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You are here: Home / News / Rep. Nolan applauds Treasury Dept blocking pension cuts

Rep. Nolan applauds Treasury Dept blocking pension cuts

May 6, 2016 By Scott Peterson

Rep. Rick Nolan

The U-S Treasury Department today rejected a plan to cut retirement and pension funds for around 400-thousand teamsters–including more than 15,000 Minnesotans. Democratic Minnesota Congressman Rick Nolan says the cuts would’ve been unfair and “it is unconscionable to punish the workers who earned these benefits and paid every nickel and dime and then let all those scoundrels who walked away from their obligations go scott-free.” Despite being “thrilled” by today’s decision, Nolan warns similar pension plans in the U-S may also be vulnerable, and if the “crisis” is not addressed, he says “nobody’s pension will be safe.”

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