I agree. You nailed it.
ABF | DO THE MATH!
- Thread starter Muler
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Thank you.
Its the only way to explain the numbers for the guys close to retirement. I have to agree
Cubbie bear
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My question is are the teamster officials who retired with those huge pensions also being cut.
Muler is correct I believe in his calculations. I read and calculate similar.. And for those that say strike? why? what has ABF done wrong? Also all my years, my fellow workers have said keep the plan, keep paying in for the old timers and prior guys,, We have to keep this plan, etc.. This is the tone where I am.. Now its a bombshell? not sure I understand.. but strike? Hoffa? this is a cluster but who to blame? A fix a long time ago, yes..
There is a simple breakdown chart that shows you exactly how muck you lose for each year you retire early. I had to retire at 56 but couldn't draw till I was 57 of course (2013). I was penalized 54% for going at 57. Went from $2300 a month minus $1242 equaled $1158. Then they just got me again this week on the new cuts, but for much less. I was afraid I was going to be mailing them a check at this rate.
The guys saying all the big cuts are either orphans, or plan on retiring before the retirement age. We are all being cut some. Depends on orphan and what age you will or when you did retire
Not good at all the way they are penalizing people for retiring early. I see why they are doing that but I want those big wigs held responsible for the mismanagement of the funds
If any one of us was as unaccountable for "BILLIONS" in cash like the Union officials that took the 6 Billion from UPS, we would never see the light of day again.
I was personally forced to retire, 5 spine surgeries, 6-steel rods holds the base of my spine up, with 2-metal plates in the upper spine. Worked for 9 years like that till I literally couldn't pull up in the tractor and trailor. 4 days after retirement, colon ruptured, emergency surgery and 2 more saved my life. Not looking for sympathy, God has richly blessed me and my wife. Just want to show how early retirement isn't being spent on the beach and golfing.
That's why so many abfers are pissed about the givebacks yrc keeps voting YES to. Now everyone will pay for it, it may get worse if something don't change before 2019....
abf is paying 100%.... yrc25% why should abf strike? Should they pay 175%/
YRC is part of the problem, the figure I have heard is 2.8 billion, I don't know it that is accurate. But there is a lot more of a problem than just YRC, like I said on another board, if they can make six billion disappear from the UPS withdrawal they could have made two point eight from YRC disappear in no time at all.
Hoffa must go along with the $100,000 club! Everyone is making sacrifices except them....
They've been under a government mandate since 1978, Wall Street handles CSPF investments. Yep the Wolves on Wall Street handle our pension funds exclusively. In 2008 our caretakers Goldman Sachs' and Northern Trust cost the Fund 8.8 billion dollars. We also paid them exorbitant fees for handling our investing. They get bailed out, we lose our pensions. Governments fingerprints all over this pension crisis. We are the only fund in America that I can find that has 100% of its assets handled by Wall Street by government mandate.
layoffsucks
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IF we strike anyone, it should be central states... company had nothing to do with it. gimme my contribution rate and put it in a 401k or a roth or something that I can control.