A forum hosted by the International Brotherhood of Teamsters in Iowa last weekend gave six Democratic presidential candidates 30 minutes each to address the issues most pressing to the union's 1.4 million members.
No issue is as pressing as the imminent insolvency of the Central States Pension Plan, which covers about 385,000 Teamsters, 84% of whom are retirees no longer paying into the pension.
The Central States Plan was less than 40% funded in 2016 and will be insolvent by 2025. At that time, the Pension Benefit Guaranty Corp. will step in to insure a portion of the benefits promised to the Teamsters.
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