Pension reform

Discussion in 'ABF Freight System' started by Cmannhd70, Nov 10, 2017.

  1. Cmannhd70

    Cmannhd70 New Member

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    holland68, 6PakAbs and ABFer like this.
  2. canaryinthemine

    canaryinthemine Retirement....The Job I Was Born To Have!

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    Yes,.....and other funds....(like mine...)....too
     
  3. ABFer

    ABFer Well-Known Member

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    That is a nice start. Next let's see it be a viable plan for the long term, not just a can kick down the road.
     
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  4. canaryinthemine

    canaryinthemine Retirement....The Job I Was Born To Have!

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    This Bill,.....which my former Local Union President was working on,....and had gone to the CSPF Trustee's meeting to explain,...should limit defined-funds from filing a rehabilitation plan to no more than 20% of a reduction in benefits, while insuring long-term viability of "Red Zone" plans beyond 30 - 40 years. Ken Hall supposedly supports this plan. Jim Hoffa does not.

    Now if it wasn't for Klein-Miller,...us retirees could continue to get what we earned. No politician talking about repealing that. .

    Brown-Ryan Bill should be enough to keep distressed plans afloat without having to be forced into PBGI........which, itself, is distressed.

    We can bail out fat, lazy Wall Street bankers who cheated people out of their homes,.........but we can't bail out working people's pension funds,....even though their failures were a direct result of those......filthy .....Wall Street bankers playing fast'n'loose with the rules,......and other people's money......
     
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  5. ABFer

    ABFer Well-Known Member

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    Yep!!
     
    canaryinthemine likes this.
  6. Seamus20

    Seamus20 Active Member

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    Has little to no shot of passing thru this congress
     
  7. ABFer

    ABFer Well-Known Member

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    Any attention to the problem at all is progress. It is hard to believe how they paid bonuses to Wall Street bankers with our tax money and are just letting us wither on the vine the way they are, it's just not right.
     
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  8. Seamus20

    Seamus20 Active Member

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    I agree any attention to the public of the crisis is helpful. However there has been several multi employer pension reform bills these past years dying on the floor without even being able to get enough support for them to be debated let alone brought to a vote. They bailout wall street etc bease that is where their campaign fund raise comes from. The Klein-Miller act was a disgrace to take away earned money from retirees. They don't care about the working men & women they care about donors
     
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  9. highheadblues

    highheadblues Well-Known Member

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    No chance this will pass with a Republican Congress and president under any circumstance. Just think how great a day it will be when Fox News can talk all day about the largest union pension fund goes broke and that’s why unions are really bad and obsolete.
     
  10. ABFer

    ABFer Well-Known Member

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    I am not optimistic that any congress will pass it but getting recognition is a start for some sort of help.
     
  11. highheadblues

    highheadblues Well-Known Member

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    I’m not sure if you really understand what I was trying to say. Not only are republicans not interested in helping save central states, but will be actively rooting for its failure
     
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  12. SAC75

    SAC75 Well-Known Member

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    The democrats had two years to get action done and did nothing. The omnibus bill was signed in December of 2014 by President Obama. Pretty sure he was a Democrat. No congressman wants anything to do with helping normal joes out. They are more interested into figuring out how to steal more of our money. Neither side wants to help. If they did they sure don’t show it.
     
  13. highheadblues

    highheadblues Well-Known Member

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    President obama was dealing with a Republican Congress in 2014 that didn’t even want to fund the government, he had no chance of any kind of pension bailout. Dems have introduced pension relief bills but they can’t even get out of comitee. Republicans have complete control of government right now, where’s their bill?
     
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  14. SAC75

    SAC75 Well-Known Member

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    Obama signed the bill with the so called “pension protection plan” in it. There was absolutely no excuse for letting that bill through. We could fight about how democrats would vote all these bills in all day long. There is a reason they were voted out of power in the first place. It’s not because they were doing things for the people’s good.
     
  15. DCM_Doc

    DCM_Doc Well-Known Member

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    Obama had several years of a Democrat controlled House & Senate & did nothing. Republicans are no worse than Democrats. Both give lip service to helping the working class but little or nothing is done.
     
  16. highheadblues

    highheadblues Well-Known Member

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    When demz were in control from 08 -10 cspf was flush with the cash ups had just paid to get out of cspf. Little over 6 billion I believe. While I agree that labor is not first on the demz list of priorities, they are sympathetic to our cause. Having said that labor is on top of the republicans list of things to attack. Funny how you never hear about right to work when these guys campaign, but is always the first thing on their agenda when they win a governors race, followed closely by “pension reform “ for state employees.
     
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  17. ABFer

    ABFer Well-Known Member

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    I don't think any of them were flush with cash after the crash in '08.
     
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  18. SAC75

    SAC75 Well-Known Member

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    That really help CSPF didn’t it? We would have made way more than 6 billion if they wasn’t let out.
    https://teamster.org/divisions/package
    The Division serves more than 250,000 members throughout the United States who work at UPS and UPS Freight. UPS is the single largest employer in the Teamsters Union. ..

    Lets say UPS paid what ABF does in CSPF 375 per week per employee. Just guessing at 75000 people in CSPF at the time, that would be 1,465,000,000 billion a year. That’s $14,465,000,000 by 2018 not including compound interest. Thanks democrats!!!

    UPS got a sweetheart deal and bought political favors to get out so cheap! Smh!

    And again your Democrats ( Obama) signed the Omnibus bill in 2014 that included the pension protection act which let all these pension reforms start to begin with. Keep forgetting that huh?

    Another democrat signed in deregulation which helped us teamsters out so much also. Thank you democrats!
    https://en.m.wikipedia.org/wiki/Motor_Carrier_Act_of_1980

    Increasing public interest in deregulation led to a series of federal laws beginning in 1976 with the Railroad Revitalization and Regulatory Reform Act. The deregulation of the trucking industry began with the Motor Carrier Act of 1980, which was signed into law by President Carter on July 1, 1980.

    My point is neither party is looking out for the little guy. When we figure out they “both parties” are our enemies we can work to correct this crap. Term limits. Campaign regulations Ect.
     
    Last edited: Nov 21, 2017
  19. Trucker 206

    Trucker 206 Well-Known Member

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    Signed in 1980, but the process was started in 1970. Who was president then? Good post though, SAC. Very informative...thank you.
     

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