Currently, it would be illegal to disperse the fund. Congress has a lot worse problems than us.
Dissolve and disperse central states pension fund now !
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The other issue about receiving a lump sum on a dispersement.
Is getting whacked with taxes,I don't know what other states do for something like this?
However if my state of New York deems a lump sum as a bonus,or a gift.
I'd get whacked with a 60% gift tax,along with whatever the feds cut would be.
So I just want to keep getting payments,even with the 31% cut coming next July,it would be better off for me then getting a piece of the pie.
Is getting whacked with taxes,I don't know what other states do for something like this?
However if my state of New York deems a lump sum as a bonus,or a gift.
I'd get whacked with a 60% gift tax,along with whatever the feds cut would be.
So I just want to keep getting payments,even with the 31% cut coming next July,it would be better off for me then getting a piece of the pie.
skullcramp
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Don't forget our incoming administration is going to eliminate the PBGC.
I could be wrong, I have been before. However the PBGC is nothing more than an independent insurance company who happens to specialize in retirement insurance. The Government will not have a say in weather the company will stay solvent or not. Unless they decide to bail them out, which is not likely. PBGC is funded by the premium's they collect from all the retirement funds in the country that want to be insured.
I got nothing
TB Lurker
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Last thing I heard a few years ago was the PBGC was millions in the hole. Not sure its status at this time.
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TB Lurker
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I agree God is in control. But you still need to take action. If you sit in a room and never walk to the mail box to get your check, then never go to the bank to cash it, then never buy food, then never eat......get the point.... We all have free will, we all need to do what's right, problem is we all only see what's right for us as individuals.
But the politicians have no problem sending billions of freshly printed money all over the world, to help out whoever.
This is why Donald Trump was elected president, for the time being.
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Was saying , that these retired guys that have been collecting full pension for the past 10 to 25 years , needs to be cut so when us guys still working retire we maybe have something left to collect too !!
I've only been collecting a partial pension for seven years, does this mean I will get more??
I don't think anyone should lose what was promised and what was earned through hard work covering decades......but the idea of taking a very significant part of a retirees pension just so, maybe....just maybe, a person still working will get "something" isn't a very good idea..... There is no guarantee that after deeply cutting current retirees is going to guarantee future retirees anything....
It's wrong to cut pensions of those that have already put in the time and the sacrifices to qualify for them.... Instead of allowing those with power to pit the working against the retired is just playing into their hands.....and who ends up losing??.... Yeah, you guessed it....the still working AND the retired.... We should be working together....not against one another.....
Ok ,all sounds good , BUT CSPF & Hoffa is doing NOTHING right now to try & save it or come up with a plan to save it ? So What is the answer so the guys still working will get something too ???
axlethedriver
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i like my 40 year pension that i earned. you republicans will get what you deserve if trump cuts the cord. now it is up to you republicans to pull this out of your asses and get our pensions back. get those letters out. stand in washington as a lot of teamsters have done to this point and continue the fight that a lot of good teamsters have won for you in phase one. get those horses in gear. NOW!!!!!
and quit crying.
and quit crying.
Easy to say as a guy that either is getting or can. I've still got 25 years tell I'm 66. So I should work and get nothing in the end? We are supposed to be brothers but the retirees seem to think their time is worth more than already working guys? I get it. It's not fair either way. But this has been known sense 2000
By the way, a democrat has been president for the past 8 years. Obama also was the one who signed the Omibus bill that let this happen so quit with that crap. The Democrat presidents have also signed almost all of these free trade agreements including NAFTA CAFTA an agreement with China. Jimmy Carter signed a deal with Japan that got rid of most of our electronic trade and Obama is pushing TPP. So who is selling the working class out? They both are the same thing! Democrates have been riding the illusion of being for the working class but have done nothing but ram us in the butt.
axlethedriver
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yes sac75 i c your point. but the kline ( Rep) bill pushed through at the end of the session is giving everyone fits. kline is pushing for more as he retires and draws his government pension and bennies soon. believe me there is no easy solution to all this except for funding and lots of it. i say it is up to all of us to get our fair share no matter how long a person works or has put in. do some research on some of the locals that have other retirement plans with a big payout upon retirement and now those guys took the money and ran and now they have nothing. its just amazing how many guys with a lot of time left a lot of freight companies in search of a more secure future. if you have a lot of years to put in think about moving on. and if you plan on staying join the fight for your future depends on it.
ok be safe
axle
ok be safe
axle
I have been in the fight. It is sickening how most of our representatives just like to pass the buck and just ignore the problem. Most of my representatives have been in power for as many years as I have been working. Term limits is all I have to say. Thanks for your response. Good luck to you also.
Banned for Life
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Dear Axel, there is no phase 2, so far all MPRA applications have been turned down. The next step is PBGC take over, $35.75 X 30 years, max payout $1,072.50 a month. The next fight is bailing out PBGC so at least retirees get $1072.50 as opposed to nothing!!! You might not have noticed yet it was the working man that voted in Trump. Most working men don't get a pension!!! Expect your cries for a pension bailout to fall on deaf ears.