December 14, 1998
Chicago Teamsters' Plan Trustees To Restore $20 Million To Pension Plan
Archived News Release — Caution: Information may be out of date.
Trustees to employee benefit plans of Local 705 of the International Brotherhood of Teamsters in Chicago have agreed to restore $20 million owed to the local union’s pension plan by an affiliated welfare plan under a consent order and judgment obtained by the U. S. Department of Labor.
The restitution returns $16,511,985 to the pension plan which the trustees improperly transferred to the welfare benefit plan, plus interest.