sent this to congress

Discussion in 'Central States Pension Fund Discussion' started by b6868, Feb 25, 2016.

  1. b6868

    b6868 New Member

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    Proposed Central States Pension Fund cuts

    It seems that all current retirees are working at a frenzy level to save “their” retirements but let’s take a closer look at what they claim is theirs.

    Most retirees took an early retirement under the 30 or 25 and out rule. Breaking this down:

    30 years at 3000.00 per month times 10 years is $360,000.00 times 15 years is $540,000.00

    30 years at 2200.00 per month times 10 years is $264,000.00 times 15 years is $396,000.00

    20 years at 2000.00 per month times 10 years is $240,000.00 times 15 years is $360,000.00

    This far exceeds the amount paid into the fund on their behalf. If they continue to draw at even at a reduced rate the total sum is staggering.

    Where is this money coming from? From my retirement proceeds! I am 59 years old and have 38 years of service and cannot retire until the age of 65 and then will only receive $1950.00 per month. I will never live long enough to draw the amount that was paid in on my behalf.

    When these cuts happened a few years ago, to those still working, the poor, poor retirees that are now on a letter writing campaign, because of the new cuts, were silent and the silence was deafening. As long as they were getting “theirs” who cares about anyone else.

    My company was put on the brink of bankruptcy paying into the pension fund for the hundreds of orphan companies out of business and not paying in a penny for as much as twenty years. I’m forced to work an additional 10 years at a reduced wage, reduced vacation time, reduced pension contributions and now they are going after our medical insurance.

    When does this madness stop? It’s not “their” money anymore it’s mine. They should thank their lucky stars that they drew out all that was paid into the pension fund on their behalf.

    It’s time to stand up for my rights and what I have earned and the thousands still working just like me. Please take our families into account when reviewing the proposed cuts.
     
    DaTeamster likes this.
  2. ESP

    ESP Well-Known Member

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    I may not make you happy, but there is a provision in the cuts for current workers to increase their pension back up to some higher level. I am not going to waste my time looking it up, but you can add to that $1950.00 by about $130.00 per month per extra year put in. Nothing is fair about this whole plan. Is it fair for a 74 year old to take a 65% cut for life when a 75 year old cut is less, then a 76 is less and so on. How about when you get to be 80 you take no cut. Yet when the 74 turns 75 nothing changes for him or when he is 80 nothing changes. How is that fair? By the way some of them over 80 are Orphans with no cuts.. In Central States mind, they are saving you by cutting the rest more than you. Everybody worked for their pension as you did. We will all be cut and you will not be cut as much as some and still have a chance to improve upon what they sent to you in your letter. Good Bless
     
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  3. COOPER

    COOPER Active Member

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    In a word, the CSPF proposal is inequitable and in my option it is contrary to what the the law requires. MPRA specifically states "benefit suspensions must be equitably distributed across the participant and beneficiary population". This proposal does not meet that requirement. The law further lists the conditions that "may" be considered for suspensions. These conditions are the tiers, orphans etc. It is interesting to note that the law does not state that these conditions SHALL be considered but only that they "may" be considered. As CSPF crafted the proposal the conditions they chose to apply has created an inequitable situation and should be illegal. There may be other plans where an application of the conditions such as those chosen by CSPF would be equitable but considering the specific participant and beneficiary population of CSPF the application creates an inequitable and I believe an illegal application of MPRA.
     
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  4. ESP

    ESP Well-Known Member

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    Very well said my friend. Good to see you on here again.
     
  5. b6868

    b6868 New Member

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    Let me get this through your thick truck driver skull. I've put in 38 years 8 years longer than you I don't to keep working! I want to draw my retirement and kick your dumb ass off the tit.
     
  6. mud

    mud Wonderin'

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    ???? !!!!
     
    strangedays50, jimmy g, ROADY and 2 others like this.

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