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ABF | 21 years at ABF in central states

retiredthankgod said:
Thanks mud. Got an email from pension rights center and they want our input; ideas, stories, questions, comments. Its a very good sight to get gov contact numbers for comments. They have a special web page.for stories with hundreds of teamsters explaining their situations...so sad, so.pissed off. We need to keep fighting...power in numbers
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I'm an orphan in the CSPF with Detroit Transfer Co.
 
I'm glad I'm not in the CSPF, because I have a whole list of "orphaned" carriers. 40 years a Teamster, and the only pension time I have that counts is the 23 years I have with ABF. everything else is lost due to various breaks in service. However, our fund isn't in very much better shape than CSPF. I figure the same drastic cuts will be imposed on our fund ( W. Pa.) within a year or two.......It's funny how blithely we can talk about cutting pensions as if it's just normal business to cheat a working person ,......,after he spent his youth, strength, and health,.....and sometimes his family life,.......just to make other people wealthy,....... And then, when you asked for what you've earned, you're made to feel like your begging crumbs from a rich man's table.....
 
canaryinthemine said:
I'm glad I'm not in the CSPF, because I have a whole list of "orphaned" carriers. 40 years a Teamster, and the only pension time I have that counts is the 23 years I have with ABF. everything else is lost due to various breaks in service. However, our fund isn't in very much better shape than CSPF. I figure the same drastic cuts will be imposed on our fund ( W. Pa.) within a year or two.......It's funny how blithely we can talk about cutting pensions as if it's just normal business to cheat a working person ,......,after he spent his youth, strength, and health,.....and sometimes his family life,.......just to make other people wealthy,....... And then, when you asked for what you've earned, you're made to feel like your begging crumbs from a rich man's table.....
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I think it's worth going to war over.
 
ABFer said:
I think it's worth going to war over.
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Please do not think that I have given up. "THE WAR IS OVER". The government has made a decision to go thru with this killing bill at any cost. Our fight has been in vain, just to make us feel like we did something. My personal trips to DC, proved one thing. This was planned and implemented in a fashion, so it cannot be changed, short of a new bill that no one plans to introduce in time. The sole intent is to save the PBGC on the backs of 10 million union people. The 225 day waiting period is nothing more than a cooling off period, kind of a getting used to it phase. Good Luck and God Bless.
 
These cuts are to steep for anyone, cannot believe 21 years at Yellow 10 years orphan 2945 a month down to 1436 this is a 51 percent cut, also went from 3000 to 2945 , because of the 6 percent cut leaving before age 62 so these cuts will not stop after this if it happens. Also cannot believe all the trustees took a raise, while they want us to take cuts to save there jobs. Joesnow
 
It just doesn't seem like it is worth staying for us newer "writhing 5 years" employees... I'm guessing everyone retiring within 5-10 years will be ok here on the west. But geez the pension is why most people give up vacations.. Other companies pay more and do the 401k match, and vacation time after the 1st year not 2... The quality of drivers are going to plummet.. Not too many experienced drivers working at a company that have 2-3 or more weeks are going to leave to work for ABF and the 2 years of 50-60 hour weeks starting as a %er on call everyday... Just don't see it.. It is hard enough to get newer drivers to wait for that vacation... Yea he insurance is good to have, wage is good, but the pension is what makes people stay around...
 
Everyone is in it for the pension.
Joesnow said:
These cuts are to steep for anyone, cannot believe 21 years at Yellow 10 years orphan 2945 a month down to 1436 this is a 51 percent cut, also went from 3000 to 2945 , because of the 6 percent cut leaving before age 62 so these cuts will not stop after this if it happens. Also cannot believe all the trustees took a raise, while they want us to take cuts to save there jobs. Joesnow
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As painful as it might be, here's the truth. These thieves don't WANT your stories of despair. They have coined cute little terms for their blatant theft, like "rehypotication" and a "haircut" of account funds to make you feel better about their criminality and hopefully tolerate it better. The wall street jackaels have bought and paid for our "representatives"in congress, and the fix is in. They won't even start criminal investigations of what happened after Clinton and congress passed the repeal of the Glass-Stegal Act in 1999 that set all of this in motion. And it WILL happen again! There are trillions of dollars in worthless derivative junk financial instruments floating around the planet that will eventually need to be dealt with. Maybe Jamie Dimon @ JP Morgan or some of his cohorts on wall street could underwrite these pension funds with THEIR pension accounts to make things right, but don't hold your breath... It all started with Carter and the dem congress (yes they did) passing the trucking deregulation bill in 1979. There is plenty of blame to go around, but don't let the dems try to tell you they are for the working stiff any longer. They set in motion the mechanism that ultimately destroyed what James R Hoffa bequethed us. And I believe they realized that going in. I consider it a tribute to Mr.Hoffa's tenacity, wisdom, and love for his union that it has taken 35 years of corruption and deliberate intent to destroy what we had. When the union carriers started to go down, bankruptcy judges ignored the pension withdrawal liabilities, and subordinated them behind the creditors claims. And on and on...It has been an ongoing orgy of theft and corruption ever since,that, unfortunately has no apparent good end. Like the man says, "you ain't seen nothin' yet" So what can you do? Get mad and stay mad! Don't believe their lies, and hold them accountable! Nyhan and his buddies are just the tail-end stooges from this disaster that were left behind to tell every one to stay calm and remain seated until the flight crew has exited the aircraft. Now they are pathetically poking through the wreckage, pretending to look for the flight recorder.
 
Please indulge me a bit more, since I have gone off my meds again, and I know I am getting a bit far afield of the general topic here. I say it WILL happen again becuz these to-big-to-fail banks have been allowed to use phony mark-to-market accounting principles to value their derivative assets at what they HOPE they are worth, instead of their true valuation, which is toilet paper. IF they ever had to, they would be bankrupt overnight. The last time, the taxpayer bailed them out in 2008. This next time, they are coming for depositor assets. This is the Dodd-Frank Banking Act. They allege that depositors are somehow considered "investors" in their institutions. Why in the blue-eyed hell anyone would invest in a financial institution that won't reveal their true asset value balance sheet is not explained, but they plan to" rehypothicate" depositor funds to cover their losses next time, and we will be issued stock in their institutions instead of our deposits, which are gone under the fractional banking system in the US that says that they only have to keep 10% of their assets on hand to cover depositor demands.What happened last Christmas with the MPRA pension act that they passed is their logical extension of this Dodd-Frank Act to prevent taxpayer funds from being used to backstop pension losses caused by this wall street casino they were running. While we were busy working and playing by the rules and planning our futures around our pension promises, they changed the rules and ran the table on us. OK. I'm done. I'm going to put my demons to bed.
 
hangbelly said:
Please indulge me a bit more, since I have gone off my meds again, and I know I am getting a bit far afield of the general topic here. I say it WILL happen again becuz these to-big-to-fail banks have been allowed to use phony mark-to-market accounting principles to value their derivative assets at what they HOPE they are worth, instead of their true valuation, which is toilet paper. IF they ever had to, they would be bankrupt overnight. The last time, the taxpayer bailed them out in 2008. This next time, they are coming for depositor assets. This is the Dodd-Frank Banking Act. They allege that depositors are somehow considered "investors" in their institutions. Why in the blue-eyed hell anyone would invest in a financial institution that won't reveal their true asset value balance sheet is not explained, but they plan to" rehypothicate" depositor funds to cover their losses next time, and we will be issued stock in their institutions instead of our deposits, which are gone under the fractional banking system in the US that says that they only have to keep 10% of their assets on hand to cover depositor demands.What happened last Christmas with the MPRA pension act that they passed is their logical extension of this Dodd-Frank Act to prevent taxpayer funds from being used to backstop pension losses caused by this wall street casino they were running. While we were busy working and playing by the rules and planning our futures around our pension promises, they changed the rules and ran the table on us. OK. I'm done. I'm going to put my demons to bed.
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A very good synopsis of the situation, Brother. I thought that with all the hollering on Wall Street about Dodd-Frank, though,.......the CEO to employee pay ratio provision being the most recent stab-in-the-heart, according to the WSJ,........that Dodd-Frank was a good bill,......not a great one, as it didn't go far enough to remove the "too big to fail" onus, as they have in Europe,........ But adequate enough to keep Wall Street from ****** us again, at least not in the near future. So you say they are going to use depositor funds to......"balance".... the next bailout, and issue us " stock" in lieu of our funds? Good Grief! I"ll have to check that one out. As with all bills, the devil is in the details.......
 
New story that broke out on the Trucking show last night.A trustee of the CSPF spent 6 million dollars of the funds money to lobby Congress to pass the MPRA? ?? WOW!!! I think the trustee may be the one from Ohio for misusing membership funds that is under federal investigation.Doesnt that beat all
 
bigtruk_us said:
New story that broI get e out on the Trucking show last night.A trustee of the CSPF spent 6 million dollars of the funds money to lobby Congress to pass the MPRA? ?? WOW!!! I think the trustee may be the one from Ohio for misusing membership funds that is under federal investigation.Doesnt that beat all
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I think the treasury dept would be interested in this. Where can i get more info on this?
 
[QUO70s wwtiredthankgod, post: 995468, member: 34674"]I think the treasury dept would be interested in this. Where can i get more info on this?[/QUOTE]
The 700wlw trucking show last night Sunday night.They basically spent a quite a bit of time discussing the CSPF.It was on I heart radio.you might be able to replay that show.
 
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