Discussion in 'Central States Pension Fund Discussion' started by UTR906, May 2, 2016.
My wife is going to be so upset, I just blew hot coffee all over the keyboard and the monitor. Is that supposed to be our pension boat ?
And all you Orphans riding on the left side.
Yes, that's the Good Ship CSPF!! If you look real close you will see Capt. Nyhan in the wheelhouse.
He is the only one with a life preserver on!!
I am glad you all like my pic of the good ship "Central States". This is not to be confused with the good ship SS Central America. She sank off the Carolina coast in September 1857. She sank with 578 souls and 30,000 pounds of gold. The good ship "Central States" sank on May 7, 2016. She had 400,000 + souls on board. She carried no gold, only broken promises. At one time she was a good ship. She fell victim, not to a hurricane, but neglect. When needed repairs to her were required, she was ignored. As she started to take on water, no one manned the pumps. All we got from the wheel house was arrogance and "smoke and mirrors". RIP "Central States".
SS Central America
Good analogy there and a little levity to this dire situation. CSPF biggest, firstest but not the lastest. And we move one step closer to our next revolution/civil war.
" I hold it that a little rebellion now and then is a good thing, and as necessary in the political world as storms in the physical"
January 30, 1787
Nyhan and Hoffa should have their nuts cut off, if they have any. I say no cuts,let CSPF run out of money and let the Fed. pick up the tab. CSPF pays millions for the insurance,use it.
Obviously you have no concern for anyone not retiring soon....
I want my retirement...plain and simple. No cuts period!!!
I want us ALL to get the same amount. Math is math. There's barely enough to give half to anyone.
There is just one little problem with that philosophy. That Govt. pension dollar amount is about 1/3 of what we had coming to us from CSPF.
The Union and CSPF were asleep at the wheel, and this should have been addressed years ago, especially since the decline in union membership was right under their nose. But they did nothing to address it, so now oldsters are getting the shaft.
And the Pension Guarantee Board goes bankrupt at the first claim.
They had 10 years to work on that. Nooooo we gotta solve that problem now.
But so did the Union and CSPF.
We saw the numbers, and many of us knew that they needed to either fix this or the funds were doomed. And they did absolutely nothing.
I'll not argue that point Flash, didn't just wake up today myself. I find it hard when everyone says its now up to we CSPF participants to fix PBGC for the rest of the country/industries. We did not cause this ourselves but damn sure gonna be us that fixes it.
I'm not very confident that "We" can fix it.
Hope all is well with you Brother.
Your probably right, once the PBGC is flush with cash we can put IOUs in it and take the pot for something else.....Hey I know, send surplus peanut butter to the retirees.