Discussion in 'Central States Pension Fund Discussion' started by mustache, Dec 10, 2015.
If they withdraw the cuts, some guy 45 years old with 20 years in now- will get ZERO when he's 65 with 40 years paid in...
The question is, why would the CSPF now want to delay the cuts for another year?
They don't. It appears to me to be a political move by one Trustee. I think the cuts still happen.
I think it is pressure from UPS and the threat of legal action from them that is going to send the plan back to CSPF. Between Bruce Trojak's letters and UPS's lengthy report on the fund the flaws in the rehab plan and the mismanagement of the pension is going to be the main focus. CSPF is trying to grease one by everybody and they need to be stopped. Like Mr. Trojak stated, get a competent turnaround expert to take over and do a complete audit and then see where we stand. If it takes another year, so be it, why is everybody so eager to let those thieves pick our pockets with a rehabilitation plan that has in their own words " a 50/50 chance" of working ?
I realize cuts will be needed, let's just do it the honest and correct way.
Very well stated Freight jockey, I also believe because of UPS wanting to protect themselves and the Trojak's letter that we will at least see a small wait and see period. Or at least a better look at the plan by the Treasury instead of the movement of formality for the Central States plan. When you read and I advise everyone to read the UPS letter in detail, you will see many flaws and allegations brought up against the funds proposal. UPS would not have made the allegations if they did not have the legal staff and money to back them up. This is the time to pull back the reins and see what they are really doing. I also believe cuts may be necessary, but not with so much discrimination. We all need to continue to figure how we are going to deal with the cuts, because big money and Congress have a lot at stake here. They do not like to back down on anything, right or wrong. In other words, " Continue to hope for the best as you prepare for the worst".