troubleman84
TB Veteran
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Are you a city driver?I also get paid for everything I do.
Are you a city driver?I also get paid for everything I do.
Ditto!My thoughts on any government funding for the Teamsters Pension bailout or any kind of funds that are Tax Payers funds is, I have a very small Pension coming to me and Con-Job Job robbed me of its full potential. I certainly don't want my tax money to pay for someone else's Pension while I cannot enjoy mine. That's not fair to the American Tax Payers, Many that doesn't have any form of Pension to look forward to. I do feel bad for Central State future Retirement Participants. I have family that are in it also. This fund has been stolen from from the get go. There should have been better oversight from the very beginning IMO.
It was fully funded until the government took control and "saved" itThey stole from it and the government had to take control
Of it.
It was fully funded until the government took control and "saved" it
I'll apologize now for the long post.....
Make no mistake about it and it's not even debatable....the "fund" was taken away from the Teamsters due to corrupt officials within their organization and organized crime. You are correct, the fund started bleeding money more quickly due to economic conditions and poor investments made by the companies that were supposed to "monitor" it....Central States Pension Fund administrators; the Goldman Sachs & Co. and Northern Trust Global Advisors fiduciaries. This can easily be looked up on the internet. With a current shortfall of $2 billion per year due to declining membership and increasing retirees, the fund is expected to be completely depleted by 2025, which is sad for all those who have contributed and relied upon this as their primary retirement. Very sad situation for all parties involved but the fund started declining when deregulation came to our industry.
Quoted directly from the Central States Pension Fund page.....
The deregulation of the trucking industry in the 1980s resulted in the loss of more than 10,000 employers that used to contribute to the Fund, many without paying their full pension funding obligation. When a company goes out of business without meeting its pension funding obligations, Central States Pension Fund is forced to make up the difference. About half of all Central States Pension Fund benefits payments currently go to these “orphaned” employees, whose employers never fully paid the Fund to cover their benefits.
Baby Boomers are retiring in record numbers and the union workforce has been steadily declining for years. As a result, for every $3.46 that the Fund pays out in pension benefits, only $1 is collected from employers, resulting in an annual shortfall of $2 billion. That math simply doesn’t work.
I'm not saying that the fund wasn't being raided, it was which Is one reason it stayed "fully funded" nobody wanted the feds to see what was going on. The government has to share the blame by allowing companies to underfund.
Currently yes.Are you a city driver?
I don’t understand why so many struggle with this. Had the union done their job and looked out for the workers, the government never would have taken control. It wouldn’t have gone broke if the Teamsters weren’t thieves.It was fully funded until the government took control and "saved" it
I think Roadhouse pretty well covered what Happened to Csp . The lack of employers paying into the fund due to companies going out of business was the main factor in leading to the current state of that particular fund . No doubt any corruption would have exasperated any underfunding. This was a MUTI employer fund that was left to a few contributing companies in the end due to competition after deregulation.I don’t understand why so many struggle with this. Had the union done their job and looked out for the workers, the government never would have taken control. It wouldn’t have gone broke if the Teamsters weren’t thieves.
Depends on how much you guys want it. Officials only negotiate not vote. It’s up to you if want it.Currently yes.
As for the benefits you think you can improve, until there’s something in writing, it’s just another empty promise.
All contributing factors. What kills me is the fact that most pro union guys want to ignore the theft and corruption of the union. This isn’t a chicken and egg arguement. We know what happened and we know what happened first. Why do so many guys seem to be ok with what the union did?I think Roadhouse pretty well covered what Happened to Csp . The lack of employers paying into the fund due to companies going out of business was the main factor in leading to the current state of that particular fund . No doubt any corruption would have exasperated any underfunding. This was a MUTI employer fund that was left to a few contributing companies in the end due to competition after deregulation.
I don’t want it at all. The Teamsters didn’t do a damn thing for me 20 years ago, I sure as hell don’t want them taking my money and doing nothing for me now.Depends on how much you guys want it. Officials only negotiate not vote. It’s up to you if want it.
I guess for the same reason people are willing to overlook Brad Jacobs conviction on cooking the books. Some trust him now some don’t.All contributing factors. What kills me is the fact that most pro union guys want to ignore the theft and corruption of the union. This isn’t a chicken and egg arguement. We know what happened and we know what happened first. Why do so many guys seem to be ok with what the union did?
Are people over looking The misdeeds of Jacobs? I haven’t seen it. I don’t trust him, but sadly I trust him more then the union.I guess for the same reason people are willing to overlook Brad Jacobs conviction on cooking the books. Some trust him now some don’t.
Not all CEO s are crooks just like not all Teamsters are.
Had the government done their job it wouldn't be distressed, we can dance all night if you want.I don’t understand why so many struggle with this. Had the union done their job and looked out for the workers, the government never would have taken control. It wouldn’t have gone broke if the Teamsters weren’t thieves.
Had the government done their job it wouldn't be distressed, we can dance all night if you want.
Facts don’t have a place in their dance. 150 plus pages have shown that to be a fact.How is it the governments job ? It should have never been in the governments hands.
I ask why so many guys seem to be ok with the union theft and corruption and all you want to do is dance around it. Nothing like making my point when you think you’re being smart.Had the government done their job it wouldn't be distressed, we can dance all night if you want.
I never denied itAll contributing factors. What kills me is the fact that most pro union guys want to ignore the theft and corruption of the union. This isn’t a chicken and egg arguement. We know what happened and we know what happened first. Why do so many guys seem to be ok with what the union did?