Congressman Emanuel Cleaver Praises Treasury’s Denial of Pension Reductions

WASHINGTON, D.C. – The U.S. Treasury Department has announced its decision to deny the Central States Pension Plan application for benefit suspension. Special Master Ken Feinberg announced the decision today due to the application not meeting the requirements set forth by the Kline-Miller Multiemployer Pension Reform Act of 2014. The notification letter can be found here.

Over 400,000 people from across several states who have vested millions of dollars into their pension funds have been told their benefits from the Central States Pension Fund would be drastically cut, some as much as by 60 percent. Congressman Cleaver has been working with hundreds of retirees who have written to his office seeking assistance and had hosted Treasury's Kenneth Feinberg in February for a town hall with nearly 1,000 retirees from the region.

"I am pleased that the Treasury Department has denied the Central States Pension Fund's application to cut benefits for thousands of retirees.  More time is needed for the Department of Justice to investigate the management of the fund – as I have called for – and for the Government Accountability Office (GAO) investigation to continue. It is time for Central States Pension Fund to work with all of the stakeholders to find a responsible solution that saves the plan and protects benefits.  We cannot turn our backs on the thousands of people who spent a lifetime building this nation. They deserve to enjoy the fruits of their labor in retirement," said Congressman Emanuel Cleaver.

Congressman Cleaver's original letter to the Department of Justice can be found here.

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Emanuel Cleaver, II is the U.S. Representative for Missouri's Fifth Congressional District, which includes Kansas City, Independence, Lee's Summit, Raytown, Grandview, Sugar Creek, Blue Springs, Grain Valley, Oak Grove, North Kansas City, Gladstone, Claycomo, and all of Ray, Lafayette, and Saline Counties. He is a member of the exclusive House Financial Services Committee, the Ranking Member of the Subcommittee on Housing and Insurance, and also a Senior Whip of the Democratic Caucus. A high-resolution photo of Congressman Cleaver is available here.

For more information, please contact Heather Frierson at 816-842-4545 or Heather.Frierson@mail.house.gov.