More Feinberg Decision/Treasury/Central States Pension Stories

Discussion in 'Central States Pension Fund Discussion' started by Freightmaster1, May 7, 2016.

  1. Freightmaster1

    Freightmaster1 Well-Known Member

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    Treasury rejects plan to cut pension benefits for some retirees


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    Treasury rejects plan to cut pension benefits for some r...
    The proposal by the Central States Pension Fund was the first test of a 2014 law that allowed troubled pension plans to cut benefits for retirees.
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    Federal officials reject proposed Central States pension cut...


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    Federal officials reject proposed Central States pension...
    A plan to cut retirement pensions for thousands of Teamsters truck drivers has been denied by the U.S. Treasury Department. The plan proposed by officials of the Ce...
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    and
    U.S. Rejects Pension Fund’s Proposal to Slash Teamster Benefits | Trucks.com


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    U.S. Rejects Pension Fund’s Proposal to Slash Teamster B...
    The Treasury Department rejected a plan by the Central States Pension Fund to slash the benefits of more than 200,000 truck driver retirees.
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    Teamster retirees welcome pension decision


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    Teamster retirees welcome pension decision
    More work ahead for retiree committees.
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    Treasury rejects fund’s plan to cut Teamster retiree benefits


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    Treasury rejects fund’s plan to cut Teamster retiree ben...
    The Treasury Department on Friday rejected a proposal by a pension fund to cut the payout for hundreds of thousands of truck drivers, construction workers and other...
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    Retirees bracing for pension cuts


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    Retirees bracing for pension cuts
    Hundreds of thousands of retirees bracing for 50 percent cuts to their pension will be spared -- at least for a while longer.
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    Treasury rejects Central States plan to cut pensions; victory for truck labor – DC Velocity


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    Treasury rejects Central States plan to cut pensions; vi...
    Feinberg's decision preserves benefits for thousands of trucking employees, takes UPS off multibillion dollar hook for filling shortfall.
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  2. Freightmaster1

    Freightmaster1 Well-Known Member

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    And even more....

    Treasury Department Rejects Central States Pension Fund Plan to Cut Teamsters Benefits | Transport Topics Online


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    Treasury Department Rejects Central States Pension Fund ...
    The U.S. Treasury Department, through Special Master Kenneth Feinberg, has rejected Central States Pension Fund’s proposal to cut benefits for 270,000 Teamsters ...
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    30,000 Michigan Teamsters avoid pension cuts


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    30,000 Michigan Teamsters avoid pension cuts
    The U.S. Treasury Department rejected a Teamsters Central State Pension Plan proposal that would have started in July.
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    Teamster Pensions Safe, For Now


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    Teamster Pensions Safe, For Now
    There's good news for thousands of retired members of the Teamsters Union. The Treasury Department has denied a request from the Central States
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    Treasury rejects Central States' proposed pension cuts


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    Treasury rejects Central States' proposed pension cuts
    Area lawmakers on Friday afternoon praised the Treasury Department's decision to reject an application by the Central States Pension Fund to cut benefits from retir...
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    Feds reject plan to slash Teamsters pension benefits


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    Feds reject plan to slash Teamsters pension benefits
    The decision blocks the pending pension cuts, but the pension plan remains severely underfunded and is projected to become insolvent soon.
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    Treasury rejects plan to cut Teamsters' pensions


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    Treasury rejects plan to cut Teamsters' pensions
    The Treasury Department rejected a plan Friday that would have slashed pensions promised to more than 200,000 Teamsters.
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    Federal officials reject cuts in Teamster pensions


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    Federal officials reject cuts in Teamster pensions
    Local retired truckers faced huge cuts
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    Mediator rejects plan that would have cut Teamsters benefits


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    Mediator rejects plan that would have cut Teamsters bene...
    U.S. federal mediator Kenneth Feinberg rejected the Central States Pension Fund’s rescue plan that would have cut benefits formore than 250,000 working and retir...
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    Treasury Department Preserves Teamsters' Pensions - 15,000 in Wisconsin


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    Treasury Department Preserves Teamsters' Pensions - 15,0...
    Update: On Friday, The U.S. Treasury Department notched a victory for more than 200,000 retired Teamsters across the country, who had been promised a
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    Pension cuts rejected by U.S. Treasury Department


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    Pension cuts rejected by U.S. Treasury Department
    The U.S. Treasury Department has rejected a plan that would have cut pension benefits for more than 272,000 people nationwide, including more than 1,000 in Sout...
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  3. Freightmaster1

    Freightmaster1 Well-Known Member

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    and finally....
    Treasury rejects plan to cut benefits for some Teamster retirees


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    Treasury rejects plan to cut benefits for some Teamster ...
    Local retirees with the Central States Pension Fund were worried about deep pension cuts
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    U.S. Treasury Secretary rejects planned pension cuts for Quad City workers


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    U.S. Treasury Secretary rejects planned pension cuts for...
    The U.S. Treasury Department Friday rejected a plan to cut benefits from their retirement plan, but it doesn’t fix the larger problem.
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  4. jimmy g

    jimmy g Kook

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    So how it this actually a victory? It now runs out sooner, in years it leaving people zero, instead of half.

    If CSPF tries again, the cuts they will request next time will be BIGGER.
     
  5. Apostolic

    Apostolic Super Moderator Staff Member

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    How about instead of a slow death of the pension.
    Just slice the pot up,& cut us a last check to bank it,invest it,or blow it anyway we want.
     
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  6. jimmy g

    jimmy g Kook

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    Laws forbid it, for now.
     
  7. Dracula

    Dracula Well-Known Member

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    Central States and so many other pension funds need a cash infusion to avoid getting thrown into PBGC. There are only 2 ways to obtain the needed capitol and that is either public or private funding.
    You can forget public funding, it ain't gonna happen. People will look at the success of the Western Conference of Teamsters Pension Trust and ask, if they could be so successful why couldn't you? That's a hard argument to overcome. That leaves private financing. If I understand correctly, union dues are 2 hours wages per month. Cut the union dues to 1 hour per month and the other hour goes to Central States. Let's see just how committed Hoffa and his cronies are to saving Central States. You already know the answer to that question. Hoffa will be screaming bloody murder but how many corporate jets does union management need? I don't know how much money Central needs in order to survive, but right now the pressing issue is to tread water not swim to shore.
     
    Last edited: May 9, 2016
  8. ESP

    ESP Well-Known Member

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    Mr. Nyhan says the magic number is 11 billion dollars. So they need to find the 6 billion UPS gave them and the 2 bill lost in stock market last year and they will be getting close, maybe just maybe the drop in the bucket cost of their raises and half of their paychecks will be forthcoming. :1sm364jumpbed::lmao::biglaugh::hysterical::hilarious: Good Lord, that is funny. :poster oops::stirthepot:
     
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  9. Dracula

    Dracula Well-Known Member

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    I think that Central did ask Western States for a little love and Western's reply was :fingure:
     
  10. jimmy g

    jimmy g Kook

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    Yep. South and Southeast merged. Its all Teamsters. I'm actually surprised Treasuury doesn't Force a merger...
     
  11. deadeyetwo

    deadeyetwo Member

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