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Yellow | Central States Big Wig Calls For 30% Benefit Cut!

ESP said:
do I detect a little sarcasm? Hey if are upset with the yes voters, just come on out and say it. :LMAO:
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Well it's coming faster than expected.even the retired guys that were saying vote yes figuring it would buy them some time.WRONG!!! I'm not upset with yes voters, just extremely disappointed. Now we all have to live with it.
 
ESP said:
MUD, you know it does not and that is what brothers me the most, I could live with a 5 0r 10 per cent cut, but anything else will be a hard to swallow thing. This 30 is better than what they have been talking about with pbgf a 66% cut. I feel for you about the insurance, I had when I retired it was 50 bucks a month for both me and my wife. not they priced me out years ago and I paid 250 a month till be got on medicare. now it cost 500 for the both of us. Got to love it. GO BUCKS!!!!!!!!!!
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GO BUCKS!!!!!!!!!, as in ????
 
ESP said:
MUD, you know it does not and that is what brothers me the most, I could live with a 5 0r 10 per cent cut, but anything else will be a hard to swallow thing. This 30 is better than what they have been talking about with pbgf a 66% cut. I feel for you about the insurance, I had when I retired it was 50 bucks a month for both me and my wife. not they priced me out years ago and I paid 250 a month till be got on medicare. now it cost 500 for the both of us. Got to love it. GO BUCKS!!!!!!!!!!
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The PBGF is broke also. It would difficult to live on the PBGF monthly check even if there are funds for it.
 
cellblock309 said:
wake up people you don't have to be a genius to figure it out more taking out and living longer and less paying in recipe for lack of funds besides the medical benefits for retires and there spouse was way to cheap years ago and still is I bet that hasn't helped the fund if its all in one I don't know I am assuming it is some years ago said it was like 50 dollars for you and your spouse I know retired union meat cutters where paying back then 750.oo for them and spouse now its over 1000.00
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This article tells the whole story.
"TRUSTEES?" from the IBT & Employers are both to blame!
Betting on the stock market via Goldman Sachs/Northern Trust?

BOARD OF TRUSTEES
UNION
Charles A. Whobrey
Jerry Younger
George J. Westley
Marvin Kropp


EMPLOYER
Arthur H. Bunte, Jr.
Gary F. Caldwell
Ronald DeStefano
Greg R. May



Fears Over Pension Funding - WSJ
 
mud said:
When I retired five years ago with the Western Teamsters my health insurance was free. I payed $276.00 a month for my wives health insurance. I now pay $804.00 a month for both of us. The first of this year, Western Teamsters sent me a letter pointing out that my health insurance hasn't been raised in two years.
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I, almost/personally, consider you lucky.
We current employees, constantly discuss retirement. Myself included.
Per my opinion, never, ever, is a "retirement" guarantee attached!
Although freedom for myself is just 45 months away.
A majority of fellow employees gaze hopefully 20-30 years into the future.
May they all retire healthy and prosperous in their elder years.
 
After reading his report I believe what he is saying is "throw the members of companies that went out of business under the bus, we can't afford them"???
 
Freightmaster1 said:
According to the last Form5500 Report to the IRS, these Central States "employees' annual direct compensation paid by the plan were...
Thomas C. Nyhan $333,188
Albert M. Madden $221,878
John J. Franczyk Jr. $212,734
Robert Coco $212,420
Mark F. Angerame $184,606
James Condon $181,845
Peter Priede $170,498
William J. Schaefer $151,705
Brad R. Berliner $145,562
Albert E. Nelson $143,715
Charley H. Lee $139,281
Frank J. Carey $137,322
John Young $136,277
Thomas Weithers $119,251
Andrew M. Sprau $117,045
Lauren Saar $116,778
Carol B. Evans $116,708
Ray A. Hale $114,603
Daniel Shepard $109,215
Timothy C. Reuter $108,058
Jeffrey Morris $107,304
Juan J. Beaton $106,566
Megan Griffiths $106,114
Jason Childress $104,956
Scott B, Robbins $104,424
Mark L. Vieu $103,713
Eric Fisher $103,507
Holly Gustafson $102,988
Brian Hanlon $102,853
Nicholas Declerk $102,743
Eric J. Kingdon $101,535
Natalie M. Plucinski $102,456
Pamela A. Langley $100,817
Elizabeth Allen $100,799
Bonnie Velazquez $100,561
Carla Lyons $100,510
Aldona Zajauskas $100,102

These are the top 37 "employees" that make over $100,000 per year!

427 other "employees" make less than $100,000 per year.

Trustees listed are...

Arthur H. Bunte Jr. $32,308
George J. Westley $31,106
Jerry Younger $23,022
Greg May $20,867
Charles A. Whobrey $13,657
Gary Caldwell $10,298
Ronald De Stefano $9,680





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Thanks for the info!

Can you post the link to the IRS site?

I would love to research every one of these crooks and what service they provide.
 
Freightmaster1 said:
Go to Benefits Pro

Log in.

Be sure to search Trustees of Central States SE and SW Areas Pension Fund. Wait until you see how much the fund paid out for "Investment Services"!
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Why don't you throw a few #"s at us getting on that site is a little hard
Received my confirmation and still won't let me on.
 
I'm SOOOO glad to see everyone is alive an well... and OH so interesting! How is it that NO pension is better than 30% cut in pension?
 
SinC said:
I'm SOOOO glad to see everyone is alive an well... and OH so interesting! How is it that NO pension is better than 30% cut in pension?
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What Pension? The people bleeding the pension all these years don't care about us!
I was talking to the BA about a month ago and I asked him what he thought about the pension issues.
HE TOLD ME I SHOULDN'T WORRY ABOUT THINGS I CANT CHANGE
I lost my cool and told him that easy for him to say since he gets his. I'll pay my dues but I will never give a s*%# about this Union again nor will I ever step foot in the hall again!
 
SinC said:
What will everyone live on then? God knows very few plan so that the Pension is just "extra"... They planned to live on that money....
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Deregulation of the trucking industry started 34 years ago and the people that are supposed to have our back the Union knew this day would come yet they did nothing. They organized Overnite and left out the pension part. The fund is such a disaster that UPS and many other companies have fled. I have 38years and continuing to do the same thing we are doing is not only insane it's stupid ! Think about this when the age was raised to 65 they sat down with a mortality table and realized a large % and their families would never draw anything!

I tell ya what there are a little over 10 million people in this county that participate in multi -employer pensions to make it easy. 10,000,000 times $50 a month is $500,000,000.00 a month gather up all the plans in one pile. Get rid of the blood suckers running them and place the monies in secure investments and don't pay BILLIONS to write the checks. All this for $50.00 a month!!!!
 
SinC said:
What will everyone live on then? God knows very few plan so that the Pension is just "extra"... They planned to live on that money....
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Remediation of deeply troubled plans
The NCCMP proposal recognizes that some plans are so deeply troubled that the existing rules are not sufficient to save them. The proposal recommends that these plans be permitted to suspend benefits — including the benefits of retirees in pay status. The plans would not, however, be permitted to suspend benefits below 110% of the PBGC guarantee. For multiemployer plans, the PBGC guarantee is currently a maximum of $12,870 for a participant with 30 years of service.

So if CSPF or the PBGF sends you the check it could be the same if congress passes Solutions Not Bailout legislation !
 
SinC said:
I'm SOOOO glad to see everyone is alive an well... and OH so interesting! How is it that NO pension is better than 30% cut in pension?
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at what point do you say no , -50% cut or -95% cut ?? or like our wages -25% or -35% givebacks ? point here is that they have to come up with a pay to save it ?? have heard of a plan to combine all of the broke funds into one super fund ???
 
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