‘Devastating’ proposed pension cuts rock Teamsters in Midlands [View all]

http://www.omaha.com/news/metro/devastating-proposed-pension-cuts-rock-teamsters-in-midlands/article_5f03ab36-1665-5c44-a254-17c1c8ec9370.html

POSTED: SUNDAY, OCTOBER 11, 2015 12:30 AM
By Joseph Morton / World-Herald staff writer

WASHINGTON — Retired truck driver Don Ziemba of Missouri Valley, Iowa, knew the letter was coming, but it still arrived last week like a punch to the gut.

Proposed pension cuts would reduce his monthly payment by more than half, from $2,800 to $1,281.

“It was very devastating,” said Ziemba, 69. “I was glad I was sitting down when it happened. It was a real shock to see that it came to this point.”

Retirees across the country received similar letters last week detailing just how much they stand to lose under cuts proposed by the Teamsters’ Central States Pension Fund.

FULL story at link.