https://www.centralstatesfunds.org/CSF/Pdf/Arbitration_Letters/5-1-2008-1st2008.pdf
https://www.centralstatesfunds.org/CSF/Pdf/Arbitration_Letters/06-07-2012-4th2011.pdf
Again, not a one year snap shot, but five year trend. The pension had 26.8 billion on 12-31-07 and 91,000 actively participating to the plan with 212,000 drawing checkings in retirement. 1 worker paying into the pension while 2.32 are drawing out a pension. Page 8 will verify my information.
At the end of 2011, the pension had 17.7 Billion in assets. 63,000 paying into the fund will 212,000 are drawing from the fund. 1 worker paying into the pension, while 3.3 are drawing out of the pension. Page 11 will verify my information.
In the five years, CSPF has paid out or lost in the market 9.1 Billion and shrank those paying into pool by 28,000. I don't see a damn thing positive about those numbers.
Your take on the CSPF is to say the least cloudy. Yes those that did our investing(Goldman Sachs) Since gone! Did poorly in their duties to grow our fund. The bulk of the 9 Billion dollar shrinkage was due to the recession and that has since begin to climb back. CSPF assets grew last year. You throw numbers out like 1 worker pay for 3 retirees. That is not completely true. The number of retirees is correct but that is where you get the FACTS WRONG! You sir did not tell the complete truth. How many of those retirees pensions are being paid by UPS? After all you have to know that the agreement between CSPF and UPS made UPS responsible for all UPS retirees under 65 and from age 65 on CSPF pays their pensions.
Changes the picture doesn't it. Your figures then don't look so frightening. You call Teamsters orphans so then shouldn't your years at yrc be considered orphan years? Surely you don't expect ABF to make good on those years if anything should ever happen to yrc.
We lost 9 Billion in the stock market. 401k plans lost TRILLIONS. So wouldn't that make a 401K more dangerous than a defined pension plan? The CSPF needs fixed not destroyed. I have yet to hear what you would have happen to those at ABF who have 30 or more years in the funds. Because after all if ABF is allowed out or defers pension payments then we will all suffer the same penalties as the yrc Teamsters. So am I to believe that you are willing to throw the pensions of all the ABF Teamsters in the dumpster. I can assure you this will not happen. There are more of us ABF Teamsters that have many years in the funds and it would not be in our best interest to have our pensions cut in half because of default rules in the CSPF.
What would we have to lose on staying in the CSPF. After all if we let ABF out our pensions will be cut in half. And if some day the CSPF goes into default and the government takes it over we will receive half of our pension. So you see we the vested Teamsters have nothing to lose pension wise.
Now that we have determined that your claim of the SKY IS FALLING doesn't hold any water we should really move on. WE HAVE NOTHING TO LOSE!
Somehow you keep referring to me calling for ABF to pay more and I have ask you on several occasions to quote my post saying that. But I know you can't because I never said that. So please post that you made that up so as not to look like you fabricate things. I'm, Just saying.
Now on the 8% statement again you make it sound as though the SKY IS FALLING. Do you even know what the weekly contribution is?
The funds need fixed not destroyed.
I am just a little concerned on your calling Teamsters Orphans.
Did you call them Orphans when they walked pickets lines in the extreme weathers conditions So you today could enjoy a good wage and work rules? Did you call us orphans when we fought to have an Article placed in our NMFA holding the companies to a maintenance standard for Trucks. Yes before your time many Teamsters had to breath diesel fumes due to there not being any language on vehicle maintenance standards. So all those Teamsters that died so you today have a much safer and maintained vehicle.
No I can't say you are management but you sure sound like management to me though.
Now I have heard you complain a lot about what is wrong. Now I would like to hear some Ideas you have to fix it.
Funny when you think you don't need someone they quickly become an Orphan. I will assure you of this (brother) you may think you don't need your fellow Teamsters(ORPHANS) but you will need them someday soon. And what are you going to do when they refer to you as the ORPHAN?
You cut and ran at yrc and I am confident you would do the same here at ABF given the chance. After all you are the loudest on this thread beating the drum to cut the yrc Teamsters. And you worked there TEN YEARS! Loyalty doesn't seem to be one of your strong suits.
Ten Years and you want them destroyed. As a Teamster I must say SHAME ON YOU!
I along with every other ABF Teamster wants ABF to survive and grow. After all we were doing that before you came here. But unlike you we will see to it that they do it the RIGHT WAY. Not like COWARDS! We will stand toe to toe with the company and hammer out a FAIR AND HONEST CONTRACT that benefits all parties.
But one last thought for you and any other ABF Teamster that thinks ABF pays to much. You can write them a check each week returning what ever amount of your pay you deem they deserve back because they paid to much on your behalf. I'm sure they will be very grateful.
YOUR WORKING HARD AND EARNING EVERYTHING I GET BROTHER ALWAYS!