Teamsters to Propose Fix for Pensions, but Will It Work?

The International Brotherhood of Teamsters thinks it has a way to fix the troubled state of pension plans for unionized workers. The union has been circulating a draft proposal for input from policy makers, but so far the proposal isn’t getting rave reviews.

Two years in the making, the draft proposal from the Teamsters is the latest attempt to prevent as many as 130 union-negotiated multiemployer plans from going insolvent in the next 20 years. More than 3.5 million workers participate in these plans.

The proposal calls for Congress to create a nonprofit private-sector corporation tasked primarily with making loans ...