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Yellow | Central States Pension Crisis! Trustees Where Are You?!

Freightmaster1

Freightmaster1

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Brothers and sisters we're down to the 11th hour on the UPS attempt to destroy the Central States Pension Fund! Jim H. and Ken H. say it is a good deal, UPS execs say it is a good deal, and the analysts say it is a good deal....but what about our pension fund trustees? What about our UNION TRUSTEES?! Where is Fred G., Chuck W., Jerry Y., and George W.?! Where is the Executive Director of Central States, Tom N.?! Why the "dead silence" from the Fund?!

Freight members like me want to hear from our trustees what is going on with the fund! Not that we don't trust our IBT officials, or the UPS execs, but when push comes to shove in the next 5 to 10 years, and another "perfect storm" comes along and kills the stock market and the fund suffers again big time, we want to make sure that UPS kicked enough into the fund to protect ALL the active and retired participants of the Central States Pension Fund!

The media and the analysts sometimes like to make us think that Central States only consists of ABF, Roadway, USF Holland, Yellow, and UPS! In reality the Central States Pension Fund covers Teamster employees at approximately 2400 employers! Yes there are Central States participants in Airline, Bakery & Laundry, Brewery & Soft Drink, Building Materials & Construction Trade, Carhaul, Dairy, Food Processing, Freight, Graphic Communications, Industrial Trades, Motion Picture & Theatrical, Newspaper, Magazine & Electronic Media, Parcel & Small Package, Port, Public Services, Rail, Solid Waste, Tankhaul, Trade Show & Convention Center, and Warehouse! 2400 EMPLOYERS WHO PROVIDE THEIR 143,631 ACTIVE AND 212,021 RETIRED EMPLOYEES WITH PENSIONS THROUGH THE CENTRAL STATES PENSION FUND!

I WANT TO HEAR FROM OUR TRUSTEES THAT MULTI-EMPLOYER PENSION PLANS ARE A GOOD THING AND THAT IT IS NOT IN THE BEST INTERESTS OF THE 355,652 PARTICIPANTS AND THEIR 2400 EMPLOYERS TO LET OUR BIGGEST AND STRONGEST EMPLOYER TO PULL OUT OF OUR PENSION FUND AND PUT THE REMAINING ACTIVE AND RETIRED MEMBERS LEFT IN THE FUND AT RISK!

Let's keep the heat on Central States to give us the real story! Let's draw the line in the sand with our pension fund, and let ALL the employers who would like to destroy it know that we WILL NOT LET IT HAPPEN!

IT'S NOT JUST ABOUT THE PARCEL & SMALL PACKAGE DIVISION VS. THE FREIGHT DIVISION...IT'S ABOUT ALL 20 TEAMSTER DIVISIONS VS. OUR GREEDY EMPLOYERS!

/////STAY UNITED AND FIGHT THE POWER////:USA:
 
Very well put, FM1...
Hopefully, the parcel members will be able to see past the current "advantages", being advertised to sell this plan, and have the fortitude to think long term for the sake of their future and ours...
 
I think the union in the freight industry will be something of the past. In addition, I think the Teamsters are looking at other fields of employment to explore.
 
Stan Smith said:
I think the union in the freight industry will be something of the past. In addition, I think the Teamsters are looking at other fields of employment to explore.
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I've been hearing that since 1981 when I started in this industry.
I also heard that the world would come to a screeching halt January 1 2000 as the computer networks around the world crashed and chaos would follow.
 
Teamster251 said:
I've been hearing that since 1981 when I started in this industry.
.
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It's likely you've been hearing that since 1981 because the numbers prove it's happening. How many unionized carriers were there in 1981? Hundreds, at least. How many now? Less than 10, I'd guess. I remember when there was a HUGE difference in rate of pay per hour between being a Teamster and being a non-union LTL driver. Now, take out the benefits and there isn't that big a difference. How many new companies have we brought on board to pick up the ones fallen by the wayside? Nowhere near enough to cover the pension if there's another amss exodous. That's why UPS wants out-- it's the smart thing for them to do.

I've heard forever we'll have our pension, and social security. It wouldn't surprise me to never be able to collect either...........
 
The bottom line is every teamster official in the country has a central states pension, the 6 billion will take it out of the red zone. With no more early 25 and 30 and out- at any age pensions they figure the fed will leave them alone.(do you think the first ups freight barn contract being in cspf wasn't planned ?)
 
100 billion in liabilities and only 50 billion in assets. Think the boat will still be floating. Look for the Trustee's hiding in the lifeboats.
 
Where are the trustees?! Normally outspoken Fred G. must have fell off the edge of the earth! Where's the Exec. Director Tom N?! Looks like he flew the coop too! Could it be that they cannot stomach putting their stamp of approval on this bogus deal by Jim H. and Ken H?! How about a "press release" from the Central States Pension Fund?!
 
I personally don't like the UPS withdrawl.

I'd persoanlly vote NO

UPS's SEPF will be subject to SocSec deductions when you retire.

Your pension now in the CSPF will be frozen and will not grow in the coming years. You will receive a frozen rate when you retire. That rate being frozen come Ded 26th.
WI'd rather collect one 40 yr pension then two small 20 year pensions.
One being frozen at a rate that is 20 yrs old.
The other being subjected to a SocSec decduction when you start collecting that.

Something to think about Central State UPSers when you vote. Make sure these things I've mentioned are covered before you vote, get alllt the info, the right info.

T251
 
I agree 251. Hope these guys realize how much they are going to lose when they start taking out the SS difference. GM does the same thing. I like my SS check on top of my pension check. I earned them both and I want them both.
 
freightmaster1 have you put any effort into asking these questions to the people that can answer them?

I agree with all your questions but posting them here will not get any answers.
They do make for a good thread and discussion.
 
hillbilly frog said:
freightmaster1 have you put any effort into asking these questions to the people that can answer them?

I agree with all your questions but posting them here will not get any answers.
They do make for a good thread and discussion.
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I have asked my local officials, I have tried to call the Fund, but no cooperation so far! I've been told to trust Jim H, and Ken H, and go along, come along. We freight members know better! UPS members need to fight like we have over the last 43 years to keep what we got! I post these questions/thoughts here for other to be informed and to take action on their own too! We need to keep the heat on the Central States Pension Fund Director Tom N., and the Central States Trustees to give us the answers we need to make informed decisions on the BILLIONS of dollars at stake in the UPS and Freight Contracts! Thanks for your feedback Brother!
 
It's a done deal I'm afraid,every ups freight barn most probably (definatly) will be in this pension plan too.Our multi emp. plans are not in UPS's future.
 
Still waiting for that "press release" from the Central States Funds Director Tom N.! How about some info from our "indirectly elected" union trustees? Come on Central States! Is this UPS pullout of 42,000 employees kicking in $258.00 a week into the pension a good deal for the fund or not?! I don't think so, but where do you (the fund director and trustees) stand?! WHERE ARE YOU PEOPLE?! HELLO....HELLO....CAN YOU HEAR ME NOW?!
 
I was wondering who would be in control of the money if this deal goes through? Would it be set up like a sweet heart contract where the employees get their pension through the CO. or would the money be in put in a separate fund. And what type of options will the employees have for their retirement accounts. It seems like one really big crap shoot to me. I'm not to thrilled abvout the prospect of essentially having to gamble with my retirement. It doesn't affect me directly yet since I work for Yellow, but I can see if this does go through at Ups and ABF is succesful in forceably removing theirt employees from Central States ,the writting will be on the wall for the rest of us in the industry. I"m not really thrilled about the prospect of possibly having my retirement gambled away on empty promises.
 
Ok is a vote for accepting the New UPS Contract a vote for pulling out of the CSPF? If so do all the people not in CSPF that vote for the New UPS contract also vote for all the people in the CSPF to pull out, even though they are not part of the CSPF?
 
the way it looks in freight right now if you don't have 20 year or better you never see your pension as for ups they do every it contract it win/win for them if they get out of it it's the partimers that kills them everyday they work it go in the fund just thing about it that a lot of $$$$$$ that most of them will never see that what kills them
 
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