Even with the stock market doing well, the ailing Teamsters’ Central States Pension Fund still lost nearly $2 billion last year.
The Teamsters’ Central States Pension Plan—once referred to as the “mob’s piggy bank“—continues to bleed money, according to its 2018 fourth-quarter Financial and Analytical Report.
According to the report (in full below), the pension fund lost $1.8 billion in assets and only had 54,000 active participants to 200,000 retirees.
Moreover, the fund paid $2.8 billion in benefits (unchanged from 2017) and collected $1.1 billion in employer contributions and withdrawal liability payments.
While the pension is still paying $1.7 billion more than it is collecting, it is significantly better than its was several years ago when, for every $1 collected, the fund paid out $3.46 to pensioners.
Central States Pension Fund 2018 on Scribd
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