TREASURY DEPARTMENT REJECTS CENTRAL STATES CUTS !!!!!!!!!!!

Oh my I can see Mr.Hoffa's golden parachute getting smaller.
I'm sure if the Teamsters kept their sticky fingers out of the till over the years.
My teamsters brothers & sisters would be able to enjoy the pension they worked for.
 
Oh my I can see Mr.Hoffa's golden parachute getting smaller.
I'm sure if the Teamsters kept their sticky fingers out of the till over the years.
My teamsters brothers & sisters would be able to enjoy the pension they worked for.
As bad as he is he does not control the money in the pension funds.Blame the fund trustees and the companies that invest the funds money. They are the cause along with our federal government who appointed them to rid "The Teamsters" from mob control. Thanks you guys did a great job watching our money!:17113:
 
What really ticks me off is the pension we were promised & work for over my trucking career was like a forced bank account.
Almost like social security,with folks receiving benefits on it that never were truckers,or able body workers for that matter.

Gee you know I'm happy for this here trucking message board to vent our frustrations over issues we have little or no control over.
 


Kenneth Feinberg has announced that Treasury denied the application of the Central States Pension Fund to implement its planned pension cuts.

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Retired and active Teamsters who have built a movement in our union to protect pensions deserve a big congratulations for winning this battle.

The tireless work by many Teamsters is starting to pay off.

Feinberg said he rejected the application because it used flawed investment assumptions, didn’t distribute the cuts equally among members and because the notice sent to members was overly technical.

Click here to read the letter from Feinberg to Central States that details Treasury's reasons for denying the application.

Feinberg cited the outpouring by workers and retirees who flooded eight town hall meetings held by Treasury.

Feinberg told reporters, “I must congratulate the retirees for reaching out to us and making sure that their voices were heard. I can tell you that listening to the retirees and what they had to say, of course that influenced.”

The grassroots campaign won this phase of the war, but the threat to Teamster pension continues.

The pension protection movement will need to continue to grow to help win alternatives to pensions cuts and protect our retirement security for the future.

On to victory!
:usa2:
 
Thanks UTR906...... Things gonna get interesting now.
Yes they are. With Treasury rejecting the proposal because of unrealistically high assumptions. By resubmitting a plan with lower numbers and the fact that the starting amount of money is down to 16.1 billion, I don't see how CS can put together a plan that will fly.
 
I want to personally thank Freightmaster1 & UTR906 for all of the updated information you are providing on this negative issue.
Keep up the good work,I for one really appreciate your efforts.
 
Yes they are. With Treasury rejecting the proposal because of unrealistically high assumptions. By resubmitting a plan with lower numbers and the fact that the starting amount of money is down to 16.1 billion, I don't see how CS can put together a plan that will fly.
If I was smart enough I would share an the answer to fix it. I got many ideas but the are ridiculously unattainable.....the one thing that may be possible, write a good law to start with.
 
I have been getting pension letters every year since I retired in 2008, that claims they have been underfunded.
So if thats the case,where are they going to find the money to cover all of the current & future Teamster retirees?
 
I have been getting pension letters every year since I retired in 2008, that claims they have been underfunded.
So if thats the case,where are they going to find the money to cover all of the current & future Teamster retirees?
They can't. This small reprieve just let's it run out of money faster.
 
As bad as he is he does not control the money in the pension funds.Blame the fund trustees and the companies that invest the funds money. They are the cause along with our federal government who appointed them to rid "The Teamsters" from mob control. Thanks you guys did a great job watching our money!:17113:

The mob manages money better than government. I don't remember any government program that made money.
 
You got that right,look at social security,the government has been bleeding that fund for years.
I know a kid that got on SSI at an early age because his Dad walked out on the family.
When he told me about it,I said I didn't want to hear it,I've been working & putting into that system since I was 14.
You've never paid a cent,yet you get a check every month.
 
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