Treasury rejects massive cuts to Central States Pension Fund

WASHINGTON D.C.

U.S. Sen. Sherrod Brown, a Democrat from Cleveland, issued the following statement today after the U.S. Treasury Department answered his call to reject the Central States Pension Fund’s application to make massive cuts to retirees earned pensions.

Brown repeatedly called on the Treasury Department to reject the cuts in order to protect the earned benefits of thousands of Ohioans.

“Thousands of Teamsters from Ohio and across the country stood at the Capitol last month and told Treasury to stop these cuts. Today we learned that Treasury heard that message loud and clear,” said Brown. “I’m pleased the Treasury Department heard our repeated calls and rejected Central States’ application. While we celebrate today’s decision, we must also look toward a comprehensive solution that will save Central States and keep the promises made to our retirees.”