N.Y. Teamsters pension cuts

Discussion in 'YRC Freight' started by Keepingon, Sep 6, 2017.

  1. Keepingon

    Keepingon Well-Known Member

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  2. Keepingon

    Keepingon Well-Known Member

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    https://dailygazette.com/article/2017/09/04/teamsters-near-decision-point-on-big-pension-cuts

    "
    Two things may skew the vote: Every ballot not returned is counted as a “yes” under federal law, and even if the “no” votes somehow win out, the U.S. Treasury Department can override the referendum and allow the cuts to take effect anyway.

    “What I’m hearing is there’s going to be a lot of people voting no,” said Tom Baum, who was appointed the representative of retirees as the struggling pension fund sought a way out of its problems. However, he didn’t know if all those “no” votes would make a difference. “The way the system is set up under the MPRA law, it’s kind of rigged.”
     
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  3. vongrimmenstein

    vongrimmenstein Well-Known Member

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    If this vote is approved, regardless by who, voters or the Government, is there any language that states they CAN NOT come back say 2 years later & demand more cuts from their checks. To me this is critical. The trustees & the Feds should not be allowed to keep coming back until you have nothing left, provided you live that long. What is to prevent them from bleeding the fund dry with excessive fees to manage it? I believe the laws on pensions will change in the next 2 years or earlier, & nobody from the retirees or the ones working looking for their golden parachute are gonna like it. von.
     
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  4. wongway

    wongway -15% Pay & Broke Pension Fund

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    Quote from the Good Old Days , when we were union proud & full pay & full pension ![​IMG]
     
  5. mysticobra

    mysticobra Just here.

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    Its a different world now.
    As we all know it's ever changing and nothing stays the same.
    Unions are dinasours.
    They do what they want without our input.
    It's clearly going on now as I speak with our union and company.
    We are less than two years out from contract. A big contract. And nothing is being said or done that we know about but downsizing.
    And if the votes are manipulated as said. This is the only part that won't change.
    We are in a rut and that's where they want us. And that's where they will keep us.
    Even if you vote no.
    I'll get out soon. I'll take the cuts if I leave early. It's worth it to me not to have this in my life anymore. Staying only shortens your life. Leaving. Well. You may live longer.
    It's not worth it anymore. The company has been run into the ground. Non's are the future. And good luck to them once the unions are gone out of the ltl.
    It won't be pretty. It isn't now.
    My early morning dose of so called wisdom. (my wife would say otherwise. But being here in the ltl world gives you some insight. Not much but some)
    I need more coffee and some food.
    Tgif and I took it off!
    :1036316054:
     
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