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Yellow | Big Vote Coming in Central States Fund Don't Let Them Divide Us!

bigtruk_us said:
I don't know how the fund managers can know if the cuts will sustain solvency?? As I'm under the understanding that any cuts made.Must show that these cuts will permanently fix that fund.That is in the amendment.or am I wrong?
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You are correct. I believe that Central States is still waiting for a final interpretation of the new law from the Department of the Treasury before they formally apply for suspension of benefits. Here is a link that details how the new law should work. Read the first seven pages.

https://www.cheiron.us/articles/Cheiron Client Advisory_Vol. 12 Issue 1_Spring 2015.pdf

Once the application is made the clock starts ticking. Personally I believe that benefit reduction will only be one part of it. They will also look at a partition of the fund. There also is a possibility of merging with another fund. All options are now on the table. The new law clearly states that whatever action is taken, the end result has to be the stability of the fund going forward.
 
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BaBaLoo said:
I have a couple of suggestions:

1. Keep Your Eyes Moving
2. Get The Big Picture
3. Leave Yourself An Out

:kicking: :hilarious: :icon dance: :hyper: :grin:
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KEY 5. MAKE SURE THEY SEE YOU!
The politicians need to understand that THEIR jobs will depend on how the multi-employer crisis is resolved. Write letters, call them. This issue goes far beyond CSPF and Teamsters. Anyone whose retirement relies on a multi-employer fund is at risk!
 
what i have learned here is everything will stay as is because all the people on here think nothing can be done so doing nothing is what they will do .not any differant than voting yes . just dont rock to boat and be thankful for what you used to have
 
Freightmaster1 said:
http://www.tdu.org/news/big-vote-coming-central-states-fund-dont-let-them-divide-us


7AhsgvO.jpg

:1036316054:
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Telling people how to vote on something not proposed yet??????
 
highheadblues said:
Hate to throw water on their proposed solution, but pension relief is a fairy tale as long as republicans control congress. Their thing is crushing unions not helping them.
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Oops, Obama just signed the pension reform act allowing Multi Employer pensions to reduce benefits... The law was written by 2 Democrats...
Nice try there trying to blame it on someone else..... ......
You union dues paid Democrats for the upcoming pension cuts.... enjoy them......
 
wtf unless you post that everything is rainbows and puppy dog no one will take you seriously here anyways .just say everything is great everything is great .and you will get along just fine here .if you point out any fault .they will jump you like a bunch of punks
 
One of the keys is "Get The Big Picture." Political party affiliation is not important. Who controls the money is important. Many pensions are underfunded. The Central States Fund will be one of the first to implement changes under the new law. That is why it is important to vote no regardless of what changes are proposed. It is the only political statement that we can make at this time. Make them override the vote. There may be enough blowback to get noticed. Going forward, this is just the beginning. The ultimate goal of the financial interests is to get their hands on your retirement benefits with little or no regulation. Defined pension plans are being phased out. Individual accounts will replace them. Your 401k accounts will be managed by Wall Street Fund managers. Legislation is currently being proposed that will eliminate their fiduciary responsibility in regards to the investments they pursue. In other words, if your individual account goes broke, they will not be held liable. It's a setup! Pension funds now. Social Security next. The bankers, politicians, corporate and union leaders are all sleeping in the same bed. It is hard to not become cynical and give up. But we still need to fight greed if we can. Voting "NO" is one of the ways we can still fight.
 
Puff Driver said:
Oops, Obama just signed the pension reform act allowing Multi Employer pensions to reduce benefits... The law was written by 2 Democrats...
Nice try there trying to blame it on someone else..... ......
You union dues paid Democrats for the upcoming pension cuts.... enjoy them......
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The Miller-Kline Bill was written and introduced by a Republican AND a Democrat....KK
 
Kennesaw Kid said:
The Miller-Kline Bill was written and introduced by a Republican AND a Democrat....KK
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Yes that is absolutely correct....! The bill was stuffed into the Omnibus Spending Bill. No one individual part of the Omnibus Bill could have been vetoed. The only way it could have happened would to be to veto the whole damn thing and that would have denied funding to the entire government. As for the Democrat Republican thing. John Kline is a major sponsor and a Republican from Minnesota. George Miller was a major sponsor a Democrat from California (since retired).
 
longblade said:
wtf unless you post that everything is rainbows and puppy dog no one will take you seriously here anyways .just say everything is great everything is great .and you will get along just fine here .if you point out any fault .they will jump you like a bunch of punks
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All I said was 'telling how to vote on something that's not proposed yet'?
 
jimmy g said:
All I said was 'telling how to vote on something that's not proposed yet'?
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The legislation clearly requires that those of us referred to as orphans must take the maximum cut allowed. That cut is to 110% of the PBGC insured rate. That cut comes before any cuts to actives or those who retired from active contributing employers can be cut. That is also before any cut to UPS retirees from CSPF. From my prospective as a retired orphan the amount of my cut is clear. If you are still working or retired from say ABF or YRC yes the proposal has not been made public but as for the orphans its as clear as the nose on your face. For me that is a 62% cut in my pension.
 
COOPER said:
The legislation clearly requires that those of us referred to as orphans must take the maximum cut allowed. That cut is to 110% of the PBGC insured rate. That cut comes before any cuts to actives or those who retired from active contributing employers can be cut. That is also before any cut to UPS retirees from CSPF. From my prospective as a retired orphan the amount of my cut is clear. If you are still working or retired from say ABF or YRC yes the proposal has not been made public but as for the orphans its as clear as the nose on your face. For me that is a 62% cut in my pension.
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I understand that. Still, nothing is in writing yet, so try to tell people how to vote is putting the cart before the horse.

Main reason I post that is because a few on here scream that anyone questioning anything and not automatically voting NO are ' Lollypops, unicorns, hunting for turds, etc.etc,etc.'. I'm not the kind to sit in misery all day, nor to force others to join me in that misery. Such is sad to live that way...

Get the Facts, in writing. Then decide...

(Mine will cut too)
 
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Puff Driver said:
Oops, Obama just signed the pension reform act allowing Multi Employer pensions to reduce benefits... The law was written by 2 Democrats...
Nice try there trying to blame it on someone else..... ......
You union dues paid Democrats for the upcoming pension cuts.... enjoy them......
Click to expand...
The bill is there regardless of who put it there,dems/reps,rin/stimpy,etc,etc. we need to stay on track and do all we can as brothers and sisters to try and make it as painless as possible by doing our part. Let's be part of the solution and stay focused.
 
A few years ago Mr. Nyhan, director of the Central States fund, said that a 30% across the board cut in benefits would stabilize the fund. The total asset level of the fund has not changed much since then. Hopefully that may be the deepest level of cuts that anyone will see. We will find out soon enough. The 180 day window for the Dept. of the Treasury to publish its final guidelines is almost up. Once they are published, Central States will go forward with whatever plan they have come up with. Just a thought. Maybe Mr. Nyhan is really looking out for our best interests. If nothing is done at all, the fund could potentially go broke. We could then bankrupt the PBGC and end up with nothing. The Federal Govt. does not appear to be interested in bailing us out or going after the Wall Street crooks who stole our money. A piece of something is still better than a piece of nothing. I am disgusted as anyone and by no means am I sticking up for the guy. But maybe, just maybe, he really is trying to do the best he can to protect our interests to the best of his ability. I for one hope that he is.
 
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