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Retired truck drivers facing significant cuts in pensions

Mar 27, 2016 at 06:51 AM CST
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Staff Writer
Retired truck driver John Fredritz’s pension could be cut by 53 percent, to $1,335 per month, as early as July. It is part of a “pension rescue plan” proposed by Central States Pension Fund for members of the International Brotherhood of Teamsters.
But for Fredritz, 66, of Carey, and for others, it feels more like being thrown under the bus.
Over 400,000 other pension members would see benefits reduced.
It is a particularly bitter pill for Fredritz and over 220,000 retirees who would lose 50 to 70 percent of their pensions.