Yellow | Pension What is This

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thank you in advance
 
Yup , saw that up at work too , so what are they trying to do , change pension over to a 401-K ???
 
C'mon guys.... this is an annual request for review in order to meet standards set forth for qualification. Nothing more, nothing less.
C'mon guys.... this is an annual request for review in order to meet standards set forth for qualification. Nothing more, nothing less.
Maybe they want to move the 401 to the Caymans and have Elwood "manage" them for Prudential???
 
Maybe they want to move the 401 to the Caymans and have Elwood "manage" them for Prudential???

You just keep piling more and more work on my plate. I am flattered that you are confident in my abilities, but there is only so much time in a day!

However, I am willing to share my personal investment plan with those who request it.
 
You just keep piling more and more work on my plate. I am flattered that you are confident in my abilities, but there is only so much time in a day!

However, I am willing to share my personal investment plan with those who request it.
Come on Elwood, you would not be interested in letting us send you cash to invest for us? I know you would do just as well as some other fund. MAYBE. At least when invest with you I know I am investing for the blues, right?
 
Come on Elwood, you would not be interested in letting us send you cash to invest for us? I know you would do just as well as some other fund. MAYBE. At least when invest with you I know I am investing for the blues, right?

We all know, money corrupts, especially those who play with OPM.

 
Hopefully you are aware of the Teamsters 401K plan and taking advantage of it.
Yes , i am aware of the 401-K plan and been in it from Day 1 , cause I saw the way the pension was going and yes you need a back up plan in life , but it's kinda sad , that some driver's are now 65 to 70 yrs old and still working cause they were depending 100% on the pension and no money saved up over the years !!!! kinda like the gov. S.S. that is going broke too !!! I would recommend that driver's start there own 401-K retirement savings , it's never to late to start !! and this is ONLY my opinion , and you are entitled to your opinion on this subject too .
 
Yes , i am aware of the 401-K plan and been in it from Day 1 , cause I saw the way the pension was going and yes you need a back up plan in life , but it's kinda sad , that some driver's are now 65 to 70 yrs old and still working cause they were depending 100% on the pension and no money saved up over the years !!!! kinda like the gov. S.S. that is going broke too !!! I would recommend that driver's start there own 401-K retirement savings , it's never to late to start !! and this is ONLY my opinion , and you are entitled to your opinion on this subject too .
I, 100% agree with you wongway, ( did I say that? ). Well you are right, but yes start saving. I do suggest for everyone to figure your cut at just 30%. Start right now and put the 30 percent away, now see if you can live on what is left. You have about 8 months left before the cuts take place. That's my guess three months to work out the legal kinks, then a six month notice then the hammer drops. Now is the time to make the changes and maybe find a job if you need to. If you make 2500 pension, your cut is 1500 then raise to 110% of pbgc. you will get 1175. After taxes you were getting about 2306, now you will get about 1058 take home. your loss or need to make up is about 1248. Not going to be easy, nobody cares and the cuts can change up or down. But now is the time to take a trial run. The math will change per person and also depending on if you are a low down Orphan or not :biglaugh:That is not really funny, I may or may not be one. I have been calling a lot of retired teamsters and believe it or not, many do not know of what I am trying to tell them. I even put a piece in the local paper and got dozens of calls telling me I was dead wrong. So be it I tried to warn them. DO NOT WAIT, PLAN NOW. The cuts are coming and we cannot change them. Plan for the worst, hope for the best. :woohoo1:Its just me ESP
 
How is 30% off of 2500 = only a check of 1100 coming? I'm not a math major, but looks like you posted the 60% off number when you posted about a 30% cut????

.30 x 2500 is 750. 2500-750 is 1750.
 
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How is 30% off of 2500 = only a check of 1100 coming? I'm not a math major, but looks like you posted the 60% off number when you posted about a 30% cut????

.30 x 2500 is 750. 2500-750 is 1750.
Thank you, I stand corrected for the sake of the others out there who will not do the math. I must of been thinking of myself with a possible 60 % cut as an ORPHAN. I am not sure I am one, But could be. I can only hope my cut is only 30%. Thanks again.
 
Thank you, I stand corrected for the sake of the others out there who will not do the math. I must of been thinking of myself with a possible 60 % cut as an ORPHAN. I am not sure I am one, But could be. I can only hope my cut is only 30%. Thanks again.
Who did you retire from? Are they currently making payments to the fund? You know whether of not; just don't like the answer... change your username to lil (orphan) Annie....

Sorry. Not a laughing matter but YOU keep bringing it up. Crying doesn't help. I've tried....
 
Who did you retire from? Are they currently making payments to the fund? You know whether of not; just don't like the answer... change your username to lil (orphan) Annie....

Sorry. Not a laughing matter but YOU keep bringing it up. Crying doesn't help. I've tried....
You know G, nobody would like the answer and nobody likes this situation. This whole thing is too quiet and nobody wants to talk about it. Are we to just sit and take it? Yes I know the funds are in trouble and there is nothing to be done anymore. I have never seen a group of people act like this does not matter to the thousands and maybe millions who will be affected. If I remember correctly you put a sign on your fence, were you crying? I have a real back up plan going into place as we speak. No change in life style for me, not going back to work either and I am not bragging. I am concerned about the ones who do not have a plan. Better get ready, will you ever be able to retire? That was not a jab, just a question. Those retired and not on SS yet, what will they do? Do they even know yet? I am glad I use TB, and I read the Central States mail over the last 10 years. I knew this day was coming and I still do not like it, but we got ready. You do not like it either? My post on here are not so much about me, I want all of us to contact other teamsters to tell them of this so they can get ready. Do I like losing $16,000.00 per year? HELL NO!!!!!!!!!! I am working with a business agent, thru the hall and it looks as if the last company I worked for paid the withdrawal fee. That in itself may have not been enough to keep me from being a God forsaken Orphan. The rules on this plan are not cut and dry, it looks as if the trustee can place cuts where and how he wants to. You are a good man Kook, I hope you do not get tagged as an ORPHAN. Good day to you Sir.
 
You know G, nobody would like the answer and nobody likes this situation. This whole thing is too quiet and nobody wants to talk about it. Are we to just sit and take it? Yes I know the funds are in trouble and there is nothing to be done anymore. I have never seen a group of people act like this does not matter to the thousands and maybe millions who will be affected. If I remember correctly you put a sign on your fence, were you crying? I have a real back up plan going into place as we speak. No change in life style for me, not going back to work either and I am not bragging. I am concerned about the ones who do not have a plan. Better get ready, will you ever be able to retire? That was not a jab, just a question. Those retired and not on SS yet, what will they do? Do they even know yet? I am glad I use TB, and I read the Central States mail over the last 10 years. I knew this day was coming and I still do not like it, but we got ready. You do not like it either? My post on here are not so much about me, I want all of us to contact other teamsters to tell them of this so they can get ready. Do I like losing $16,000.00 per year? HELL NO!!!!!!!!!! I am working with a business agent, thru the hall and it looks as if the last company I worked for paid the withdrawal fee. That in itself may have not been enough to keep me from being a God forsaken Orphan. The rules on this plan are not cut and dry, it looks as if the trustee can place cuts where and how he wants to. You are a good man Kook, I hope you do not get tagged as an ORPHAN. Good day to you Sir.
I WAS an orphan. Now they classify me rehabilitating. No, I don't plan to retire, possibly ever. Where I work has an 84 yr old over the road driver. In better shape than most kids! Retired 17 yes ago,still drives 4-5 days a week. Said staying home is boring. My dad retired three times. Kept working in his eighties. I got his healthy genes. Don't get sick, live til nineties or longer. I don't expect pension or SSI to be there for me and I'm 60... Still 6'2"/ 205 and workout several times a week. I trust Jesus who promised I'll be fine....
 
I WAS an orphan. Now they classify me rehabilitating. No, I don't plan to retire, possibly ever. Where I work has an 84 yr old over the road driver. In better shape than most kids! Retired 17 yes ago,still drives 4-5 days a week. Said staying home is boring. My dad retired three times. Kept working in his eighties. I got his healthy genes. Don't get sick, live til nineties or longer. I don't expect pension or SSI to be there for me and I'm 60... Still 6'2"/ 205 and workout several times a week. I trust Jesus who promised I'll be fine....
Well you have a plan, see what I am saying? You also follow the right path with Jesus. I have noticed he got you home from the Jungle so you can't argue with that. We may banter back and forth some, but sounds as thou we follow the same path. Drive safe and God be with you. Its just me ESP ( orphan Annie )
 
Well you have a plan, see what I am saying? You also follow the right path with Jesus. I have noticed he got you home from the Jungle so you can't argue with that. We may banter back and forth some, but sounds as thou we follow the same path. Drive safe and God be with you. Its just me ESP ( orphan Annie )
I missed the jungle by five days. My Dad went ashore at Normandy. One Brother in law awarded bronze star in VietNam. One on the Wall.... My middle Son's been to Turkey, Iraq, Qatar 4 tours, Kygrstan, and Afghanistan. He's a crew chief on a KC135 tanker jet. So yes, I've been blessed!

Of course,the plan changes when Publisher's Clearing comes to my house. Pm me your info, maybe you'll get adopted...
 
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You know G, nobody would like the answer and nobody likes this situation. This whole thing is too quiet and nobody wants to talk about it. Are we to just sit and take it? Yes I know the funds are in trouble and there is nothing to be done anymore. I have never seen a group of people act like this does not matter to the thousands and maybe millions who will be affected. If I remember correctly you put a sign on your fence, were you crying? I have a real back up plan going into place as we speak. No change in life style for me, not going back to work either and I am not bragging. I am concerned about the ones who do not have a plan. Better get ready, will you ever be able to retire? That was not a jab, just a question. Those retired and not on SS yet, what will they do? Do they even know yet? I am glad I use TB, and I read the Central States mail over the last 10 years. I knew this day was coming and I still do not like it, but we got ready. You do not like it either? My post on here are not so much about me, I want all of us to contact other teamsters to tell them of this so they can get ready. Do I like losing $16,000.00 per year? HELL NO!!!!!!!!!! I am working with a business agent, thru the hall and it looks as if the last company I worked for paid the withdrawal fee. That in itself may have not been enough to keep me from being a God forsaken Orphan. The rules on this plan are not cut and dry, it looks as if the trustee can place cuts where and how he wants to. You are a good man Kook, I hope you do not get tagged as an ORPHAN. Good day to you Sir.
It is unfortunate that in today's world, the majority of the people are only worried about themselves. It is the exact opposite of what the Labor movement stood for. However given the nature of how things are being handled, we actually have very little say in what is about to happen. It would be refreshing if the CSPF would at least contact us with a list of options that are available to stabilize the fund and let us have our say. I for one believe whatever they decide, it should be equal across the board for all involved. I, like you, saw this day coming. One of the reasons I "retired" at age 57 was that I figured I might as well collect what I could while there was still some money left. This does not make selfish. It only means that I was realistic about the status of the fund. If I had a magic wand to make the fund whole, I would. I can't. I will just have to get by on what crumbs they leave for us. I still work. I drive school bus to pay for medical insurance. No matter what happens to the fund, I will survive. But I do agree. Most people do not realize what is coming down the pipe. Sounds like you do. By the way I figured out where you guys have been getting all the smilies from.:wee:
 
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