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US Overpaid Teamsters Pension Counting Dead Participants

Triplex said:
news.bloomberglaw.com

US Overpaid Teamsters Pension Counting Dead Participants (1)

The federal government overpaid one of the nation’s largest union-backed pensions by more than $127 million in bailout cash because it failed to detect dead participants the plan had reported, according to a new watchdog memo.
news.bloomberglaw.com news.bloomberglaw.com
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Gee I wonder how many of the “dead” people counted had signed up for survivors benefits, and still have spouses receiving money. I wonder if some of Yellow’s accounts work for the government now?
 
dokman said:
Gee I wonder how many of the “dead” people counted had signed up for survivors benefits, and still have spouses receiving money. I wonder if some of Yellow’s accounts work for the government now?
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ABF381 said:
Good point my mom collected after my stepfather passed...
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crazysandy said:
I wish the people that wrote/posted this article would take things like survivor benefits into account. I hadn't even considered that. I was just snickering and assumed the worst and I am pro union
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Did you all read this part of the article?

"He said he doesn't fault Central States for the overpayment. The plan has been "more than cooperative" helping calculate the estimates his office used and continues to work closely with OIG staff, Novak said."

That seems to indicate Central States would have indicated which payments were "survivor benefits."
 
Triplex said:
Did you all read this part of the article?

"He said he doesn't fault Central States for the overpayment. The plan has been "more than cooperative" helping calculate the estimates his office used and continues to work closely with OIG staff, Novak said."

That seems to indicate Central States would have indicated which payments were "survivor benefits."
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No I didn't for sure.
 
Triplex said:
Did you all read this part of the article?

"He said he doesn't fault Central States for the overpayment. The plan has been "more than cooperative" helping calculate the estimates his office used and continues to work closely with OIG staff, Novak said."

That seems to indicate Central States would have indicated which payments were "survivor benefits."
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I read it and I considered it fluff.....they aren't going to fault anyone right off till they investigate it......
 
ABF381 said:
I read it and I considered it fluff.....they aren't going to fault anyone right off till they investigate it......
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Think about. If the so-called "dead people" were "survivor benefits" cases, the payee would be the spouse who would be very much alive. The payee of benefits couldn't be the deceased retiree because his/her spouse wouldn't be able to cash checks in the deceased's name.
 
Triplex said:
Think about. If the so-called "dead people" were "survivor benefits" cases, the payee would be the spouse who would be very much alive. The payee of benefits couldn't be the deceased retiree because his/her spouse wouldn't be able to cash checks in the deceased's name.
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I get that....I'm just saying I will wait for it to develop....
 
I doubt anyone will investigate because there is nothing to investigate........ Has anyone heard of Bloomberg Law News before this? Not me! And the PBGC Inspector General found the accounting error? Sounds like Fake News to me.
 
Homesick said:
I doubt anyone will investigate because there is nothing to investigate........ Has anyone heard of Bloomberg Law News before this? Not me! And the PBGC Inspector General found the accounting error? Sounds like Fake News to me.
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Well that settles it. If one individual on TB never heard of Bloomberg Law it's got to be fake. Nothing to see here! :duh:
en.wikipedia.org

Bloomberg Law - Wikipedia

en.wikipedia.org en.wikipedia.org
(I hope I wake up from this bad dream)
 
Homesick said:
And some people will believe anything if they see it in print. Oops, i got to go. GQ magazine editor says I'm late for this afternoon photo shoot.
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And many of us digest what we hear and read and sift through the information and make reasonably intelligent judgements about the accuracy of said information. Good luck on your photo shoot by the way. Will you post the photo here so we all can be proud that one of our own has attained such a lofty status? :smile new:
 
Homesick said:
I doubt anyone will investigate because there is nothing to investigate........ Has anyone heard of Bloomberg Law News before this? Not me! And the PBGC Inspector General found the accounting error? Sounds like Fake News to me.
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I'm surprised you're not familiar, that's Mrs Bloomberg's son or daughter, I can't remember which.
 
Triplex said:
Think about. If the so-called "dead people" were "survivor benefits" cases, the payee would be the spouse who would be very much alive. The payee of benefits couldn't be the deceased retiree because his/her spouse wouldn't be able to cash checks in the deceased's name.
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Please type this slower next time, I had to read it twice.
 
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