Why should the well managed funds bail out the funds that were mismanaged and overly generous. Wasn't long ago New England was giving 30 and out with a lump sum bonus, other funds didn't and are solvent, why should they be asked to pay for benefits they never recieved.[/QUOTE
What is the ratio of active to retired in your well managed fund. Not one Teamster had any control over the management of any pension fund. 30 and out was pretty much the norm as far as I know. I'm not saying one should bail out another but the government needs to clean up the mess they created. The CSPF is one of the largest MEPF in the country and its managed by the government!!!! Things can be done but the government only knows how to inflict pain on you and me! When is America going to start taking care of Americans!!!!
Until this came out...
The Pension Benefit Guaranty Corp.’s balance sheet for its multiemployer insurance program certainly leaves that impression. According to it 2014 annual report, released Monday, the PBGC has less than $2 billion in assets to cover more than $42 billion in projected multiemployer plan liabilities.
Freightmaster1 has a thread started on this subject...