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Multi-employer Pension Reform Is Key For Gop To Keep Senate

axlethedriver said:
don't let this demy republican thing tear us apart. it is a teamster thing and we need to unite to get this thing through. you will all be old some day and will need every dollar to get by. take the time to write and call your reps. i am not committed and will not support any person that takes money from me.
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Whom is trying to take money from you? Kline-Miller MPRA, purpose is to preserve pension fund assets. So it can generate income to pay pensions for perpetuity. NUCPP thwarted MPRA. CSPF goes bankrupt in 2025. PBGC goes bankrupt shortly after that. Retirees get pennies on the dollar. Contributing employers still have to pay pension benefits for twenty years into a bankrupt CSPF. That has been ERISA pension law for decades. I guess it wasn't to bright to fight KLINE-MILLER MPRA.

Call your congressman. Tell them to pass "GRASSLEY-ALEXANDER" the reasonable MEPF bailout bill.
 
mud said:
The six billion dollars UPS paid to withdraw from the CSPF disappeared years ago.
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UPS should have never been allowed to leave the fund and Yellow should not have been allowed to buy Roadway and Holland! Imagine if UPS, Yellow, Roadway and Holland were still paying full pension contributions?
 
Jaloc said:
UPS should have never been allowed to leave the fund and Yellow should not have been allowed to buy Roadway and Holland! Imagine if UPS, Yellow, Roadway and Holland were still paying full pension contributions?
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Would not matter, still way to many retirees versus active workers. Pay outs should have never been increased to levels they were during declining enrollment. Each person’s should have had contributions put in for them ,not as a whole for a group. We would all be better off.
 
Jaloc said:
They should be unhappy about their fellow teamsters getting screwed out of their pensions.
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Every active employee in a declining MEPF is getting screwed out of their pension contributions. When CSPF goes bankrupt in 2025, ABF, YRCW and every other contributing employer, still has to pay into it for twenty years. DO YOU THINK EMPLOYEE RETENTION WILL BE AN ISSUE THEN? Strange that you think you are entitled to any portion of an UPS employees pay check!
 
Bubba Gump said:
Every active employee in a declining MEPF is getting screwed out of their pension contributions. When CSPF goes bankrupt in 2025, ABF, YRCW and every other contributing employer, still has to pay into it for twenty years. DO YOU THINK EMPLOYEE RETENTION WILL BE AN ISSUE THEN? Strange that you think you are entitled to any portion of an UPS employees pay check!
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Oh I want a portion of UPS employees paycheck wow cut me a check now! UPS was in the same MEPF until Hoffa let them leave with only paying around 7yrs of pension payments the deal of a lifetime now the rest of the teamsters in the fund get screwed while they gambled and lost the money UPS paid in the stock market.
 
Jaloc said:
Oh I want a portion of UPS employees paycheck wow cut me a check now! UPS was in the same MEPF until Hoffa let them leave with only paying around 7yrs of pension payments the deal of a lifetime now the rest of the teamsters in the fund get screwed while they gambled and lost the money UPS paid in the stock market.
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Lay off the cool aid, it's affecting your thought processes.
 
jimmy g said:
While I agree, it was required by the IRS. They ruled pensions either had to increase pensions or cut contributions.
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The IRS made us do it really doesn't fly anymore. Teamster pension funds have never been fully funded. They could have used a lower discount rate. They could have raised the pensions just enough, instead of massive increases.
 
Jaloc said:
Oh I want a portion of UPS employees paycheck wow cut me a check now! UPS was in the same MEPF until Hoffa let them leave with only paying around 7yrs of pension payments the deal of a lifetime now the rest of the teamsters in the fund get screwed while they gambled and lost the money UPS paid in the stock market.
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ERISA law determines withdraw liability payment amount. Why didn't every contributing employer take the same sweet deal UPS got?
 
Does anyone know if any of the many many bankrupt companies paid its withdrawal money into the pension funds? Correct me if I'm wrong but didn't the bankruptcy courts consider unfunded pension obligations to be unsecured debts? I wonder if we would be in this situation if the law had required even a portion of those pension moneys to be paid out of the company's assets? Then we might not even have the so called pension orphans.
 
Crystal said:
Does anyone know if any of the many many bankrupt companies paid its withdrawal money into the pension funds? Correct me if I'm wrong but didn't the bankruptcy courts consider unfunded pension obligations to be unsecured debts? I wonder if we would be in this situation if the law had required even a portion of those pension moneys to be paid out of the company's assets? Then we might not even have the so called pension orphans.
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Some of the companies paid their unfunded liabilities early on. These are companies that I saw on a list of orphans. there are three or four levels of orphans.
 
816cliff said:
Some of the companies paid their unfunded liabilities early on. These are companies that I saw on a list of orphans. there are three or four levels of orphans.
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This is good to know, wonder if I should find my level before I file my tax return again
 
Jaloc said:
You must be on acid then
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Crystal said:
Does anyone know if any of the many many bankrupt companies paid its withdrawal money into the pension funds? Correct me if I'm wrong but didn't the bankruptcy courts consider unfunded pension obligations to be unsecured debts? I wonder if we would be in this situation if the law had required even a portion of those pension moneys to be paid out of the company's assets? Then we might not even have the so called pension orphans.
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816cliff said:
Some of the companies paid their unfunded liabilities early on. These are companies that I saw on a list of orphans. there are three or four levels of orphans.
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seabreeze said:
This is good to know, wonder if I should find my level before I file my tax return again
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2025 everyone's an orphan, everyone's equal. The DEMOCRATS will be pleased!
 
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