Dissolve and disperse central states pension fund now !

Discussion in 'Central States Pension Fund Discussion' started by I got nothing, May 31, 2016.

Do you want what's yours from Central States ?

  1. Yes

    38 vote(s)
    84.4%
  2. No

    7 vote(s)
    15.6%
  1. I got nothing

    I got nothing Member

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    WHY SHOULD WE USE OUR PENSION DOLLARS TO KEEP THE PEOPLE THAT ARE PARTIALLY AT FAULT FOR ITS FAILURE IN JOBS UNTIL ALL THE MONEY IS GONE ? Divide the remaining funds now. Everyone would get their percentage for years worked. The Feds can let us roll it over into the teamster 401k tax free. Any future contributions will go there.
    Any money in your hand is yours, what will happen next...........
    CONTACT ALL YOUR FEDERAL GOVERNMENT OFFICIALS AND DEMAND THIS SCAM IS SHUT DOWN NOW !
     
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  2. SuperCourse

    SuperCourse WHO IS JOHN GALT?

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    Absolutely the best solution.
     
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  3. deadbeat

    deadbeat Member

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    17 billion divided by 400,000 equals 42,500 . I would have to pass on that. I'd rather draw my pension for 10 more years.
     
  4. SuperCourse

    SuperCourse WHO IS JOHN GALT?

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    That isn't how the math would work. Age, years of service, and many other considerations would have to play into it. Some might receive more like $250,000 while others, young with minimal years might only get 10 or $15,000.
     
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  5. I got nothing

    I got nothing Member

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    Union: members sticking together for the good of all
    Retirees want to ride it to the end not giving a crap about those who are still contributing for nothing in the end.
    This is what they want, to keep us fighting each other so we won't concentrate our efforts on them.
    Remember their "projection" gives you 10 years....are they going to cut that guess to 5 years?
    Those of us that have been in this a while know the fund can't be trusted.
    What does it cost to keep the fund going?
    Then what will you do when there is nothing left, if you take it now at lest you can invest what you get and hold your own money.
     
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  6. I got nothing

    I got nothing Member

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    At this point 100 0/0 voted YES to dissolve and disperse
     
  7. bigtruk_us

    bigtruk_us Well-Known Member

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    That is such an asinine thought to want to just cash out the pension funds so that YOU can get yours or whatever that mindset is.First of all the pensioners are not at fault.So why in God's green earth would you want to throw up the white flag and give those that were and are now responsible an out because of their ill gotten ways? An internal audit needs to be done forensic if you will.There are other viable solutions to this issue.we shall explore and sometime before the pension runs out (administrators speak) we shall find and implement the correct measure.This fund is far from being over.I think the solution will be within the PBGC agency's scope.Not what you think in being paid pennies on the dollar.I think a deal will be reached in the near future
     
  8. bigtruk_us

    bigtruk_us Well-Known Member

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    SO QUIT YOUR CRYING FOR NOW!!!!
     
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  9. SAC75

    SAC75 Well-Known Member

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    I'm glad you have faith in our government because I don't. There isn't one thing that they've ever touched that they haven't ruined. After the PBGC Takes over ABF & YRC only has liability for ten years. Who pays for it then?
     
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  10. wolf

    wolf Well-Known Member

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    So at what point does the PBGC actually take over? I thought it to be when the fund is officially broke, projected to be 10 years from now.
     
  11. I got nothing

    I got nothing Member

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    Not crying just trying to start a realistic conversation on all of our futures.
    Getting mad at me is a good start, but I am not the one who is crying.
    I hope you are correct that this will all work out in the end, but isn't $1000 per month pennies on the dollar when some retirees are collecting $3-$3500 per month?
    Just remember, the only person you can trust to hold your cash is you.
     
  12. I got nothing

    I got nothing Member

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    Letter from Paul Ryan about CSPF, info I didn't know,

    Dear,


    Thank you for contacting me about multiemployer pensions, H.R. 2844, and H.R. 4029. I appreciate you taking the time to let me know your views on these important issues.

    As you may know, Representative Marcy Kaptur introduced H.R. 2844, the Keep Our Pension Promises Act on June 19, 2015. This bill would repeal a provision of the Multiemployer Pension Reform Act of 2014 that allows pension fund trustees to reduce certain pension benefits when attempting to provide relief to distressed multiemployer pension funds. It would also amend the Employee Retirement Income Security Act of 1974 (ERISA) by establishing a legacy fund that would use $30 billion in taxpayer funding to provide relief to distressed multiemployer plans. On June 19, 2015, H.R. 2844 was referred to the House Committee on Education and Workforce, the House Committee on the Judiciary, and the House Committee on Ways and Means. This bill is currently pending in these committees.

    You also mentioned H.R. 4029, the Pension Accountability Act. As you may know, Representative Dave Joyce introduced H.R. 4029 on November 17, 2015. This bill would amend ERISA and the Internal Revenue Code of 1986 to change the rules for voting to suspend benefits under multiemployer pension plans in endangered or critical status. Specifically, this bill would provide that, when a plan has been deemed to be in an endangered or critical status, a benefit suspension would automatically go into effect unless a majority of the plan participants and beneficiaries who cast a vote on the issue vote to reject a suspension. This bill would also prevent the Department of the Treasury from overriding such a vote to reject a suspension. On November 17, 2015, this bill was referred to the House Committee on Education and the Workforce, and the House Committee on Ways and Means. It is currently pending in these committees.

    Thank you again for contacting me about these important issues. Please know that I am aware of your concerns, and will keep them in mind as I continue to follow this issue and these pieces of legislation closely. Your thoughts and recommendations will be especially helpful as I work with my colleagues on the important issues facing the 114th Congress.

    In the meantime, if you wish to share additional information with me concerning these issues, please feel free to contact me by calling, emailing, writing, or faxing me. Please be advised that mail sent to my Washington office is subject to an additional two-week delay due to increased mail security.

    If I can be of further assistance to you regarding this or any other matter, please do not hesitate to contact me. I am always happy to respond and be of service to you.



    Sincerely,
    [​IMG]
    Paul D. Ryan
    Serving Wisconsin's 1st District
     
  13. SAC75

    SAC75 Well-Known Member

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    http://m.pbgc.gov/
    They can and have to take over when the fund cannot pay what is owed. It's in the fact sheet in this link. Its as clear as mud.
     
    Last edited: Jun 2, 2016
    wolf likes this.
  14. wongway

    wongway -15% Pay & Broke Pension Fund

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    Agree time to shut it down and divide up whats left !!!! Why should these guys that have been collecting $ 200 to $300-K dollars keep getting full pension when the younger guys will get nothing !!!
     
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  15. Max

    Max New Member

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    I'll take my full pension check till it runs out. No cuts period.
     
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  16. wongway

    wongway -15% Pay & Broke Pension Fund

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    Hell yeah , lets run it broke and screw the jr. guys now working to help keep it alive a few more years , its the union way ,screw the jr. guys !! just like at work now ,sr. guys take all dock stops and leave hand stops for jr guys , sweet !!!!
     
  17. yrc-atm

    yrc-atm commodities relocator

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    Yeah and :censored: the guys who are paying in right now and will receive nothing when they retire.
     
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  18. yrc-atm

    yrc-atm commodities relocator

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    Huh??
     
  19. Max

    Max New Member

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    I've earned it so shut the shell up.
     
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  20. yrc-atm

    yrc-atm commodities relocator

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    So did I.
     

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