Discussion in 'Central States Pension Fund Discussion' started by Freightmaster1, Oct 21, 2015.
Didn't Hoffa and Nylan ask congress and POTUS for this legislation?
Yes they most certainly did.
Walden mentioned that before Rep. George Miller left office, he was requesting a congressional investigation of consultants for pension funds who were tied to investment firms. I believe this may be a little background on that.
The named fiduciary for the Central States Pension Fund is NorthernTrust. Check out the pension lawsuits they have been involved with in recent years.
Well, as a side note to our primary goal of repealing MPRA, I hope we are considering a lawsuit against Northern Trust as well. This is apparently a habit of theirs and they are using profits from CSPF to pay these lawsuits!!!!!
Ohio Conference of Teamsters dysfunctional; should be run by trusteeship: report
Lichtenwald, May 6, 2001:
"He drives a pickup truck and doesn't like to see union officials tooling around in luxury vehicles like the Lincoln Continental, which is so commonplace that union dissidents have jokingly dubbed it the “Teamster-mobile.”
“We buy our own cars, but members don't know that,” he explained. “It's arrogant to go to a shop and pull up in a Lincoln. The member is in there, working, sweaty. He looks out and sees a Lincoln pull up and a union official stepping out of an air-conditioned car. It leaves a bad taste in his mouth.”'
We have allowed this. We are the Union and we have looked the other way. We have an ousted president who is still on the Locals payroll. If the Teamsters were AFL-CIO members it would do either of two things. Make the elected officials more accountable, or broaden the base of those plundering the money. We do have some choices coming.
I'd like to hear more about this one. I know it's off topic but if it's true it's newsworthy.
Central States is not considering action against any of the investment firms that robbed us blind to my knowledge, that is why CSPF lobbied heavily for MPRA and basically wrote the language in the bill. Instead they would rather just make the fund solvent by robbing the members to pay for the misdeeds of the bankers.
These proposed cuts stink of impropriety and should be rejected. It seems pretty obvious the board of Central States and Nyhan are in bed with the bankers, why else have they not pursued them in court despite the fact many other funds successfully have ?
I'm guessing you must have a side job as a DCGrad accountant for the CBO?
We promised too much. Quit searching for scapegoats.
Your guessing wrong, I thought you had that job.
How do you explain the numerous settlements Northern Trust has made with pension funds ?
And if PBGC can't cover us why are we still paying insurance premiums to them? Because it is the law is the wrong answer, laws can be changed to suit the situation, MPRA led the way on that one.
I just think there is more to be had for the CSPF members, the whole MPRA deal is too cozy for the fund, government, and the bankers.
We promised? .....
In my opinion, they didn't promise to much..... They mis-managed the billions of dollars that was in their trust and care...... They failed to seek other options first...... They rushed this through congress in relative secrecy attached to an unrelated bill that had to be passed...... They failed us... WE lived up to the requirements to attain elgibility...... WE worked hard, often under demanding and dangerous circumstances...... WE sacrificed time away from Family..... WE earned those Pensions.... So why should WE have to be the scapegoats for the mistakes THEY made?.....
WE aren't searching for "scapegoats"..WE are the scapegoats for their malfeasance.....
Quit trying to excuse them for their foolish handling of the funds....and trying to justify these steep cuts to those that worked decades to earn a decent pension....
They should be investigated for any wrong doing...... If there are avenues to overturn this undoing of retirement security it should be explored....
Don't shrugg it off as "oh well, it's our fault"..... It is not "we" who created this...it is what "they" created through their mis-management...and malfeasance....
We put enough money aside to fund 220,000 teamsters. There are 410,000 teamsters in the fund. We overpromised...
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