Treasury issues pension regulations, says Central States decision still to come

The Treasury Department has posted the final regulations of a 2014 act that lets struggling pension funds cut benefits, but a decision from the Treasury on the fate of the Central States Pension fund is not expected until next week.

A statement on the Treasury’s website said the latest version of the Kline-Miller Multiemployer Pension Reform Act of 2014 left the basic requirements for Central States unchanged.

The Central States fund, which covers more than 400,000 active and retired workers, mostly Teamsters, has said it will run out of money in 10 years unless drastic measures are taken.

The Treasury has appointed a mediator to rule on the issue, but a Treasury spokesman said this week’s guidance update was not a decision on the Central States proposal.

Read more: Kansas City Star


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