Central States Pension Fund Won't Issue New Rescue Plan, Director Says

A pension fund serving Teamsters members said Thursday it will not issue a new plan to rescue the fund, following the Treasury Department's rejection of proposed reductions. Thomas Nyhan, executive director of the Central States Pension Fund, said it remains in "critical and declining status" and called for legislation to protect participants' retirement benefits. Earlier this month, Nyhan predicted insolvency for the fund without legislation, absent another plan.

Copyright © 2016 MarketWatch, Inc.