Chesterton Tribune



Sen. Young urges action on Central States Pension Fund

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U.S. Senator Todd Young, R-Ind., is urging the Senate Finance Committee to resolve the “looming multiemployer pension crisis and restore financial security to Hoosiers.”

“The Central States Pension Fund is the largest multiemployer plan headed toward insolvency, and there are over 22,000 plan participants in Indiana,” according to a statement released by Young’s office this week. “If no action is taken in the next five years, these retirees will see benefits cut by 90-95 percent.”

“My grandfather was a World War II veteran and my family benefited from his UAW pension,” Young said. “Many Hoosiers spend their lives working hard at strenuous and demanding jobs knowing that their retirement years will be financially supported by their pension,” said Senator Young in the letter. “I stand ready to help you and your staff work with all stakeholders to finally and immediately end long-standing uncertainty about the promised retirement benefits of these hardworking Hoosiers and their families.”



Posted 11/8/2019




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