Central States, Southeast, Southwest Areas Pension Fund Once nicknamed "the mob's bank," the Teamsters Union's Central States, Southeast, Southwest Areas Pension Fund, based in Chicago, played a major—and infamous—role in the rapid expansion of the Las Vegas hotel-casino industry following World War II.
One of the United States’ largest multiemployer pension funds is the Central States Southeast and Southwest Areas Pension Fund (Central States).
The Central States, Southeast and Southwest Areas Pension Fund (CSPF) was established in 1955 to provide pension benefits to trucking industry workers, and is one of the largest multiemployer plans.
Internal Revenue Code Section 432 for the Central States, Southeast and Southwest Areas Pension Plan as of January 1, 2015 in accordance with generally accepted actuarial principles and practices. It has been prepared at the request of the Board of Trustees to assist
Your Central States Pension is in Crisis Like many of our nation’s multiemployer pension funds, the Central States Pension Fund has become severely underfunded and is in critical and declining status. Unless Congress takes action, Central States will run out of money to pay benefits and your pension will be severely reduced in 2025 or earlier.
Petitioners are two large multiemployer benefit plans, the Central States, Southeast and Southwest Areas Pension Fund and the Central States, Southeast and Southwest Areas Health and Welfare Fund (hereinafter referred to collectively as Central States).
Plaintiff Central States, Southeast and Southwest Areas Pension Fund is a multiemployer pension plan within the meaning of the Employee Retirement Income Security Act of 1974 (“ERISA”), as amended by the Multiemployer Pension Plan Amendments Act of 1980 (“MPPAA”), 29 U.S.C. §§ 1381–1461.
The Central States, Southeast and Southwest Areas Pension Plan (“Central States Pension Plan”) application proposing benefit suspensions can be found below. The application is organized by the items specified in Revenue Procedure 2015-34 .