ENDEAVOR (SPECTRUM NEWS) -- For more than two decades, it was the largest multi-employer pension plan, but the Central States Pension Fund is set to go bankrupt in five years or less.
‘Well, listen you’re talking about people’s lives here,' Teamsters Vice President said before speaking to a group of about 100 retired truck drivers.
It's why John Murphy traveled from Boston to Endeavor to do a presentation for the pensioners.
'Just the anxiety and the stress of the fund, that they might lose their job is debilitating,' he said. With 25,000 retired teamsters in Wisconsin and 400,000 across the country, there is good reason to worry.
'The country has to do something, it has to give back,' Murphy said; however, the group doesn't want a bail out or a hand out. The pensioners wants the Butch Lewis Bill passed. The Bill, named after a former teamster president, would allow the U.S. Treasury to create a new office and loan the troubled pension program and several others like the funds they need to remain solvent.
’This should be an alarm for all Americans who think we should have a strong pension system,' Senator Tammy Baldwin said. Three years ago, she helped introduce the legislation. While it has support in the House, she says she remains hopeful the Senate will come around.
As for the Teamsters, they will continues to take their fight to Congress.
’This cuts above politics, this goes to the living standards of American people and I think whatever side you are on will get behind that,' Murphy said.
Opponents argue the bill would only be a bandaid on an already failing system that will eventually run out of funds. If you'd like to learn more about the pensioners and their mission, they will be holding their monthly meeting Saturday, May 11th at 10 a.m., at the Endeavor Fire Hall. More details can be found HERE.