James Hoffa (Both of Them) and the “Central States” Crackup

Jimmy Hoffa, the legendary boss of the Teamsters union, vanished in 1975, presumably meeting his demise at the hands of associates from the world of organized crime. Yet his legacy lives on, in the form of the Central States Pension Fund. Today, the fund pays $3.46 in retirement benefits for each dollar it collects from employers, and it has a long-term shortfall so large that it could bust the nation’s pension guarantee system.

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