ROCK ISLAND, Illinois — Retired Teamsters met in Rock Island to fight proposed cuts to their pensions.
Officials say the 'Central States Pension Fund' may run out of money in a few years. Notifications were sent out last fall to notify current workers and retirees of the specific amount that is expected to be cut. Last fall, President of Teamsters Local 371 Howard Spoon said an estimated 4,000 people in the Quad Cities would be affected by the cuts and about 400,000 total.
Under a proposed rescue plan, retirees' monthly benefit payments would be slashed - some up to 70 percent. Most people would see a difference of $10,000 or more in yearly income.
Dozens of retired workers attended today's meeting hoping to stop the changes from taking place.
"This is money that these men earned. This is money that was promised to them," said Mary Packert with the Committee to Protect Pensions. "These are deferred wages."
Local Teamsters are planning a trip to Washington, D.C. to pitch their case to Congress.