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Yellow | Central States Big Wig Calls For 30% Benefit Cut!

SinC said:
What will everyone live on then? God knows very few plan so that the Pension is just "extra"... They planned to live on that money....
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What part of I paid into the damm thing and it been mismanaged and stolen from don't you understand?
 
Bart said:
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Get rid of the blood suckers running them and place the monies in secure investments and don't pay BILLIONS to write the checks. All this for $50.00 a month!!!!
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What would you define as a "secure investment"?

Real estate crashed and burned back around 2008.

Interest rates are virtually zero these days.

Fixed income (bonds) are paying zilch.

Equities (stocks) took a hit back around 2008 but have recovered fairly well.

Please tell me (and millions of others) what would you consider a secure investment to be, and one that has a decent return?

We've basically lived in somewhat prosperous times for a few decades recently and have felt immune to strong economic downturns. Unfortunately we've experienced a fairly strong downturn in the past few years (the worst since the Great Depression) and we're not used to dealing with those conditions. Life isn't always improving, sometimes (occasionally) it takes a hit.
 
Triplex said:
What would you define as a "secure investment"?

Real estate crashed and burned back around 2008.

Interest rates are virtually zero these days.

Fixed income (bonds) are paying zilch.

Equities (stocks) took a hit back around 2008 but have recovered fairly well.

Please tell me (and millions of others) what would you consider a secure investment to be, and one that has a decent return?

We've basically lived in somewhat prosperous times for a few decades recently and have felt immune to strong economic downturns. Unfortunately we've experienced a fairly strong downturn in the past few years (the worst since the Great Depression) and we're not used to dealing with those conditions. Life isn't always improving, sometimes (occasionally) it takes a hit.
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T-bills , tax free municipal bonds , metals for the risky how about Casinos they are building them on every corner USA
You know you won't make much on T - bills but it better than losing money
A decent return as far as CSPF would make an investment for the long term and quit paying large fees to the good old boys club !
You know most people recovered their losses if they didn't panic I know I did.
How does that work for everybody else but not CSPF?
Cause the more I move the money the more I make $$$$$
That how it works !!!!!!!
 
CSPF could have taken a conservative approach 34 years ago when deregulation came about but they didn't and here we are today!
One only has to look at the Western States Pension Fund for comparison.
They were not immune to the same investment dynamics CSPF had to work with!
 
No need to worry the people that made these poor choices and poor decisions will not suffer but as for the rank and file just hold on to your ankles.
 
Are The "Administrative Expenses" Too High At The Central States Pension Fund?

Bart said:
Why don't you throw a few #"s at us getting on that site is a little hard
Received my confirmation and still won't let me on.[/Q

Are the "Administrative Expenses" Too High At The Central States Pension Fund?

According to the latest 5500 Report to the IRS, Central States paid out $901,215 in "Professional Fees", $33,741,381 in "other", and $44,344,901 in "Investment Advisory and Management Fees", for a total of $78,987,497 in "Administrative Expenses"!

These firms were listed as being paid compensation for "Investment Services"...

The Northern Trust Co of CT-$5,062,220
LSV Asset Management-$3,745,888
William Blair & Co LLC-$2,485,287
The Bank Of New York Mellon-$2,297,674
Wellington Management Co LLP-$2,196,458
Pzena Investment Management-$2,148,742
Cramer Rosenthal McGlynn, LLC-$1,975,698
Institutional Capital LLC-$1,767,596
Oaktree Capital Management, LP-$1,608,071
Pacific Investment Management Co-$1,459,470
Genesis Asset Managers-$1,397,780
Cohen & Steers Capital Management-$1,258,005
TCW Asset Management Co-$1,160,232
W R Huff Asset Management Co, LLC-$1,157,482
Westfield Capital Management Co-$1,153,030
State Street Global Advisors-$1,113,286
Columbus Circle Investors-$1,067,062
BNYM Cash Investment Strategies-$1,060,836
Turner Investments-$1,044,552
Triology Global Advisors, LP-$975,970
Causeway Capital Management, LLC-$962,101
Ballie Gifford Overseas LTD-$935,921
Stone Harbor Investment Services-$928,581
Donald Smith & Co Inc.-$886,317
Jennison Associates LLC-$764,449
Denver Investments-$761,390
Thornburg Investment Management Inc-$697,086
Artio Global Management LLC-$632,387
Tradewinds Global Investors, LLC-$569,120
Riverbridge Partners-$541,620
Cardinal Capital Management-$515,867
Delaware Investment Advisers-$469,401
Mellon Capital Management Corp-$397,517
UBS Global Asset Management (Americas)-$395,345

I think it's high time that Hoffa and his cronies at the IBT call for a full investigation into how our pension contributions are being spent at the Central States Pension Fund!

:17:
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Freightmaster1 said:
Bart said:
Why don't you throw a few #"s at us getting on that site is a little hard
Received my confirmation and still won't let me on.[/Q

Are the "Administrative Expenses" Too High At The Central States Pension Fund?

According to the latest 5500 Report to the IRS, Central States paid out $901,215 in "Professional Fees", $33,741,381 in "other", and $44,344,901 in "Investment Advisory and Management Fees", for a total of $78,987,497 in "Administrative Expenses"!

These firms were listed as being paid compensation for "Investment Services"...

The Northern Trust Co of CT-$5,062,220
LSV Asset Management-$3,745,888
William Blair & Co LLC-$2,485,287
The Bank Of New York Mellon-$2,297,674
Wellington Management Co LLP-$2,196,458
Pzena Investment Management-$2,148,742
Cramer Rosenthal McGlynn, LLC-$1,975,698
Institutional Capital LLC-$1,767,596
Oaktree Capital Management, LP-$1,608,071
Pacific Investment Management Co-$1,459,470
Genesis Asset Managers-$1,397,780
Cohen & Steers Capital Management-$1,258,005
TCW Asset Management Co-$1,160,232
W R Huff Asset Management Co, LLC-$1,157,482
Westfield Capital Management Co-$1,153,030
State Street Global Advisors-$1,113,286
Columbus Circle Investors-$1,067,062
BNYM Cash Investment Strategies-$1,060,836
Turner Investments-$1,044,552
Triology Global Advisors, LP-$975,970
Causeway Capital Management, LLC-$962,101
Ballie Gifford Overseas LTD-$935,921
Stone Harbor Investment Services-$928,581
Donald Smith & Co Inc.-$886,317
Jennison Associates LLC-$764,449
Denver Investments-$761,390
Thornburg Investment Management Inc-$697,086
Artio Global Management LLC-$632,387
Tradewinds Global Investors, LLC-$569,120
Riverbridge Partners-$541,620
Cardinal Capital Management-$515,867
Delaware Investment Advisers-$469,401
Mellon Capital Management Corp-$397,517
UBS Global Asset Management (Americas)-$395,345

I think it's high time that Hoffa and his cronies at the IBT call for a full investigation into how our pension contributions are being spent at the Central States Pension Fund!

:17:
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It seems as though major "kickbacks" via investment firms and banks are the norm here.

Borderline criminal!!!

If all current retirees and/or current employees of this fund, were to picket each and every one of these "trustees" personal residences, I bet fund conditions would change very quickly.

Google these names. Locate their homes. Notice how poorly they live!
Extravagant, is a word I use for the wealthy.

Charles A. Whobrey
Jerry Younger
George J. Westley
Marvin Kropp Arthur H. Bunte, Jr.
Arthur H. Bunte, Jr.
Gary F. Caldwell
Ronald Destefano
Greg R. May
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Bart said:
Thanks Freightmaster for the info!
CSPF was looked into by the IBT before but the info is not available to us TOP SECRET for crooks eyes only!
Teamsters Retain Consultants to Review Central States Pension Fund -- re> WASHINGTON, Nov. 12 /PRNewswire/ --
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Here's the quote I like....
General Secretary-Treasurer Keegel said: "While we cannot tell the federal
government, the trustees, or the Fund's named fiduciaries what to do, we owe
it to our members to fully assess what the real story is."
Says General President Hoffa, "The Teamsters Union will do everything
possible to get to the bottom of the issues at Central States and provide a
frank and clear view of the situation to our members. The IBT will then be in
a better position to consider all appropriate action to preserve the
retirement security of our members and their families."

That press release was from November 11, 2002.l Here it is over 11 1/2 years later and were still waiting for answers? Come on!
 
Freightmaster1 said:
Here's the quote I like....
General Secretary-Treasurer Keegel said: "While we cannot tell the federal
government, the trustees, or the Fund's named fiduciaries what to do, we owe
it to our members to fully assess what the real story is."
Says General President Hoffa, "The Teamsters Union will do everything
possible to get to the bottom of the issues at Central States and provide a
frank and clear view of the situation to our members. The IBT will then be in
a better position to consider all appropriate action to preserve the
retirement security of our members and their families."

That press release was from November 11, 2002.l Here it is over 11 1/2 years later and were still waiting for answers? Come on!
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They have been too busy organizing all the non-union ltl companies. Gee, cut them some slack will ya? :hide:
 
#3 on the Trustee list.

"Our Brother's Keeper?" A fine job indeed! Thank You Trustee Mr. Westley.
http://www.gotnbc.com/LouisianaFishFry.pdf

We are not one big happy family???
The fund spent 78 million on investment firms and is trying to collect $200k? The time & energy wasted in court, is worth more!
13-3506 - Musson Brothers, Inc. v. Central States, Southeast And Southwest Areas Health And Welfare Fund et al

Talk about getting the giant screwing!
http://docs.justia.com/cases/federal/district-courts/ohio/ohndce/5:2012cv01816/191361/31
 
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mud said:
And me, a die hard University of Michigan football fan since the early seventies!!!!

Let's Go Blue!!!
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Just down the road from me , a family put steel siding on their home blue with a gold roof and shutters. It really does not look as bad as it sounds, but he is a die hard also. MY wife gets the ugly face on when ever we pass his home. She is a die hard OSU fan, I mean big time, I can not evan talk during the game. Damm I love it. OH! by the way,sorry about your luck the last few years with your team. :LMAO:
 
ESP said:
Just down the road from me , a family put steel siding on their home blue with a gold roof and shutters. It really does not look as bad as it sounds, but he is a die hard also. MY wife gets the ugly face on when ever we pass his home. She is a die hard OSU fan, I mean big time, I can not evan talk during the game. Damm I love it. OH! by the way,sorry about your luck the last few years with your team. :LMAO:
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If the Wolverines can't beat OSU, there's always the Spartans.
 
mud said:
If the Wolverines can't beat OSU, there's always the Spartans.
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If the crooks steal all the money there's always welfare!

If you don't like peanuts make peanut butter!

Life is like a box of chocolates !

The short bus runs an hour later!

For $53 a month can I :fingure: ya!

Damn this is fun!
 
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