BISMARCK, N.D. - Thousands of North Dakotans with pension plans through Central States Pension Plan might lose their benefits after paying into the plan while they worked.
Sen. Heidi Heitkamp, D-N.D., announced a bill Tuesday that would make that fund solvent again.
More than 70 people came to the Teamsters Union Hall in Bismarck, some of them giving emotional speeches about how they rely on the pension. The bill would give the fund cash by selling bonds backed by the treasury department and prevent any cut in benefits. Heitkamp says she wants to give retirees stability.
“If the pension fund goes insolvent, and we tap into the guaranteed fund and that doesn't cover it. It means people won't have pension,” said Heitkamp.
Central States Pension Plan has about 400,000 retirees that could be affected.