Holland | #707 pension letter

[Northern Flash]

I think the "poison pill" explanation says it all.

You get 110% of a small amount, or 100% of a small amount. Either way, it's still a small amount.
When I started my Union career, I wasn't promised a small amount.

 

[Northern Flash]

I agree but who what company would ever again agree to join a MEPF? Hoffa and Hall made sure that will never happen when they gave UPSF/Overnite a stand alone contract. FedEx or any other company organized will demand the same

Which is exactly why I think that the Union's future is in deep doo doo.

I sure hope that I'm wrong.

 

[Crystal]

The letter reads "in the long term the fund continues to advocate for legislative relief" When I started back in 69 I think the accrual was $15. In every step along the way the fund followed the laws written by congress. Congress even controlled how much the MEPFs had to pay the PBGC. I know relief from the congress is highly unlikely but they created this mess. The back room Kline Miller NCCMP lobbied deal isn't the answer. KOPPA, in the unlikely chance that it is passed, would correct that mistake

 

[Northern Flash]

It sounds to me like the fund is banking on a govt. bailout. The average citizen will be tickled pink to hear of the Govt. bailing out a pension fund with their tax dollars, when those same citizens don't even have a pension fund of their own. That should go over well.