Labor, pension managers square off over benefits

Discussion in 'Central States Pension Fund Discussion' started by Freightmaster1, Oct 23, 2015.

  1. Freightmaster1

    Freightmaster1 Well-Known Member

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  2. Keepingon

    Keepingon Well-Known Member

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    But James Hoffa, general president of the Teamsters, argues that the Treasury plan amounts to “pulling the rug out from under” hundreds of thousands of retirees.

    “Pension fund participants and beneficiaries did not cause the problem of underfunding,” Hoffa wrote in a letter to Central States. “They worked day in and day out to earn their pension credits. It is monstrously unfair that they will end up holding the short end of the stick.

    “Simply to wipe out those earned benefits in order to balance the books is tantamount to highway robbery,” he added.

    If he feels this way why don't he do something about the smaller funds that are controlled by the local officers who are making moves to cut our pensions. Or as he says committing highway robbery! He blames the officers at Central States and claims his hands are clean that they are independent, There are plenty of small funds that are doing the same thing who are not Independant! They are controlled by the local officers at least he referred to his own as theifs
     

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