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Yellow | An Unpalatable Plan To Rescue Failing Pensions!

Freightmaster1

Freightmaster1

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Unions are split on whether to go along. Teamsters President James P. Hoffa has called the proposal “a mad rush” to destroy retirement security. Teresa Ghilarducci, an economist at the New School for Social Research in New York, cautions that once multiemployer pensions get the go-ahead to cut benefits, single-employer plans will demand it, too, throwing millions of people’s retirements into doubt and undermining the whole point of a defined benefit plan. “It’s bad for households,” she says. “It’s also bad for the economy.”

Pension Rescue Plan Is Distasteful, yet May Be Necessary - Businessweek

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Freightmaster1 said:
Unions are split on whether to go along. Teamsters President James P. Hoffa has called the proposal “a mad rush” to destroy retirement security. Teresa Ghilarducci, an economist at the New School for Social Research in New York, cautions that once multiemployer pensions get the go-ahead to cut benefits, single-employer plans will demand it, too, throwing millions of people’s retirements into doubt and undermining the whole point of a defined benefit plan. “It’s bad for households,” she says. “It’s also bad for the economy.”

Pension Rescue Plan Is Distasteful, yet May Be Necessary - Businessweek

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Ghilarducci is a labor and pension advocate and former YRC board member. She still holds stock in YRC.

What are the basics on Teresa Ghilarducci? - PassFail

She remains an "independent director."
 
The failure of leadership in the country continues. From the government, to religious, to business, to education, to the press, everywhere you look, the eggheads and academics have replaced the common sense, moral and ethical people that led this country to greatness.
 
This is why I'm not changing jobs to chase after a higher pension payout. I gave myself a 15% "pay cut" years ago investing in company and union 401(k)s.
The higher the pension payout you think you're getting, the more you'll be disappointed when congress "fixes" the problem.
 
Freightmaster1 said:
Unions are split on whether to go along. Teamsters President James P. Hoffa has called the proposal “a mad rush” to destroy retirement security. Teresa Ghilarducci, an economist at the New School for Social Research in New York, cautions that once multiemployer pensions get the go-ahead to cut benefits, single-employer plans will demand it, too, throwing millions of people’s retirements into doubt and undermining the whole point of a defined benefit plan. “It’s bad for households,” she says. “It’s also bad for the economy.”

Pension Rescue Plan Is Distasteful, yet May Be Necessary - Businessweek

:452:
Click to expand...
Something is gonna happen weather we like it or not!:grouphug::fingure::Rulz:
 
The new absenteeism policy is mirrored after the new UAW absenteeism policy. The same with the pension fix will be just like UAW's pension. After you draw Social Security your pension will be cut back the additional amount you draw on Social Security.

Its the 'ol Ronnie Raygunn double dipping is wrong thing. I'm telling you right now that is how our pension its going to shake out, even with all the organizing and protesting by TDU.
 
point is that Multiemployer pensions don't work , it was a very bad plan from day one , a matching 401-K that you control is a much better plan and plus then when you die you family gets whats left in the account not the union , plus the union has way to many people on the payroll of the pension fund sucking a big salary out of the fund & plus their are what like 2 trucking companies still paying into it !!! and WHY should YRC & ABF have to pay for workers of other companies that went out business years ago ??? it really is a no win plan !!!
 
I have been saying that for the 27 years I have been in the union. Give the workers a choice, either pay into the union pension and let them tell you what you can do after you retire and how much money you can get or put it into a 401k and then we can do what we want after we retire and our families will be taken care of. How many of you know of drivers that worked for 30 years and just before they retire died or shortly after they retire they die and the family get very little or nothing at all.
 
Infidel said:
This is why I'm not changing jobs to chase after a higher pension payout. I gave myself a 15% "pay cut" years ago investing in company and union 401(k)s.
The higher the pension payout you think you're getting, the more you'll be disappointed when congress "fixes" the problem.
Click to expand...
I agree and say dont give up what little we have and start over to have less!
 
Snark Monkey said:
The new absenteeism policy is mirrored after the new UAW absenteeism policy. The same with the pension fix will be just like UAW's pension. After you draw Social Security your pension will be cut back the additional amount you draw on Social Security.

Its the 'ol Ronnie Raygunn double dipping is wrong thing. I'm telling you right now that is how our pension its going to shake out, even with all the organizing and protesting by TDU.
Click to expand...

this is all government controlling.They want all pension funds to be controlled by the fed.It is FAIR that all people should get the same at retirement why should those big bad unions get more. Wake up people.And remember what SR said get the government OUT of my union .They want to put all pensions into SS and government control.Its not a D or R it is government overall.
 
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