Feedback Needed on Vote for Pension Cuts

Discussion in 'Central States Pension Fund Discussion' started by UTR906, Apr 7, 2016.

  1. UTR906

    UTR906 "There Is No Armor Against Fate"

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    I have been out of the "loop" for a long time. I need to get a feel from your guys who are in the front lines and are members of pension groups. My question is: Will be get 200,000 people to vote "NO" in June? Will 200,000 people even bother to vote? I along with a lot of you have a lot of tough choices to make. A lot is hinging on whether the cuts go in place in July or September/October. Any feedback would greatly be appreciated.
     
  2. wolf

    wolf Well-Known Member

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    I can tell you how this retiree will vote...No. It should not up to me to shore up the PBGC for the rest of the country.
     
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  3. UTR906

    UTR906 "There Is No Armor Against Fate"

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    Thanks for your opinion. We have approximately 400,000 people eligible to vote. 205,000 +/- retirees. A 100% vote from the retirees would get it delayed about 90 days. Will all retirees send back their ballots? That's the big unknown.
     
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  4. wolf

    wolf Well-Known Member

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    I have not been impressed with our vote participation on anything over the last decade that I paid any attention to such things.
     
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  5. freight jockey

    freight jockey Active Member

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    This retiree is a solid 'NO' vote. Anybody that buys into Central States' BS is dreaming, this will not be the last cut if passed and ultimately the fund will be taken over by PBGC.

    Stand your ground and vote the d**m proposal down, it needs to be restructured and cuts made across the board evenly, in CS own words the average cut is 23%. The whole issue needs to be investigated and redone after the fall election. Remember, we are still paying millions per year for PBGC insurance that is worthless. The government can't have it both ways, require us to buy the insurance and then not cover us. CS needs to go after the investment firms in court for the losses also, many other funds have and they received huge settlements. I realize a bailout is out of the question but there are many other options that need to be looked at so everybody is treated fairly, wether they are retired or active on non-active fund participant.

    We are doomed if it does go to vote with the present voting rules, historically in any Teamster vote you are lucky to get 28-30% participation. A non-vote counts as a 'YES' vote in the convoluted world of MPRA and it's authors.
     
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  6. freight jockey

    freight jockey Active Member

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    Thanks for all the pension related posting you have done UTR906 to keep us informed.

    I do have a question, why would 2-3 months make much difference on making a choice ?
     
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  7. UTR906

    UTR906 "There Is No Armor Against Fate"

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    For me personally, I got to start in motion events that will have to be done. Also, if it is voted down, then from the date of certification of the vote
    they will have 90 days to override the no vote. This would put the first month for the cuts in October. Also they can recalculate the cuts, possibly cutting us further.The notification you got about your new pension amount is good for a July 1 date. Of course, if you are being cut to 110% that is low as it can go....for now. I am being cut 50% based on a July 1 start date.
     
  8. ESP

    ESP Well-Known Member

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    I am urging everyone to vote no. I will not vote myself a cut. I want the pension fund to cut it for me as an override. As I see this whole thing as a plan to cover up their stupid investing scams. If you vote yes and they get their way then cuts go thru and then when they see they are still loosing money because they will do business as usual, they will have your authority to cut more. Besides leaving the fox in charge of the henhouse is not my style of protection. KEEP THIS IN MIND THE TEAMSTERS ARE NOT DOING THIS TO YOU, CENTRAL STATES AND THE CONGRESS DID THIS TO YOU.
     
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  9. freight jockey

    freight jockey Active Member

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    :6788: :1036316054::1036316054:

    KEEP THIS IN MIND THE TEAMSTERS ARE NOT DOING THIS TO YOU, CENTRAL STATES AND THE CONGRESS DID THIS TO YOU.




    Thank You ESP ! That is the bottom line and the raw truth in language anybody can understand.
     
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  10. jimmy g

    jimmy g Kook

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    Wanna bet?
     
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  11. ESP

    ESP Well-Known Member

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    YES they can, it is in the law. the 161 pages of legal speak of which they are following to the letter as you will hear Ken Feinburg tell us on May 7th. Read and weep, The multiemployer pension reform act of 2014, Bill HR 83. or Seach The Omnibus spending bill House Resolution 83 included an amendment house Resolution 776 to remove ERISA, the pension Protection act, which has been law for over 40 years, which prevented reducing current retiree's benefits. Get a six pack to sit down with, 161 pages of pure joy, brought to you by Central States and Congressman Miller and Kline. Then your wonderful congress passed it to the President of the United States of America. Whats his name?
     
  12. codebreaker

    codebreaker Active Member

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    I will definitely be voting NO on this issue. PLEASE, when it comes time to vote for your senators and congressmen, remember how they voted us into this situation. Voting them out of office will be only satisfaction that I can validate for their vote on the multi-employer pension cuts
     
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