Stakeholders noted that while each individual factor contributed to CSPF's critical financial condition, the interrelated nature of the factors also had a cumulative effect on the plan's financial condition.īoth CSPF's investment policy and the process for setting and executing it have changed several times since the consent decree was established in 1982. In addition, the market declines of 2001 to 20 had a significant negative impact on the plan's long-term investment performance. At that time, UPS accounted for about 30 percent of the plan's active participants (i.e. The most dramatic change in active participants occurred in 2007 when the United Parcel Service, Inc. CSPF's active participants made up about 69 percent of all participants in 1982, but accounted for only 16 percent in 2016. For example, stakeholders stated that changes within the trucking industry as well as a decline in union membership contributed to CSPF's inability to maintain a healthy contribution base. Stakeholders GAO interviewed identified numerous factors that contributed to CSPF's financial condition. End-of-year participant data and beginning-of-year funding data are presented at the closest year end. Note: The most recent, publicly available data were from 2016.
Since then, CSPF has made some progress toward achieving its targeted level of funding however, CSPF has never been more than 75 percent funded and its funding level has weakened since 2002, as shown in the figure below.ĬSPF Funding Levels and Active and Nonworking Participant Totals, 1982–2016 According to its regulatory filings, CSPF had less than half the estimated funds needed to cover plan liabilities in 1982 at the time it entered into a court-enforceable consent decree that provides for oversight of certain plan activities. The data presented on this page does not represent the view of Central States Health & Welfare and Pension Funds and its employees or that of Zippia.Ĭentral States Health & Welfare and Pension Funds may also be known as or be related to CENTRAL STATES SE & SW AREAS HEALTH & WELFARE FUND, Central States Health & Welfare And Pension Funds and Central States Health & Welfare and Pension Funds.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. None of the information on this page has been provided or approved by Central States Health & Welfare and Pension Funds. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. The employee data is based on information from people who have self-reported their past or current employments at Central States Health & Welfare and Pension Funds. Zippia gives an in-depth look into the details of Central States Health & Welfare and Pension Funds, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Central States Health & Welfare and Pension Funds. On average, employees at Central States Health & Welfare and Pension Funds stay with the company for 7.8 years. The average employee at Central States Health & Welfare and Pension Funds makes $60,351 per year.
The most common ethnicity at Central States Health & Welfare and Pension Funds is White (61%), followed by Hispanic or Latino (14%) and Asian (12%).ġ4% of Central States Health & Welfare and Pension Funds employees are Hispanic or Latino.ġ2% of Central States Health & Welfare and Pension Funds employees are Asian. After extensive research and analysis, Zippia's data science team found that:Ĭentral States Health & Welfare and Pension Funds has 750 employees.ģ1% of Central States Health & Welfare and Pension Funds employees are women, while 69% are men. Our estimates are verified against BLS, Census, and current job openings data for accuracy. Using a database of 30 million profiles, Zippia estimates demographics and statistics for Central States Health & Welfare and Pension Funds.
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