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Jeff

Jeff

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Truckingboards has a great presence on the internet and this forum has been created to let those affected post their views about the situation .... This is not a Union vs Non-Union forum and those who try to turn it into one will be banned from participating in this discussion.
 
Democrats Who Pretended to Try to Kill the Bill

Blumenthal Richard CT D (202) 224-2823
Booker Cory NJ D (202) 224-3224
Boxer Barbara CA D (202) 224-3553
Cantwell Maria WA D (202) 224-3441
Gillibrand Kirsten NY D (202) 224-4451
Harkin Tom IA D (202) 224-3254
Hirono Mazie HI D (202) 224-6361
Klobuchar Amy MN D (202) 224-3244
Levin Carl MI D (202) 224-6221
Markey Ed MA D (202) 224-2742
Menendez Robert NJ D (202) 224-4744
Merkley Jeff OR D (202) 224-3753
Reed Jack RI D (202) 224-4642
Tester Jon MT D (202) 224-2644
Whitehouse Sheldon RI D (202) 224-2921
Wyden Ron OR D (202) 224-5244

http://crooksandliars.com/2014/12/cr-omnibus-good-dems-bad-dems-dems-who-are
 
there are so many variables to what has gone on with the teamster pension funds it's hard to put a finger on one aspect of the downfall of the central states fund. YRC not paying in to the fund for their workers and retirees is a slap in the face. These men have continued to work while incurring a pay cut and no pension funding. Makes you wonder what the final destination for these employees is. The UPS buyout of their employees section of the fund creates another imbalance. They pay what 7 billion to get out of the funding part yet the union still pays the bill for their retirees? what's that about? I look at the western conference which is still operating in the black although that could change at any time. Probably better investments with their respective monies. I'm not sure how the eastern conference fund is doing but I'm sure it's still solvent. Lot's of union activity on the east coast. those of you who DON"T get it understand this.......you would not be making the money you do if it weren't for the union stepping in back in the mid 1900's and demanding a better life for their members. You all would be working for minimal wages and upset over the fact you don't have a better life. Another problem is the pension guarantee corp of america only guarantees 39 per credit if your fund goes insolvent. so if you have 30 years and funds goes upside down you're getting approx 1200 a month. Just fyi. better than nothing. hopefully something changes within our corporate structure and the government demands companies join a multi-employer funded pension. something has to change or your parents and their parents won't have a life come 65.
 
nobodysboy said:
there are so many variables to what has gone on with the teamster pension funds it's hard to put a finger on one aspect of the downfall of the central states fund. YRC not paying in to the fund for their workers and retirees is a slap in the face. These men have continued to work while incurring a pay cut and no pension funding. Makes you wonder what the final destination for these employees is. The UPS buyout of their employees section of the fund creates another imbalance. They pay what 7 billion to get out of the funding part yet the union still pays the bill for their retirees? what's that about? I look at the western conference which is still operating in the black although that could change at any time. Probably better investments with their respective monies. I'm not sure how the eastern conference fund is doing but I'm sure it's still solvent. Lot's of union activity on the east coast. those of you who DON"T get it understand this.......you would not be making the money you do if it weren't for the union stepping in back in the mid 1900's and demanding a better life for their members. You all would be working for minimal wages and upset over the fact you don't have a better life. Another problem is the pension guarantee corp of america only guarantees 39 per credit if your fund goes insolvent. so if you have 30 years and funds goes upside down you're getting approx 1200 a month. Just fyi. better than nothing. hopefully something changes within our corporate structure and the government demands companies join a multi-employer funded pension. something has to change or your parents and their parents won't have a life come 65.
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I think your on to something.
 
The Government isn't going demand any company to join any multi-employer funded pension their doing everything they can do bust the ones out there now they want everyone working now on 401 plan. Then that way no one is to blame but you for vesting it wrong.
 
and corporate raiders can freeze a 401 and block your ability to get your money. all I'm saying is the government needs to stop backing big business and make sure they take care of those who have helped build their respective business.
 
KK. I have a question that you might have the answer to.

Since UPS paid 6 billion or whatever it was to get their employees out of the pension fund, I've always wondered if that 6 billion was set aside for ONLY UPS retirees to collect at a later date, or was that money put into the general fund for everyone to collect as they retired?
And if it was put into the general fund for everyone to collect, where the hell did it all go?

Thanks in advance.
 
Northern Flash said:
KK. I have a question that you might have the answer to.

Since UPS paid 6 billion or whatever it was to get their employees out of the pension fund, I've always wondered if that 6 billion was set aside for ONLY UPS retirees to collect at a later date, or was that money put into the general fund for everyone to collect as they retired?
And if it was put into the general fund for everyone to collect, where the hell did it all go?

Thanks in advance.
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The money paid to CSPF by UPS, was a withdrawal penalty. None was set aside for any purpose. There was specific language to protect UPS employees, UPS would protect the retirement benefits. Any future reduction to UPS retirees benefits who were retired at the time of their (UPS) would be offset by payments from UPS. From what I have read, that DOES NOT apply to those who retired after UPS's withdrawal.
 
albag said:
The money paid to CSPF by UPS, was a withdrawal penalty. None was set aside for any purpose. There was specific language to protect UPS employees, UPS would protect the retirement benefits. Any future reduction to UPS retirees benefits who were retired at the time of their (UPS) would be offset by payments from UPS. From what I have read, that DOES NOT apply to those who retired after UPS's withdrawal.
Click to expand...

Just want to add a point, like you stated part of the withdrawal agreement between UPS and CSPF was that UPS would make up any future reductions to benefits for their retirees. UPS lobbied heavily for the MPRA bill and their employees were put in a class that was least affected by the cuts ( Tier 3 ). According to CS literature this Tier 3 UPS transfer group numbers 12,000 or 12% of CSPF fund participants. How much exactly this move saved UPS is unknown.

As far as what happened to the $7 billion or so UPS paid to withdraw from CSPF, it was lost in the market with 9 months of being paid to the fund. One more reason these crooked investment companies retained by CSPF should be investigated and legal action taken against them.
 
nobodysboy said:
there are so many variables to what has gone on with the teamster pension funds it's hard to put a finger on one aspect of the downfall of the central states fund. YRC not paying in to the fund for their workers and retirees is a slap in the face. These men have continued to work while incurring a pay cut and no pension funding. Makes you wonder what the final destination for these employees is. The UPS buyout of their employees section of the fund creates another imbalance. They pay what 7 billion to get out of the funding part yet the union still pays the bill for their retirees? what's that about? I look at the western conference which is still operating in the black although that could change at any time. Probably better investments with their respective monies. I'm not sure how the eastern conference fund is doing but I'm sure it's still solvent. Lot's of union activity on the east coast. those of you who DON"T get it understand this.......you would not be making the money you do if it weren't for the union stepping in back in the mid 1900's and demanding a better life for their members. You all would be working for minimal wages and upset over the fact you don't have a better life. Another problem is the pension guarantee corp of america only guarantees 39 per credit if your fund goes insolvent. so if you have 30 years and funds goes upside down you're getting approx 1200 a month. Just fyi. better than nothing. hopefully something changes within our corporate structure and the government demands companies join a multi-employer funded pension. something has to change or your parents and their parents won't have a life come 65.
Click to expand...
Sounds like you and a couple others didn't read post #1?
 
jimmy g said:
Sounds like you and a couple others didn't read post #1?
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?? maybe you didn't understand it. I did. and am only posting what is true and pretty factual. don't make something out of nothing. nothing I said was inflammatory or negative.
 
jimmy g said:
Not according to post #1 2 3 and 4
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oh ok buddy. you apparently are making something out of nothing. my dad, may he rest in peace, always said 1/3 of the world makes something out of nothing, 1/3 of the world doesn't and 1/3 doesn't care one way or the other. Tell me where you sit. I said nothing offensive or derogatory. Just hoping for a better life for all. That's where I stand. My last post to you bud. have a good life.
 
nobodysboy said:
oh ok buddy. you apparently are making something out of nothing. my dad, may he rest in peace, always said 1/3 of the world makes something out of nothing, 1/3 of the world doesn't and 1/3 doesn't care one way or the other. Tell me where you sit. I said nothing offensive or derogatory. Just hoping for a better life for all. That's where I stand. My last post to you bud. have a good life.
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The first four posts said keep the discussion limited to the pension and don't mention unions. Then about four posts, starting with yours- went straight to unions instead of Pensions. And one of those in power then gave you a like, breaking Jeff's rule of post #1... I don't see that as nothing. I see it as disrespect for Jeff, and his board..
 
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