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The reduction and even suspension of pension benefits isn’t something anyone wants. However, a growing number of financially troubled multiemployer benefit plan managers may find it to be an inescapable eventuality.

The Teamsters Union’s troubled Central States Pension Fund is a good example of how bad things could turn out. Projections show that it will be insolvent by 2026, unless it takes the drastic step of cutting back benefits.

 

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