ABF | My "Fellow Employees" How do you compare?

The days of the multi employee pension funds are numbered. UPS has already struck the major blow, even with them over compensating to the tune of 6.1 B, that leaves the fund about 13B under funded. YRC is now the biggest fish in the pond whether anyone likes it or not. We need to push for them to give us better retirement vechiles and some onsite financial training. The multi-employee funds are just too high if a company misses just one year on the pay in.
 
what happens to the retirees benefits who have retired in the Central States pension fund?

They were offered so much per month for the 30 years of their lives they had invested in their companies.

If all the LTL trucking companies pull out of that fund.

then will the Teamsters union still honor these retirees,and keep paying them their monthly benefits?

I feel this is a very sad state that the Central States has come to be underfunded.

I hope this doesn't happen in NY state where I live.
I'm going to start drawing my Teamster pension this coming April.
I was told I'd get an amount per month for the 20.2 years of credit I have.
I really hope I can count on that for my retirement.
 
even with them over compensating to the tune of 6.1 B, that leaves the fund about 13B under funded.

please state your source on this amount [20 billion underfunded] i simply do not belive it
 
Let's not go to the teamster retirement again....hash, hash and rehash.....this is about our fearless leader and his golden coated platinum parachute
 
I hope this doesn't happen in NY state where I live.
I'm going to start drawing my Teamster pension this coming April.
I was told I'd get an amount per month for the 20.2 years of credit I have.
I really hope I can count on that for my retirement.

The last I heard the NY State funds were in great shape. I would bet that you will collect everything that you are entitled to
 
I heard he had a room with a swimming pool that was full of gold coins and that's where he spends his free time?
 
the western teamsters fund has enough money. why is the central so underfunded while in the west we have enough and it sounds like the east has enough.
 
As I have it, Central States got caught in some bad investments, Enron, Worldcomm and the like. Then 2001 stock market problem. All included caused a recession in the fund. I know I lost a crapload myself, in 2001.
 
we also lost a lot in our 401's 2001 but we road it out aand have now recouped all and then some of our money so why haven't they. I also know several people who lost alot to enron but they have been able to regroup.
 
:Off-Topic: lets get back to the subject of the thread......lets take this to the buffalo bobs squaretable thread:smilie_132:
 
to get back on topic, it's obscene that such a greedy um, guy would make so much then constantly complain about how we enjoy the benefits that we have. Scrooge mcduck just comes to mind. I picture this greedy f, um fellow employee sitting in his den at home each night checking his stock options and making sure his savings account has been properly credited with his latest interest payment. And he just wants more, more, more and sees our benifits as a way to cut into expenses. With the sole objective being that it will increase profits and his bonus will then be bigger. Corporate greed if ever I saw it. He would like us to go down to non union levels, rather than them coming up to ours. Greed. Just like mr scrooge.
 
Can you say nine billion dollars!!!

Thats what the W. C. is worth. & its FEDERALLY insured! Our money aint goin nowhere but ^. The C. C. is underfunded for 1 reason- the lack of interest of employees of non-union co.'s in joining the union. Think we got problems? People working in these states are REALLY getting screwed by there employers.
 
I don't know about you all, but I made $3.2 mil this year.

At least that was until I woke up from my dream, and found out my Unemployment check bounced...!
 
TTMan - your mailbox is full! tried sending you a msg. Were you aware? Apparently can't send until you clean house. Don't mean to be nosy, but had a question for you.
 
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