What's new

Holland | READ pension news letter

Now try this on for size....1.88 x 40 is around $75 a week to the pension...full pension around $400 a week.....you guys are now getting 1 full pension credit after working about 5.3 years....when the full boat on the pension hits $600 a week in a couple years you will then get 1 credit for every 8 years worked! Thats messed up.
 
ESP said:
So ole buddy, I am shooting from the hip here, but if you send all future payment at 25%, to the 401 K route, then the funds are gone to support the current retirees'. What happens to them? OH! wait a minute they did nothing for the pension and the union, so lets drug them and put them in the water and see how long they can float. GOT YA!, good plan. :2437:
Click to expand...
NO , the RETIREE'S would GET a share of the money too and they could invest it or do what ever they want with it ?? point is that everybody would get a % of whats left in the fund now and the RETIREE'S will be getting a CUT anyway , by 2016 so if it a lower sum for a few years or a lum sum payment ?? READ the letter cuts are coming period .........................................................................................
 
freight jockey said:
Our health benefits are worth about $8 /hr. and our pension contributions were worth around $7.50 /hr. until they cut us back to $1.88/hr. on the pension. I have never heard anybody say they lost $5.62/ hr. in pension benefits yet, even the fact they are only paying 25% of what the pension should be doesn't bother most. Sad. Like you stated, as long as they are getting 20 hrs. OT a week or 600 miles a night everything is good with a lot of them.
Click to expand...
The problem is the decline in membership, more going out than coming in, don't ya think?
 
ketch-up said:
Were is the money going to come from to pay the bills. There is more money going out than coming in. I hate it too. There has been no money stolen.
Click to expand...
Please tell me you do not believe that. Each employee had his or her pension paid for every day they worked. If a company went under the employees pension payments were stopped ( but what they had was still there). When UPS bailed out of CSPF they gave them $6.1 billion. All of this money ( if invested conservatively ) would not only be there but would have grown enough to withstand "some" of the negative hits. One of two things happened. Several people in high Union positions stole it ( period ). Or, the same people invested it aggressively and took unnecessary risks with money that wasn't theirs to " gamble" with. THIRD OPTION, THEY DID BOTH. Even with "orphans" , their money that was paid in should have been there if the fund had been run correctly. People seem to think it is too much to ask of a company to run it efficiently.
 
freight jockey said:
Yeah...OK.....how about extremely poorly invested ? Call it what you want but when the investment firms are investing to maximize their fees and profits instead of the well being of the fund I call it stolen.
Click to expand...

Way to many high paid salaries to people managing the fund! Very top heavy to say the least! Basically stolen, I Agree!!
 
It makes me sick when I see us peasants get the shaft every time we turn around, and the pukes in charge are living high off the hog with our money. They run their business (and pension plans) into the ground while stuffing their pockets with our money, then the company shuts down (or the pension fund goes broke) and we are the ones that get screwed.......while they keep living their lavish lifestyles, even though they are the ones that failed.....not us.

To put their poor job performance into perspective: If we did OUR job as poorly as THEY do their job, we'd return to our terminals with vehicles and signs dragging underneath our trailers.

I hope these incompetent, greedy bastards rot in hell. They make me sick.
 
You must log in or register to reply here.
Top