Yellow | Central States Pension Fund: Update

[R-14Driver]

September 17, 2010: The Central States Pension Fund had $18 billion in assets as of June 30, 2010, according to their quarterly Financial and Analytical Report.

This is down from $19.5 billion at the beginning of the year.

The loss is due to two factors: the poor stock market performance in the second quarter, and the temporary withdrawal of YRCW, the fund’s largest employer.

The fund lost 6.8 percent on its investments in the second quarter. The Central States Fund is more heavily invested in stock (67 percent of assets) than most other pension funds.

As reported by Teamsters for a Democratic Union last quarter, Goldman Sachs resigned as asset manager, effective August 2. The fund transferred the assets formerly managed by Goldman Sachs to Northern Trust, and some of it to passive investment (index funds). ..............

Central States Pension Fund: Update | Teamsters for a Democratic Union

 

[turboj]

Don't forget, a Hundred Million dollars of this shortfall can be attributed to Electraglide's massive retirement!!!

 

[bigtruk_us]

why central states all the time.lets talk about the western conference pension.they have tons of money

 

[jimmy g]

why central states all the time.lets talk about the western conference pension.they have tons of money

because my retirement rests in the going broke Central States (of course)!!!!! What about the rumors going aroud about 'lump-sum payouts', instead of pensions????? Any word on it, or just more BS?

 

[Jay C]

because my retirement rests in the going broke Central States (of course)!!!!! What about the rumors going aroud about 'lump-sum payouts', instead of pensions????? Any word on it, or just more BS?

just the opposite in NE fund..lump fund was eliminated

 

[jimmy g]

just the opposite in NE fund..lump fund was eliminated

I'd much rather have the pension; but I'd take the pay-out in a heartbeat because it meant I was getting SOMEthing......

 

[Jay C]

I'd much rather have the pension; but I'd take the pay-out in a heartbeat because it meant I was getting SOMEthing......

at that point you're probably safe for awhile

but the vig on that lump-sum is huge like 10% off every month

that could be as much as a $400-$450 deduction every month for the rest of your life

 

[stpinindy]

at that point you're probably safe for awhile

but the vig on that lump-sum is huge like 10% off every month

that could be as much as a $400-$450 deduction every month for the rest of your life

What? Every year the fund loses money and NONE of that money is going to me!! So your point is don't worry that others will collect from this fund for years before I collect a penny after working for nearly 2 decades to pay into the fund????

 

[jlb]

c s p

ah the working mans retirement fund / pension / this is what it is all about . the question is if you are a vested member with years of service. what will you do"""""""""""""""""""""""""""""""""

 

[billyzollars]

Bend over.