Sen. Charles Grassley, R-Iowa, has requested theGovernment Accountability Officeinvestigate the Department of Labor’s oversight of theTeamsters Central States, Southeast and SouthwestArea Pension Plan.
In 1982, the DOL entered into a court enforced consent decreewith the Central States fund to assure that it was being managedfor the sole benefit of plan participants, as required under theEmployee Retirement Income SecurityAct.
Almost from the point of its inception in 1955, the pension fundwas dogged by allegations that assets were routinely loaned toorganized crime interests, often to several Las Vegas casinos, andthat Jimmy Hoffa, the famed Teamsters boss, received kickbacks fromproviders to the funds.
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