ABF | Opposition mounting to Teamsters deal to cut pensions at ABF Freight

Just like UPS. It’s the ones retired before 2008 and the ones that come after. Right or wrong?
SAC, contrary to what you believe. The 6.1 billion dollar withdraw penalty UPS paid to leave CSPF was not spent first. It is still there providing 488 million dollars every year in investment earnings for UPS retirees. Those before 1 JAN 2008 and those after. You might not realize this SAC, if CSPF was a small MEPF it would have been partitioned. The reason it was not partitioned was PBGC would have been bankrupted by its orphans.
 
SAC, contrary to what you believe. The 6.1 billion dollar withdraw penalty UPS paid to leave CSPF was not spent first. It is still there providing 488 million dollars every year in investment earnings for UPS retirees. Those before 1 JAN 2008 and those after. You might not realize this SAC, if CSPF was a small MEPF it would have been partitioned. The reason it was not partitioned was PBGC would have been bankrupted by its orphans.
https://amp.cnn.com/money/2015/10/27/retirement/ups-pension-cuts-central-states/index.html
The Central States Pension Fund used to administer pension benefits to a group of unionized UPS drivers, but the company left the fund in 2008 as a way to save money and provide retirees with better benefits. It set up its own pension fund, but only took current workers with it. Any UPS drivers who had already retired would still be covered solely by the Central States fund.

Weird huh?
 
https://amp.cnn.com/money/2015/10/27/retirement/ups-pension-cuts-central-states/index.html
The Central States Pension Fund used to administer pension benefits to a group of unionized UPS drivers, but the company left the fund in 2008 as a way to save money and provide retirees with better benefits. It set up its own pension fund, but only took current workers with it. Any UPS drivers who had already retired would still be covered solely by the Central States fund.

Weird huh?
Perhaps SAC you did not noticed, CSPF's MPRA application was denied, it seems UPS was not happy with cuts to its pre and post 1 JAN 2008 employees. We must brush up on our reading comprehension skills.
 
Canary, common sense tells CSPF TEAMSTERS, that you are just concerned about getting a bailout for your mega pension. We all know CANARY that some teamsters are more equal than other teamsters.

"animal farm" excellent book, excellent animated movie. it pretty much some's up comrade CANARY's labor philosophy.

Well, young man,.....You seem to consistently try to make this all about me. That's a shame,....because apparently, you're not reading all of my posts , and only picking out what you want to read.....

Any sort of pension de-funding,......even to healthy funds,....is a future "hand-grenade" waiting to go off....."10%" of Teamsters now....25% a few years from now,....65% a few years beyond that.......

The bulk of Deregulation bankruptcies happened between 1982 and 2000,...when there were only 7 Teamster LTL companies left, out of roughly 1000 or so....The remaining companies in MEPFs didn't seem to have a problem with "orphans" then,......most "orphans" were gladly assimilated into the remaining companies, bringing their experience and professionalism with them,....thereby saving companies millions in establishing training programs for new-hires, like so many other trades have.......

No complaints from the companies about "orphans" then...........

It's only after the financial collapse of the banking industry in 2008 do you,.......out of the blue,....hear companies complaining about "orphans", and liability withdrawal........Why wasn't it a problem 10 years previous, when a Union carrier went bankrupt every week?

It seems to me that the companies smell "blood in the water",........and have a chance at putting the final nail in the coffin of defined-benefit funds,.........all the while deflecting the blame from themselves ,.......for DE-FUNDING MEPFs, ala' : YRC,....and now ABF,..........by accusing "greedy orphan Teamsters" of causing the MEPF problems.......

Knowing this ..."problem"....was growing over the last decade or so,.....why didn't member companies in MEPFs use their "bully pulpit" and lobby legislators for a "fix" 10 years ago? Why didn't the Teamsters?

It seems that everyone's consensus is to walk away from the problem,...and let it die a slow death,....(...coincidentially, along with thousands of elderly retired Teamsters and their beneficiaries...)....

It seems that once MEPFs are forced into insolvency,.....then companies can come out with a jolly new plan, to "aid" your retirement,.........that,....of course,.....will increase the companies' profits, and decrease their liability to former employees........

Do you agree that MEPFs should....die a slow death?
 
SAC, contrary to what you believe. The 6.1 billion dollar withdraw penalty UPS paid to leave CSPF was not spent first. It is still there providing 488 million dollars every year in investment earnings for UPS retirees.
Are you sure about this statement of yours?

Oops...

Early that year, UPS withdrew 70,000 of its current workers, but not its retirees, from Central States. At that time UPS paid a $6.1 billion withdrawal penalty to guarantee the pensions of its retirees.

But the fund was heavily invested in stocks. Because of the financial crash later that year, the fund’s total assets declined from $27 billion to less than $20 billion, Vermillion said. All of the lump sum UPS put in — and more — was lost in the crash.


A federal law from 1974, the Employee Retirement Income Security Act, is supposed to protect retirees such as Dowdy, Crews, Epperly and Vermillion from the kind of cuts they’re now facing. But in December 2014, Congress fundamentally changed that.

It happened as Republicans and Democrats hurried to resolve a government shutdown. In the middle of the night, Epperly said, Congress agreed to insert language into the budget bill it passed. That language is known as the Multiemployer Pension Reform Act of 2014.

http://www.roanoke.com/news/casey-s...cle_6d4170b4-f30a-5e62-9f10-e622dd408e63.html
 
Perhaps SAC you did not noticed, CSPF's MPRA application was denied, it seems UPS was not happy with cuts to its pre and post 1 JAN 2008 employees. We must brush up on our reading comprehension skills.
Pretty sure you do. Where in my article I posted did it say that? That’s why there was a question mark behind right or wrong? Practice what you preach.

P.S.
looks like docker found it! Hmmm
 
Seems to me the funds are already dying a slow death. Nobody can stop it

Ahh,....but are they trying to stop it?..........Or is it more "convenient",....economically,......to let it die?

More important,.......is it Morally Ethical to see those funds die,.....considering the age and health of the people involved?
 
Seems to me the funds are already dying a slow death. Nobody can stop it

Aren't you supposed to be working on that list of ArcBest's competitors backing up this statement of yours? You should be concentrating on that full time since you are only able to post one or two lines at a time. I see that you already listed one yesterday... YRC... so at this pace you should have that list done in a couple of months or so... so let's get to it... shall we?

compared to the competition, the package deal is 100% above par from the rest
 
Pretty sure you do. Where in my article I posted did it say that? That’s why there was a question mark behind right or wrong? Practice what you preach.

P.S.
looks like docker found it! Hmmm
A reasonable person would not read that article and think that all of UPS's withdraw penalty was lost. SAC you would do the T.B's a great service if you contacted CSPF to enquire how the investments purchased with UPS's withdraw penalty are doing. As you know SAC the stock market sky rocked during the cheap money, QE3 printed money years of Obama, not to mention the promise of a corporate tax cut with TRUMP. I'm sure CSPF will tell you UPS's 6.1 billion dollars is still there still providing 488 million dollars a year in investment income to it's pre and post 1 JAN 2008 retirees. It does not become you SAC to grasp at what ever feeble proof docker throws out there. dockers post educate no one, he is a bitter old man, who wishes he actually was the good union man he pretends to be.
 
SAC, contrary to what you believe. The 6.1 billion dollar withdraw penalty UPS paid to leave CSPF was not spent first. It is still there providing 488 million dollars every year in investment earnings for UPS retirees. Those before 1 JAN 2008 and those after. You might not realize this SAC, if CSPF was a small MEPF it would have been partitioned. The reason it was not partitioned was PBGC would have been bankrupted by its orphans.
Again you are wrong. The UPS money was lost in a matter of a few months once it was received. Just look at the money. Do you know how to check the money movement in CSPF?

You keep talking but you seem to know nothing except truck stop bullshit. Tell me how much did CSPF go up or down last year.

How many companies are in CSPF?

What is the weekly contribution rate these days.

How many tiers are there in CSPF?

Just a few questions to see if you know anything about the fund.

And what form can you send off for if you are a member of CSPF that explains all the finances of the fund?

YOUR WAITING FOR THE PENSION LESSON BROTHER ALWAYS!
 
It does not become you SAC to grasp at what ever feeble proof docker throws out there. dockers post educate no one, he is a bitter old man, who wishes he actually was the good union man he pretends to be.

You know something there gump... I'm trying hard to keep playing with the kiddie gloves on seeing how sensitive so many members are on here... but in your case... hell with it... I'm going to start attacking the hell out of you because I will never abandon my belief which is attacking the poster as well as the post because of my belief... a person's character reflects on his credibility... and your character deserves heavy criticism and condemnation.

Like I said before... you are a childish idiot... proven liar...paranoid schizophrenic... Teamster hater... and a sadist. Now tell me... just which one of those do you need me to prove? And here you are... claiming that I never educate any one.

You aren't fooling anyone... you here for one reason and one reason only... to antagonize Teamsters... so by all means... be a man and don't be afraid to hold back... and let's get to it... that is unless you are also spineless?
 
At
Seems to me the funds are already dying a slow death. Nobody can stop it
At least you did say seems. Give me the facts. I see you always post anything union in a bad light. So tell me how much is in the CSPF as of today. How many people are collecting a pension today. You do know that when they say how much they will be paying out in the future they are guessing how many will iive to collect and how long they will live.

You do know it is mostly based on an economist opinion. And as we all know opinions are like you know what.
 
Oops is right docker, for UPS's withdraw penalty to vanished. For every companies stock purchased, that company would have to go bankrupt. For every bond purchased, they would have to be defaulted on. Docker, perhaps JEFF should allow me to use your other screen name. only someone like you and SAC would take literally the articles statement "all of UPS's lump sum was lost".

docker, UPS's withdraw penalty is not for paying monthly pension checks. Therefor its investments were not sold during the market lows. It is still in CSPF, still providing 488 million dollars "at 8% per CSPF,investment returns" in investment income for pre and post 1 JAN 2008 retirees.
 
Oops is right docker, for UPS's withdraw penalty to vanished. For every companies stock purchased, that company would have to go bankrupt. For every bond purchased, they would have to be defaulted on. Docker, perhaps JEFF should allow me to use your other screen name. only someone like you and SAC would take literally the articles statement "all of UPS's lump sum was lost".

docker, UPS's withdraw penalty is not for paying monthly pension checks. Therefor its investments were not sold during the market lows. It is still in CSPF, still providing 488 million dollars "at 8% per CSPF,investment returns" in investment income for pre and post 1 JAN 2008 retirees.
Wrong. You need to stop before people see just how clueless you are about the fund. What form would I look at to see where that money is? I know do you?
 
docker, UPS's withdraw penalty is not for paying monthly pension checks. Therefor its investments were not sold during the market lows. It is still in CSPF, still providing 488 million dollars "at 8% per CSPF,investment returns" in investment income for pre and post 1 JAN 2008 retirees.

Do you expect everyone to just take the word of a proven liar just because you keep on saying it? Tell me... where's your proof to back up those flapping gums of yours? That's right... you never do come up with proof... do you? But you sure can say that you can't wait to see the CSPF go belly up... can't you? How's that for you showing your true character... a worthless POS?

Tell me... just why do you refuse to take your BS to the get it off your chest thread? Because you're spineless and you just want to trash all of our threads... that's why. And bravo to you for succeeding so far... but not for long.
 
Oops is right docker, for UPS's withdraw penalty to vanished. For every companies stock purchased, that company would have to go bankrupt. For every bond purchased, they would have to be defaulted on. Docker, perhaps JEFF should allow me to use your other screen name. only someone like you and SAC would take literally the articles statement "all of UPS's lump sum was lost".

docker, UPS's withdraw penalty is not for paying monthly pension checks. Therefor its investments were not sold during the market lows. It is still in CSPF, still providing 488 million dollars "at 8% per CSPF,investment returns" in investment income for pre and post 1 JAN 2008 retirees.

You're damn right oops is right! I'm still waiting for you to prove all that BS you have been shoveling... how about getting to it instead of just flapping your gums?
 
Do you expect everyone to just take the word of a proven liar just because you keep on saying it? Tell me... where's your proof to back up those flapping gums of yours? That's right... you never do come up with proof... do you? But you sure can say that you can't wait to see the CSPF go belly up... can't you? How's that for you showing your true character... a worthless POS?

Tell me... just why do you refuse to take your BS to the get it off your chest thread? Because you're spineless and you just want to trash all of our threads... that's why. And bravo to you for succeeding so far... but not for long.
docker you and Muler seem to be getting quite emotional, it seems you called me a worthless POS, and gave me a vague threat of physical violence."...but not for long" docker I must remind you T.B.'s is being watched, everything you post is part of the record. It could be used against you in the courts. please docker control yourself. I'm afraid for you docker, perhaps you should take PAPPA JOHNS lead, and quit posting.
 
docker you and Muler seem to be getting quite emotional, it seems you called me a worthless POS, and gave me a vague threat of physical violence."...but not for long" docker I must remind you T.B.'s is being watched, everything you post is part of the record. It could be used against you in the courts. please docker control yourself. I'm afraid for you docker, perhaps you should take PAPPA JOHNS lead, and quit posting.

You are a worthless POS... I already established that... unless you need me to prove that once again... do you?

What... now you're crying about a vague threat of physical violence... just how desperate are you becoming in your attempts of my removal? You feel physically threatened... just how much of a wuss are you? What's the matter gump... you can dish it out but like so many others... can't take it. My advice to you then would be to take your own advice... and just quit posting.
 
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