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the sandwich seems to be nothing but soup now.
The problem is the IBT and the Locals do NOT negotiate into the CSPF when they win an organizing campaign....very few do. How many bus drivers, sanitation workers, parking lot attendants, rental car companies, etc,etc have been added to those funds?
The money that was lost in 2008 due to those who were given the appointment by President Reagan in 1985 invested it in their own companies and it was making money, and the members got increased pension benefits until the 2007 stock market starting to crash....couple that with the cuts voted on by THE MEMBERS to be continued until 2019 ....members hanging it up and retiring with penalties before age 65....and no one else coming into The Funds, and BOOM....there you have it.
AND, not one of those investment firms and banksters on Wall st. have yet to go to jail for it.
It sucks, but we have to keep putting pressure on those in congress to change this mess, but you saw how all that worked out.....KK