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Teamsters pension fund returns $127M to Treasury after overpaying dead participants

Teamsters pension fund returns $127M to Treasury after overpaying dead participants
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White houseDistrict of columbiaUnited statesSeanm obrienNicholas novakSean obrienMilo gladsteinGordon hartogensisJoe bidenThomas nyhanWorkforce committeeSecurity administrationColoradoan united statesSenate healthPensions committeeJustice department

Central States Has Repaid SFA Overpayment

The multiemployer plan was overpaid $127 million for the accidental inclusion of about 3,500 dead participants in their grant application.

United statesThomas nyhanBill cassidyGordon hartogensisSeema nandaHouse committee on educationPension benefit guaranty corporationDepartment of justice onSecurity administrationCentral statesSouthwest areas pension planCentral stateSpecial financial assistanceAmerican rescue plan actSocial security administrationSenator bill cassidy

Central States Reaches Agreement to Repay $127M Overpayment | Chief Investment Officer

The plan reached a settlement with DOJ on Monday that will clear its debt with the PBGC.

United statesGordon hartogensisThomas nyhanBill cassidySeema nandaDepartment of justice onHouse committee on educationSecurity administrationPension benefit guaranty corporationCentral statesSouthwest areas pension planCentral stateSpecial financial assistanceAmerican rescue plan actSocial security administrationSenator bill cassidy

PBGC Paid $127M for Deceased Central States Participants, Senate Republicans Demand Repayment

The error was identified in November 2023, and the Central States pension plan has asked for legal clarity on how to return it.

United statesThomas nyhanJulie suBill cassidySean obrienKaren morrisInternational brotherhood of teamstersCentral states pension fundUs department of justiceCivil divisionPension benefit guaranty corporationHealth of central statesSecurity administration full death master fileSenate committee on healthCentral statesSouthwest areas pension plan

Central States Pension Received $127M from PBGC for Dead Participants

According to the fund, an error occurred due to its lack of access to more comprehensive data on deaths.

United statesBill cassidySean obrienJulie suThomas nyhanKaren morrisSenate committee on healthHealth of central statesUs department of justiceCentral states pension fundInternational brotherhood of teamstersCivil divisionPension benefit guaranty corporationSecurity administration full death master fileCentral statesSouthwest areas pension plan