A Picture Is Worth a Thousand Words

Discussion in 'Central States Pension Fund Discussion' started by UTR906, May 2, 2016.

  1. ESP

    ESP Well-Known Member

    Messages:
    2,460
    Likes Received:
    2,195
    Trophy Points:
    113
    This is my problem with the whole pension cut. (PBGC). Everywhere you read Congress and the pension fund deny that they are cutting our pension to save the PBGC. However when I was in DC. Every conversation was ended with if we wait and your plan fails it will break the PBGC. OK, then if we have to take a cut now and still have to pay more insurance money to the PBGC, will the PBGC remain solvent ? The answer is no they won't, so why take a cut and still pay more into the fund? The whole picture is to protect the government from funding the PBGC by changing ERISA. So all MEPF's will never be able to go to the PBGC, at the tune of 10 million retirees' over the next five years. HR83 of 2014, signed, sealed and delivered by your Congress and Senate and signed by your President. 161 pages of carefully crafted CYA words to allowed the ones who did not watch out for our pensions to be able to keep on doing it at an increase in pay. I really hope the Senate bill 2894, cutting the Directors and staffs pay equal to our cuts, goes thru as well. TWO days left and counting, Will Kenny even respond or just let the cuts happen?
     
    wolf likes this.
  2. wolf

    wolf Well-Known Member

    Messages:
    4,657
    Likes Received:
    291
    Trophy Points:
    83
    Just so you know ESP, Senator Stabenow voted yes to pass the MPRA as did Peters while he was still in the House. Now they gonna fix this for us.
     
    ESP likes this.
  3. ESP

    ESP Well-Known Member

    Messages:
    2,460
    Likes Received:
    2,195
    Trophy Points:
    113
    AH CRAP, I have a list of those people for and against it. I should have looked that up. I guess it depends on what side of the bed they wake up on, the side with the bribe money or not. Oh well, VOTE TRUMP, BUT NEVER CORRUPT HILLARY.:1036316054:
     
    wolf likes this.
  4. wolf

    wolf Well-Known Member

    Messages:
    4,657
    Likes Received:
    291
    Trophy Points:
    83
    How do you spell Zueise, Zuuese, Zueese, even spell check can't get it. :hilarious:
     
    jimmy g likes this.
  5. BaBaLoo

    BaBaLoo Delusional

    Messages:
    120
    Likes Received:
    264
    Trophy Points:
    63
    I have been sitting on the sidelines for awhile monitoring the situation. Here are my observations:

    1. The clock started ticking on the CSPF's eventual failure the day that UPS was allowed to leave the fund. 235,000 members paying into the fund are gone. No new companies organized. End of story. It was just a matter of time.

    2. MEPRA, passed into law during a lame duck session of Congress, is the solution the politicians and fund managers want.

    3. Any politician who is now trying to come to the rescue is not an honest broker. Many have taken up the cause because they are up for re - election. They will put on a good show for you. Any proposed legislation would need to get 60 votes in the Senate to even get debated on the floor.

    4. Remember this is the test case for everything to follow. The calvary is not coming to the rescue.

    5. The CSPF proposal is unfair. Cuts need to be applied equally. Our only hope is that Mr. Feinberg sees it the same way.

    6; The cuts can be accepted, rejected, or modified by treasury. My hope is modification by treasury that eliminates the different tiers and an application of the cuts equally.

    7. No matter what treasury decides everyone needs to vote NO! It is the only say we have in the matter.

    8. At the end of the process hopefully we are still better off than if we got shoved into the PBGC. The cuts are going to happen. I hope everyone is prepared and wish you all the best of luck.
     
    wolf likes this.
  6. jimmy g

    jimmy g Kook

    Messages:
    16,129
    Likes Received:
    8,305
    Trophy Points:
    113
    Zeus!
     
    wolf likes this.
  7. jimmy g

    jimmy g Kook

    Messages:
    16,129
    Likes Received:
    8,305
    Trophy Points:
    113
    Ding ding ding- GOLD STAR POST!
     

Share This Page