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Irishman107

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Baltimore Fund Cuts Early Retirement
September 11, 2009: Baltimore pension trustees have made drastic cuts to early retirement benefits for freight and carhaul Teamsters.

Now many are facing more years on the job than they ever expected.

On Aug. 4., the Local 557 Pension Fund announced drastic cuts for Teamsters taking early retirement after Sept. 4. (The Teamsters are members of Local 355, but they kept their own pension fund after their locals merged.)

Before the cuts, members with 30 years of service could take an unreduced pension at age 55.

Now, Teamsters who retire before age 65 will take a big cut. A Teamster retiring at age 60 will only get 57.15% of their full pension. A Teamster retiring at age 55 will only get 34.59% of their pension.

For example, a 30-year Teamster retiring at age 59 will lose over $1,300 a month, for life.

“I was one year short of the Sept. 4 deadline,” said Luther Clark, a 31-year NEW PENN Teamster in Local 355. “I was planning on retiring next year. Now I’m looking at ten more years in the truck.”

These cuts are possible because the fund is in the Red Zone.
Baltimore Fund Cuts Early Retirement | Teamsters for a Democratic Union
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They had to cut Pensions because they were in the RED ZONE...But these same trustees approved the YRCW pension deferral. Does this make any sense????
Prepare yourself this won't be the last, It's only the BEGINNING. Guess HOFFA forgot to mention this part...
 
Irishman 107,I am starting to think the unions are partnered with the gov. The longer we have to work the more money that goes into Social Security,in case if I remember right,they also have been crying poverty..No matter what way you look at it ,I think we are screwed....
 
I guess I'm missing something or I don't get it. I thought the debt situation at YRC and the economy caused a little money prob and the reality is the troops will take the hit.
lostOYVEY-1.gif
I'm just happy to be alive and able to pay the electric bill but are the good times really over for sure?
 
thejoe said:
I guess I'm missing something or I don't get it. I thought the debt situation at YRC and the economy caused a little money prob and the reality is the troops will take the hit.
lostOYVEY-1.gif
I'm just happy to be alive and able to pay the electric bill but are the good times really over for sure?
Click to expand...

Yep:biglaugh:You don't get it:biglaugh:and to think, I thought you""The Joe"" knew everything,,and you better start shutting the lights out ,your electric bill will be going up soon:clap::clap:
 
And the union backed Obama administration is only going to make things worse for all of us.
Unless of course you want to rely on big government which may be where we are heading anyway!!!
 
slave2money said:
And the union backed Obama administration is only going to make things worse for all of us.
Unless of course you want to rely on big government which may be where we are heading anyway!!!
Click to expand...

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[size=+2]ya got that right, bro[/size]
 
one check from teamster,not two

Irishman107 said:
Baltimore Fund Cuts Early Retirement
September 11, 2009: Baltimore pension trustees have made drastic cuts to early retirement benefits for freight and carhaul Teamsters.

Now many are facing more years on the job than they ever expected.

On Aug. 4., the Local 557 Pension Fund announced drastic cuts for Teamsters taking early retirement after Sept. 4. (The Teamsters are members of Local 355, but they kept their own pension fund after their locals merged.)

Before the cuts, members with 30 years of service could take an unreduced pension at age 55.

Now, Teamsters who retire before age 65 will take a big cut. A Teamster retiring at age 60 will only get 57.15% of their full pension. A Teamster retiring at age 55 will only get 34.59% of their pension.

For example, a 30-year Teamster retiring at age 59 will lose over $1,300 a month, for life.

“I was one year short of the Sept. 4 deadline,” said Luther Clark, a 31-year NEW PENN Teamster in Local 355. “I was planning on retiring next year. Now I’m looking at ten more years in the truck.”

These cuts are possible because the fund is in the Red Zone.
Baltimore Fund Cuts Early Retirement | Teamsters for a Democratic Union
.
They had to cut Pensions because they were in the RED ZONE...But these same trustees approved the YRCW pension deferral. Does this make any sense????
Prepare yourself this won't be the last, It's only the BEGINNING. Guess HOFFA forgot to mention this part...
Click to expand...

past local pres. bushwacker,is retiring in dec w/two retirement checks .one from #557, and one from #355. why is it possible., when we retire, we cant work for any union job......dazed and confused ps dump hoffa
 
just think about it 90% of the country got what we deserve we go a gov that their kids know more about the gov then they do . we have a pres that wants to line the big government's pocket and give our taxes (witch (now you see it now you don't ) are unconstitutional anyway)to people that don't really want to work anyway
and i mean the people that work for the government
 
New York State Teamsters pension fund changes. These changes are great if you have 25 years or moor, if not you will work the rest of your life to pay pension to older members OUR LOCAL UNION OFFICIALS LOVE THIS PLAN IT IS GREAT FOR THEM ONE OF WICH IS A BOARD MEMBER . You do not have to take this, and should send age discrimination complaint to US Department of labor EBSA33 WhitehallSt. Room 1200 Newyork,NY 1004
 
[quote author=rkc custom link=topic=68219.msg836378#msg836378 date=1276183377]
New York State Teamsters pension fund changes. These changes are great if you have 25 years or moor, if not you will work the rest of your life to pay pension to older members OUR LOCAL UNION OFFICIALS LOVE THIS PLAN IT IS GREAT FOR THEM ONE OF WICH IS A BOARD MEMBER . You do not have to take this, and should send age discrimination complaint to US Department of labor EBSA33 WhitehallSt. Room 1200 Newyork,NY 1004
[/quote]Whats the plan?you can pm me it if you don't want to post it .
 
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