TO: ALL LOCAL UNIONS WITH PARTICIPANTS IN CENTRAL STATES PENSION FUND
RE: MULTIEMPLOYER PENSION REFORM ACT OF 2014 (MPRA)
As you know, the U.S. Department of the Treasury (Treasury) notified Central States Pension Fund that our proposed pension rescue plan has been denied. A copy of the communication from Treasury is available on our website at www.cspensionrescue.com.
As a courtesy, we have attached a letter being sent from the Board of Trustees to all participants and retirees regarding the Treasury decision. This letter will be sent later today.
We know that your members look to their local union leadership for answers. In order to assist our local unions, the Fund will be hosting a tele-town hall solely for local union representatives. The call will provide Local Unions with details on the decision and allow time for a question and answer session that will follow the short presentation. Once the Fund has had a chance to review the decision, a date and time for the tele-town hall will be set and we will notify all Local Unions. We anticipate the call to take place within the next 5-7 days.
Please note that, at this time, our call center is not equipped to handle calls regarding the decision from Treasury. In addition to the attached letter, we will continue to provide updates to members and retirees through our website www.cspensionrescue.com, through email (for those who have registered on our website) and through our recorded message hotline at 800-323-7640.
Please direct any questions you have concerning this tele-town hall to your Field Service Representative.