Pension

Discussion in 'ABF Freight System' started by Muler, Aug 21, 2012.

Would you vote to opt out of CSPF

  1. stay in my current plan!

    19 vote(s)
    32.2%
  2. open for change!

    40 vote(s)
    67.8%
  1. Muler

    Muler Banned

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    There are troubling signs all around us. I'm glad you can call a 2 BILLION DOLLAR increase a small increase. What you failed again to do was acknowledge that the fund did this while receiving no yrc payments. And that the fund was able to offset the lack of contributions and still grow by over 2 BILLION DOLLARS. You have not seen the funds forecast since the yrc blood letting have you? You have no idea how much the fund is shrinking or growing do you? If you have this information please post the links for all of us to read. I will be waiting for your information with your personal relationships with those high ranking IBT people and all. YOUR AWAITING BROTHER ALWAYS!
     
  2. Muler

    Muler Banned

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  3. Docker

    Docker Banned

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    Is it as accurate as this post by you?


    Now...why don't you you try to live up to your own advice like you stated below????


     
  4. truxforever

    truxforever Banned

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    He's back!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
     
  5. papajohn

    papajohn Banned

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    Mr gloom and doom. Your like the boy that cries wolf. After reading your post I find it hard to believe anything you say I really hate to tell you this, but the world isn't going to end yet. If the fund does go bankrupt and it won't, it will be because of poor management, and yes it will also be the teamsters fault, because of all there bad decisions that has brought us to this point. It goes hand in hand, it is not the abf teamsters fault. Sorry about your luck but we are not about to give up our pensions as some are pushing for.
     
  6. Docker

    Docker Banned

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    Mr. gloom and doom...I like that Papajohn...lol

    What I would like to hear is why the self proclaimed experienced debater nothumblenough explain is why he decided to join a company that...in his mind was doomed to fail?

     
  7. Docker

    Docker Banned

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    Also...why didn't you take your own input here and go elswhere for a job?

     
  8. Muler

    Muler Banned

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    AP: 10 highest-paid U.S. CEOs
    Figures according to AP analysis of Standard & Poor’s 500 companies. Includes firms that had the same CEO for all of 2010 and 2011 and that filed SEC proxy statements between Jan. 1 and April 30.
    AP’s compensation formula totals salary, perks, bonuses, preferential interest rates on pay set aside for later, and company estimates for the value of stock options and stock awards on the day they were granted last year.
    1.DAVID SIMON, Simon Property Group, $137.2 million, up 458%
    2.LESLIE MOONVES, CBS, $68.4M, up 20%
    3.DAVID M. ZASLAV, Discovery Communications, $52.4M, up 23%
    4.SANJAY K. JHA, Motorola Mobility, $47.2M, up 262%
    5.PHILIPPE P. DAUMAN, Viacom, $43.1M, down 49%
    6.DAVID M. COTE, Honeywell International, $35.7 M, up 135%
    7.ROBERT A. IGER, Walt Disney, $31.4M, up 12%
    8.CLARENCE P. CAZALOT JR., Marathon Oil, $29.9 M, up 239%
    9.JOHN P. DAANE, Altera, $29.6,M, up 278%
    10.ALAN MULALLY, Ford, $29.5M, up 11%
    Source: Equilar


    Typical CEO made $9.6 million last year, AP study finds
     
  9. Muler

    Muler Banned

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    University of Delaware.

    The typical American worker would have to labor for 244 years to make what the typical boss of a big public company makes in one. The median pay for U.S. workers was about $39,300 last year. That was up 1% from the year before, not enough to keep pace with inflation.

    Typical CEO made $9.6 million last year, AP study finds
     
  10. Docker

    Docker Banned

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    And that is done by persuading the workers to accept less!!!!
     
  11. Docker

    Docker Banned

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    It is easy for union officers to ensure that their pension plans are well-funded. The officers make
    the essential business decisions for the union as employer. Union officers know—or are in a position to
    know, if they engage competent accountants—how much they should pay into their own pension plan.
    They control the allocation of union dues to the union’s several categories of expenditures, although
    some unions may have procedures for budgetary review by rank-and-file, or at least a members’ committee.From year to year, union officers, with the help of technical staff experts, such as accountants,
    can improve deficient pension plan funding more easily than a corporation can.
    Since their own retirement is affected, union leaders have an incentive to ensure that their future is
    secure before looking to the general union funds. They may spend more effort tracking and correcting
    pension funding for officers’ pensions. Unions are fans of “pay-for-performance” for
    corporate executives. They argue that a CEO ought to be punished, or at least not rewarded, for poor
    outcomes—flat or declining profits. They decry such practices as golden parachutes and stock option
    repricing. But it is clear that unions are not structured in a way that best advantage their members. The
    leaders do not have incentives to ensure that the national pension fund is well-managed because their
    own future is not at stake.There is intuitive sense in giving a manager a personal interest in the future performance of the company he manages. In the same way, it might make sense to put union leaders’ pension funds in the same boat as the funding for the rank-and-file. By giving them a personal stake in the future of the pension fund, the unions would push their leaders to weigh the costs and benefits of benefit increases and thus to make better decisions at the bargaining table.

    http://www.google.com/url?sa=t&rct=j&q=teamsters%20union%20officials%20pensions%20are%20guaranteed&source=web&cd=5&cad=rja&ved=0CEcQFjAE&url=http%3A%2F%2Fwww.hudson.org%2Ffiles%2Fpublications%2FUnionVsPrivatePensionPlans.pdf&ei=WuqwULXfHIPQ2wX_q4HwBA&usg=AFQjCNHN1ffQ9UdWjaFXwjk5rLT1fMmeBA



    Sounds like a good plan to me!!!
     
  12. nothumbleenough

    nothumbleenough Member

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    I must be getting under your skin. Going back to my first couple of posts. Wait, this kills the Moderator Muler narrative about me being a plant from managment. Which is it?
     
  13. Docker

    Docker Banned

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    Ok...I got your first three posts...



    Now...tell me...just what does this prove...I can't wait for this reply...lol
     
  14. nothumbleenough

    nothumbleenough Member

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    Well it proves you are so worked up you are pulling my oldest post in these forums. In your younger days, could you find more productive ways to work out your frustration?:smile:
     
  15. Docker

    Docker Banned

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    [​IMG] Yep...I'm all worked up alright...you really showed me [​IMG]


    Let's get back to business...answer my questions...will ya?
     
  16. slugbug

    slugbug Banned

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    I remember back in like 1974 when I was saying to the older teamster brothers.....hey guys I want that money on my paycheck....and they are telling me we need to increase our pension contribution to enhance our retirement pensions.....at the time I really didn't get what they were saying....now.....when 2006 came around and I retired at 53 years old out of the western conference....I finally understood what they meant....now you all can do....and say anything you want....you won't be hurting the retirees pensions by changing your own direction today, but you will hurt yours.....just food for thought....central states is a different situation than western conference....good day.
     
  17. Docker

    Docker Banned

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    I know what you mean slugbug...when I first started I could of cared less about the pension contribution and rate...it just seemed too far down the road to even care about and would take forever and a day to get there...but as the years slowly went by...my realization of just how important the pension issue really was became clearer and clearer with each passing year.

    I'm glad to hear that you had the opportunity to retire at the young age of 53 and I hope that you are enjoying your retirement and wish you the best of luck for good health for many years to come.
     
  18. Muler

    Muler Banned

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    Your post says it all as to why the pension funds were started. Hoffa sr. knew that a Truck Driver or Dockworker had very little if any chance of making it to 65 healthy. But he also knew that many would not put aside the money to be able to retire. The funds are a safety net for hundreds of thousands of Teamsters and their families. There are those that come on this forum and cry the sky is falling and want Teamsters to just throw away their futures. They speak of dumping a fund that they have contributed to for years for what? Because they think the company is going to give them the money in a raise? They would be wrong! ABF would as they put it in the BEG BACK PLAN put the money back in the company coffers. That's right they would take the money from our pensions and give it to themselves. Why are some who say they are one of us want any chance of a pension thrown out the window. Now some believe that we would be better off with a 401k. Well there are several problems with that. ONE being once ABF was out of the pension funds and into a 401k they would have no pension liabilities and they could cry DISTRESSED and opt out of any 401k payments at will. No the funds have to be fixed and we need our pensions. Here is a little information for the sky is falling kid. ABF was one of the stocks that CSPF held for years. So our pension fund was helping our company but you never posted that did you? Yes we have had the wrong people in charge for years that have driven our pension funds down. This was not our fault the companies and the IBT placed these people there and it is them that need to fix what they have broken. Me and my Brothers did without to have that money contributed for us and we will not give it away I assure you of that. If you have any question as to how it feels to not have a pension just ask a yrc Driver that is not getting credits for his days worked and suffers the age 65 penalties. And for the poster that is crying that we have not kept up with inflation. If you can not live on $25.00 an hour you may have a spending problem. AS for me I am open to any talks that promises to match and maintain my pension as it is now promised in the CSPF anything less is unacceptable. YOUR PENSION LOVING BROTHER ALWAYS!
     
  19. Joe the plumber

    Joe the plumber Banned

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    Good post slug, I remember when a raise went into the pension, can't remember exact date. The company nor the teamster had no control over it. Central States Fund did quite well when Goldman Sachs was running it. It lost a couple billion since they were asked to resign because many thought they wanted to put YRC out of business. Big Wall St banks are masterminds at making money before the great '07-'09 financial crash brought them down, brought YRC down, brought CSPF down..brought the country down. Had nothing to do with mismanagement..all to do with the credit/housing melt down..trillions of dollars of wealth was lost.
    I lost a billion myself[​IMG]
     
  20. Muler

    Muler Banned

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    You don't have a clue what you are talking about. Hell we lost 6 BILLION DOLLARS in one year during Goldman Sachs tenure. Come on joe many funds gained or held their own just look at the Western Conference. And the only difference is the people running them. Quit making excuses because you are a hoffa huger. You know it makes you look so weak when you defend people that have watched as our union as went down under their watch. So don't tell us your hoffa BS we have all heard it. He won because many don't care anymore 18% voted. That in its self says it all about hoffa his members just don't care. And that is a direct reflection of hoffa. YOUR NON hoffa BACKING BROTHER ALWAYS!
     

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