At a two-hour town hall session in Kansas City on Tuesday night, more than 750 retirees and workers came to battle proposed pension cuts of 50 percent or more through the Central States Pension Fund.
The pension covers 400,000 participants, 220,000 of which are retired, and is so short of money, it will run out of money in 2026. A controversial 2014 law allowed the pension to propose the cuts as a way to perhaps save the fund and continue paying out benefits to retirees.
Mediator Kenneth Feinberg heard stories from 30 speakers asking him to reject the plan and find a less devastating solution. Many argued that the cuts would not be able to save the pension, and that it should be paid out in full until it’s gone.
The Central States Pension Fund covers workers and retirees in 37 states.
Read more: Kansas City Star