INFORMATION CONCERNING THE RECENT PENSION LEGISLATION
Within the Omnibus Spending Bill passed by Congress, and signed into law December 16, 2014, was a provision that would permit “deeply troubled” multiemployer plans to reduce the accrued benefits of active and retired participants to avoid insolvency and preserve benefits above the PBGC guarantee level.
There are 1,400 multiemployer plans in the country and it is estimated that - - at most - - - 10% of those plans might at some time in the future become eligible to take advantage of this relief.
CPF is not one of those plans. Furthermore, as one of the largest, strongest, and most secure plans in the country, it is inconceivable that CPF would ever qualify for the relief in this Bill.
This legislation was primarily aimed at permitting the pension plan of the Central States Conference of Teamsters to save itself from insolvency --- at which time the benefits of all of its pensioners would be cut to the PBGC guarantee level, which is a maximum of $13,000 a year. The law would permit that Plan to avoid insolvency by reducing benefits by much less than would result from insolvency. Furthermore, a vote of all Participants is required before any reduction can be made.
2016-2017 Pipeline Training schedules and applications can be obtained from the District offices
According to General Motors' (Fort Wayne plant) new "Safety Precautions and Programs" guide, they will NO LONGER accept the carry deck certification acquired from the Training Site. Now, all operators must be NCCCO certified AS WELL AS OSHA 10 CERTIFIED and able to produce their documentation when requested.
Many of you are asking, "Now that 'Right to Work' legislation has passed, what do we do now?" What we must NOT do, is forget. We can continue to contact our State Senators and Representatives and RESPECTFULLY let them know that what they did was wrong for working Hoosiers. We need to have men and women at the Statehouse working for, and supporting, their fellow Hoosiers, not out-of-state corporate interests:
-CLICK_HERE for the voting results in the House
-CLICK_HERE for the voting results in the Senate
-CLICK_HERE for facts on "Right to Work (For Less)"
For answers to unemployment insurance questions, CLICK_HERE to view the Unemployment Insurance Claimant Handbook, released by Indiana Workforce Development.