Multiem

mployer pension
p
plans in
n "criticaal and deeclining"" status
The recently
y-enacted Multiemploye
M
er Pension Reeform Act oof 2014 allow
ws the trusteees of certainn
multiemploy
yer pension plans to redu
uce pensionss, including the benefits of retirees. R
Read a summ
mary of
the cutback provisions of
o the law heere.
The Center for Retiremeent Research
h at Boston College
C
has ccompiled a llist of 100 pllans that mayy be
permitted to
o cut benefitss as a result of the new laaw. This is nnot a definitiive list. It waas created ussing
data from U.S.
U Departm
ment of Laborrs Form 555
50s, financiaal reports thaat pension pllans are requuired to
file each yeaar. All projections assum
me that moneey contributeed to the plaan and benefi
fits paid remaain at
current levels and that th
he plan achieeves an assu
umed rate off return each year. There may be planns on
the list that are not eligib
ble to reducee benefits, an
nd there mayy be plans thhat are not onn the list thaat are
eligible to cut benefits, or
o that will be
b eligible in
n the future, if their finanncial status w
worsens.
It is importaant to note th
hat the new law
l authorizes but does nnot require bbenefit cuts. It is up to pllan
trustees to decide
d
wheth
her to cut ben
nefits and ho
ow much theey will be redduced. You may want too
contact the trustees
t
of your plan and
d ask if they are planningg to reduce bbenefits and,, if so, how m
much
the reductions will be.
To determin
ne how much
h your pension might be reduced if yyour plan truustees were tto make the llargest
cuts permittted by this neew law, use our calculator.
Plans that may
m cut ben
nefits as a reesult of the Multiemplooyer Pension
n Reform A
Act of 2014:

PlanName
AB&GWIntlUnionAFLCIOClcEastternDist
CnclNo12P
PensionPlan
n
AlaLithograaphicIndustrryPensionPlan
AlaskaIronw
workersPensionPlan
AmericasFaamilyDefinedBenefitPlaan
AsbestosWorkersLocallUnionNo.5
55
PensionPlan
AsbestosWorkersUnionLocalNo.6
64
PensionPlan
Automotive
eIndustriesP
PensionPlan
n
BacLocal#5
5NewYorkP
PensionPlan
n
Bakery&Co
onfectioneryyUnion&Ind
dustry
InternationaalPensionFu
und
BakeryandSalesDriverrs'Local33In
ndustry
PensionPlan
BakeryDrive
ers&Salesm
menLocal19
94&

Ratiooff
Projectted
Year
Y
Actuarial
Inactivee Total#of
of Yearsu
Funded
until
to Members
Data
D
Insolve ncy
Ratio
Activess
2012
2

15

2.8

545

52.0%

2012
2
2013
2
2012
2

5
16
11

19.3
5.3
3.3

4,126
808
3,187

35.2%
54.3%
57.3%

2012
2

17

3.2

269

75.7%

2011
2

8.3

139

3.1%

2012
2
2012
2

19
12

5.3
4.1

26,331
972

58.3%
45.3%

2012
2

20

3.5

114,224

65.0%

2013
2

19.9

712

48.2%

2012
2

14

4.1

1,882

69.6%

IndustryPensionFund
BakeryDriversLocal550andIndustry
2012
PensionFund
BakeryDriversLocal802PensionFund
2012
BinderyIndustryEmployersGCC/IBTPension
2012
Plan
Bricklayers&AlliedCraftsmenLocal7
2013
Pension
ButcherandProvisionWorkersPensionFund
2008
ofSouthernCalifornia
CaliforniaWineryWorkersPensionPlanTrust 2010
CementMasonsLocalNo.567PensionPlan 2013
CementMasonsLocalUnion681Pension
2013
Plan
CentralStates,Southeast&SouthwestAreas
2012
PensionPlan
ChicagoFoundryWorkersPensionPlan
2010
CMTAToolandDieCraftsmenAssociation
2013
PensionTrust
CTDUPensionFund
2013
CWA/ITUNegotiatedPensionPlan
2013
DistributorsAssociationWarehousemen's
2013
PensionTrust
Emp.PensionBenefitPlanLo.640I.A.T.S.E. 2013
FreightDriversandHelpersLocalUnionNo.
2012
557PensionPlan
GraphicCommunicationsConferenceofThe
InternationalBrotherhoodOfTeamsters
2013
NationalPensionFund
GraphicCommunicationsInternationalUnion
2012
Local96BPensionFund
GraphicCommunicationsInt'lUnionLocal
2013
119bNYPrintersLeaguePensionFund
GraphicCommunicationsInt'lUnionNo.147
2012
B
GraphicCommunicationsUnionLocal2C
2012
RetirementBenefitPlan
GreaterClevelandMovingPictureProjector
2012
OperatorsPensionPlan
GreaterWisconsinMultiEmployer
2012
RetirementIncome
HawaiiShopmensLocal803PensionPlan
2012
I.A.OfM.MotorCityPensionFund
2013
IdahoSignatoryEmployersLaborersPension 2012
2

18

2.9

2,082

44.3%

15

3.4

1,816

58.1%

3.6

976

47.2%

19

2.5

490

57.1%

18

7.0

4,184

79.8%

10
15

2.6

5,859
182

56.2%
65.9%

27.0

280

27.8%

12

4.9

411,238

53.9%

50.0

510

57.4%

10

14.5

232

56.5%

13
18

19.9
10.0

4,312
32,504

65.0%
68.0%

19

2.5

5,031

59.4%

16

3.0

170

57.2%

13

6.7

2,904

60.6%

15

8.8

38,281

52.0%

37.3

651

41.2%

55.2

1,856

63.3%

21.3

178

45.0%

348.0

698

19.9%

13

3.6

144

47.3%

16

15.9

2,540

65.3%

19
13
13

8.2
5.3
1.9

184
1,182
797

77.5%
65.7%
53.9%

Plan
InsulatorsLocal112PensionTrustFund
2013
Int'lUnionofTool,DieAndMoldMakers
2012
PensionPlan
IRCFMinSouthernCaliforniasndCabinet
Makers,MillmenAndIndustrialCarpenters 2011
Local721PensionTrustFund
IronWorkersLocal17PensionFund
2013
IronWorkersLocal580ShopPensionFund 2013
IronworkersLocal#16PensionPlan
2012
IronworkersLocalNo.6PensionPlan
2008
IronworkersLaborersPensionPlanof
2013
CumberlandMd
LicensedTugmen'sandPilots'Pension
2012
Local138PensionTrustFund
2012
Local365UAWPensionFund
2012
Local447PensionFund
2012
Local584PensionTrustFund
2013
Local731IBTTextileMaintenanceAnd
2013
LaundryCraftPensionFund
Local734PensionFund
2013
Local805Pension&RetirementFund
2013
Local810AffliatedPensionPlan
2012
Local917PensionFund
2012
Local966PensionPlan
2012
LocalNo.863PensionPlan
2013
LocalOnePhotoengraversPensionFund
2012
MaintEmpTeamstersLocal416OfCleveland
2013
PensionFund
ManagementLaborPensionFundLocal1730
2012
ILA
MarylandRaceTrackEmployeesPension
2012
Fund
MilwaukeeBreweryWorkersPensionPlan 2012
Mlwrts&MachineryErectorsLuNo1545
2011
PensionPlan
NewOrleansEmployersInternational
Longshoremen'sAssociation,AFLCIO,
2013
PensionPlan
OperatingEngineersLocal800&Wyoming
ContractorsAssociation,Inc.PensionPlanfor2012
Wyoming
PensionFundofMovingPictureMachine
2012
OperatorsUnionOfGreaterNewYork,Local
3

51.8

317

32.2%

45.3

185

49.7%

11

8.1

1,562

56.8%

20
15
17
9

2.2
35.4
2.5
3.4

2,067
1,019
1,140
848

37.5%
76.3%
65.0%
41.0%

19

3.0

795

55.9%

8
13
10
6
10

7.2
4.6
22.9
44.1
2.1

206
2,029
4,229
1,217
2,486

57.6%
56.5%
53.4%
43.7%
41.6%

18

4.2

939

42.4%

16
11
17
19
14
9
6

14.0
2.5
5.8
5.1
13.3
26.7
213.0

2,670
2,082
1,746
2,006
2,764
2,853
642

55.7%
61.6%
76.4%
71.6%
70.8%
47.8%
54.5%

2.3

688

13.0%

10

7.9

567

62.8%

20

2.2

1,527

67.7%

18

9.2

2,568

69.8%

1.9

203

37.9%

13

4.6

3,459

62.3%

14

2.8

1,283

75.5%

10

6.1

685

57.4%

306
PensionPlanofLocal47BricklayersAnd
2013
AlliedCraftman
PensionPlanAmalgamatedMeatCutters&
2010
RetailFoodStoreLocal342
Plumbers&PipefittersofLocalUnionNo.
2013
333PensionFund
PrintingIndustryandUnionConsolidated
2008
PensionPlan
PrintingLocal72IndustryPensionPlan
2013
ProductionWorkersPensionFund
2012
ResilientFloorCoveringPensionFund
2012
RetailClerksSpecialtyStoresPensionPlan 2012
RetirementBenefitPlanofGCIUDetroit
NewspaperUnion13nwithDetroitArea
2012
NewspaperPublishers
RetirementPlanOfBricklayersLocalNo.1Of
2013
Rich
RoadCarriersLocal707PensionFund
2013
RoofersLocal195PensionFund
2010
SanDiegoCountyTeamstersPensionPlan 2013
SanFranciscoLithographersPensionTrust 2013
So.California,Arizona,Colorado,&So.
NevadaGlaziers,ArchitecturalMetal&Glass 2012
WorkersPensionPlan
SoftDrinkIndustryLocalUnionNo.710
2012
PensionFund
St.LouisGraphicArtsPensionFund
2012
TeamstersLocal264VanDriversPension
2013
Fund
TeamstersLocal408PensionPlan
2012
TeamstersLocal617PensionFund
2013
TeamstersLocal641PensionFund
2013
TeamstersUnionLocalNo.52PensionFund 2012
TextileProcessorsServiceTradesHealthCare
ProfessionalAndTechnicalEmployees
2012
InternationalUnionLocalNo1PensionFund
TruckingEmployeesofNorthJerseyPension
2012
Fund
U.F.C.W.DistrictUnionLocalTwoand
2013
EmployersPensionFund
U.T.W.A.N.J.UnionEmployerPensionPlan 2012
UFCWLocal174CommercialPensionFund 2012
UFCWPensionFundofNortheastern
2009
4

1.4

321

53.4%

185.7

4,481

66.4%

14

0.7

959

58.7%

63.4

322

48.2%

19
14
19
10

2.8
40.3
2.5
23.4

956
495
3,804
2,025

53.0%
77.4%
74.2%
77.2%

776.0

777

47.2%

10

8.9

562

54.6%

5
5
9
9

4.4
1.0
8.5
21.7

4,751
349
950
1,931

24.0%
10.3%
38.8%
50.8%

4.2

4,580

5.3%

19

2.2

3,554

70.1%

11

5.5

2,878

63.6%

13.0

154

42.7%

9
9
10
14

3.7
158.6
5.0
4.5

1,176
1,117
4,256
1,010

39.5%
60.3%
42.5%
43.9%

14.3

1,191

23.9%

12

7.0

7,304

46.9%

18

7.7

7,364

68.1%

15
16
10

25.6
18.0
15.8

639
1,614
1,866

67.6%
72.6%
59.0%

Pennsylvania
UnionDeTronquistasDePuertoRicoLocal
901PensionPlan
UnitedBrick&ClayWorkersAFLCIODistrict
Council9PensionPlan
UnitedFurnitureWorkersPensionFundA
UnitedMineWorkersofAmerica1974
PensionPlan
WesternPennsylvaniaTeamstersand
EmployersPensionFund
WhseEmployeesUnionLocal169and
EmployersJointPensionFund
WyomingCarpentersPensionPlan

2013

15

7.6

4,426

29.7%

2010

33.7

486

19.1%

2013

13

6.9

10,683

47.6%

2013

16

9.7

115,120

72.3%

2012

16

3.6

24,129

53.5%

2012

16

5.6

4,831

62.1%

2012

17.8

376

8.2%

Note: This list was originally published in an article by Michael Fletcher in the Washington Post on
January 28, 2015.