Fate of 400,000 Teamster Pensions Rests in Ken Feinberg’s Hands
- Federal mediator will decide on truckers' payouts by May 7
- `You cannot help but be affected by retiree after retiree'
Kenneth Feinberg. Photographer: Andrew Harrer/Bloomberg
This article is for subscribers only.
Fred Allsen, a retired truck driver and disabled Vietnam War veteran, has received a $2,700 pension check every month for the past decade. That may not last much longer.
By May 7, federal mediator Kenneth Feinberg must decide whether to accept a plan to cut Allsen’s payouts and those of thousands of other teamsters to prevent the Central States Pension Fund from going broke. The decision could set a national precedent for other multiemployer funds.