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The Central States Pension Fund’s Financial and Analytical Report for 2010 reveals that the fund is in just about the same shape as a year ago, with assets of $19.9 billion.
This is slightly higher, by about $300 million, than a year ago, thanks to the big run-up in the stock market. Central States made 14.4 percent on its investments in 2010, with a whopping 71 percent of assets in stocks.
The $2.5 billion made on investments more than offsets a $2.2 billion loss on operations. The big loss on operations results from a very low base of employer contributions, just $628 million in 2010. This weak position of employer contributions comes from the disastrous decision to allow UPS, by far the biggest employer, to exit the fund in January 2008. It also results from the fact that YRCW, the next biggest employer, is not contributing to the fund at this time...................
Central States Ends 2010 with $19.9 Billion | Teamsters for a Democratic Union
This is slightly higher, by about $300 million, than a year ago, thanks to the big run-up in the stock market. Central States made 14.4 percent on its investments in 2010, with a whopping 71 percent of assets in stocks.
The $2.5 billion made on investments more than offsets a $2.2 billion loss on operations. The big loss on operations results from a very low base of employer contributions, just $628 million in 2010. This weak position of employer contributions comes from the disastrous decision to allow UPS, by far the biggest employer, to exit the fund in January 2008. It also results from the fact that YRCW, the next biggest employer, is not contributing to the fund at this time...................
Central States Ends 2010 with $19.9 Billion | Teamsters for a Democratic Union