Please go to www.regulations.gov and put MPRA in the search field and tell the Treasury how these cuts will affect you and/or why they seem unfair (i.e. work history with contributing company, already paid a penalty with your "and-out" retirement, cuts are deeper than necessary to take care of insolvency problem). Tell them your personal story, they need to hear from us! Also, for those of you that do not know - the union did not do this to you. Our Pension Fund has been under government oversight since 1978 to prevent us from colluding with the mafia, and remains under government oversight today. The government appointed fiduciaries to handle the Funds investments, this has cost the Fund billions of dollars since 1978 in investment fees alone. Mr. Nyhan was appointed by the DOL IN 1978, earns over $690,000.00 a year and has 16 attorneys at his disposal. Other facts - 41% of the participants in the pension fund are over 75 years old. Yellow freight is only paying 25% of their pension obligation and I think they will have a 2% increase in 2019. The governments appointed fiduciaries Goldman Sachs and Northern Trust got bailed out with billions of tax payers dollars in 2008 after they foolishly gambled with our livelihoods. TELL THE TREASURY YOUR STORY.
TForce | PENSION CUTS
- Thread starter TT411
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I am compiling a list of examples to present to the Treasury Department to show them that the Pension Cuts are not being distributed fairly across the beneficiary population. This was a rule that was required under MPRA. That and that they did not cut more than necessary. If you are retired please advise your age at retirement and your age now. How many years of service did you have and what years did you work, from what to what? (Some of your benefits were earned at 2%, not 1%). Did you retire from a contributing company? Are all of your years of service with a contributing company? If you took a early retirement did you a pay penalty? Do you know how much the penalty was? It looks like CSPF is hitting people with the maximum benefits that they can, squeezing every penny out of everybody they can and its not fair - I don't think the cuts are fair and they are not distributed equally. Please give me some examples. At the very least these cuts should be phased in over time and not hit retirees over the head all at one time
joes bar and grill
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You do know UPSF didn't take a cut because they are not in cspf right?
Thanks, I thought this was UPS. I thought they would have retirees in CSPF. Have a good day. :)
They do have some retirees' who will get a cut. I hope I have the dates right, but if they retired before 2007, then they will take a cut, after that the UPS company will make up the difference. Something like that, so they all did not escape the cuts. The exact dates are on the Central States web site.