer their workers a new pension plan that UPS would control. [6]
Jackie Presser (August 6, 1926 – July 9, 1988) was an American labor leader and president of the International Brotherhood of Teamsters from 1983 until his death in 1988. . He was closely connected to organized crime, and allegedly became president of the Teamsters based on the approval and support of the Cleveland crime fami