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Deleted member 5115
Guest
Can you keep it civil guys? this is obviously a sensitive subject and there is no need to add inflammatory comments.
NO U FOOL, HAD TO GET AN ICE COLD HUDEPOHL TO MAKE DEALING WITH YOU TOLERABLE. do your nurses let you have a beer.
Oh boy. Math. Judy's fool really cant stand Math.
Agreed, that bullshit needs to stop.How can one argue with such an intellectual reply such as this.
What is already underway? Your investigation? So what! I will say again, NO outside money will come in to make the fund solvent.What is your proof that this will never happen? This is already underway!!!
What is already underway? Your investigation? So what! I will say again, NO outside money will come in to make the fund solvent.
3. Wall Street banks, under government supervision, placed CSPF monies into risky investments.
4. The CSPF has lost 16 - 18 billion dollars due to Wall Street investment stratagies.
5. The Federal Government should be held liable for its oversight of the CSPF.
A dollar a week next contract then. Thats the attitude that gets active and contract voters pissedWell if there is not going to be any outside money... They will just get it from the actives. Thank you and keep paying in!!!
Now I think I am gonig to go fishing with BaBaLoo!!! Thanks again
And you wonder why I call you greedy. I hope they cut yours to the max allowedWell if there is not going to be any outside money... They will just get it from the actives. Thank you and keep paying in!!!
Now I think I am gonig to go fishing with BaBaLoo!!! Thanks again
Hoffa didn't let ups out the ups drivers wanted out. ups paid the 6.1 billion dollar withdraw penalty. at 8% that would provide 480 million in income a year with no additional pension liabilities because they where transferred to their own pension fund. there where 45,000 cspf ups teamsters, where did you get 275,000. ups pays into twenty other teamster pension funds. babaloo, P.J., NO U FOOL instead of congratulating yourself for spreading propaganda. you need to start convincing the actives to stay with the greedy rats on the sinking ship!!!!!!I would like to add a few comments at this point. Many numbers have been thrown around over the last year and a half. Some are factual, others are not. I could spend the time to support the numbers that I have used, but I would rather not. Who knows the truth? I have been monitoring the CSPF since the time that Hoffa Jr. let UPS out of the fund. At that point I knew that it was a matter of time before the fund would be in financial trouble. You cannot continue to mantain a viable fund when you let 275,000 active paying members walk away. We can point fingers and lay blame but I believe this is a fact. The remaining retired and active members of the CSPF were cut adrift by the International Brotherhood of Teamsters. So like it or not, we are all in this together. So each individual needed to plan accordingly. I, for one, retired five years ago at the age of 57 knowing that the amount of time that I could collect a full pension was probably limited. I wanted to get what I had rightfully earned and paid for. Does this make me a bad person? Does this make me a selfish individual? Actually this makes me a person who had planned for retirement based upon the promises that were made to me. And those promises were backed up by federal law. Unfortunately, these conditions no longer apply. So now I will have to adjust, just like eveyone else. There are some other facts that everyone should consider:
1. The CSPF applied for a benefit reduction under MEPRA.
2. Retired and active Teamsters got politically motivated to stop the cuts.
3. Members of Congress lobbied Treasury to reject the CSPF application.
4. Treasury rejected the application
5. The CSPF stated that it would not reapply for benefit reductions under MEPRA
That is where this issue currently stands. The fact is that politically motived Teamsters got results. That does not mean that this is over. It means that we have a chance to influence the eventual outcome. Here are some more facts:
1. The CSPF is estimated to run out of money in 10 years or less.
2. The Federal Government has oversight of the fund.
3. Wall Street banks, under government supervision, placed CSPF monies into risky investments.
4. The CSPF has lost 16 - 18 billion dollars due to Wall Street investment stratagies.
5. The Federal Government should be held liable for its oversight of the CSPF.
The Government Accounting Office is currently conducting an investigation into all of these matters. We will see where this all ends up. We could maybe all get full pensions, or nothing at all. The one thing I do know is that we have to stay involved. Both retired and active members all have skin in the game. Something will happen. If we continue to engage politically, we can and will influence the eventual outcome. In the meantime I am heading to the lake and going fishing. It is another thing that I planned for in retirement.
And you wonder why I call you greedy. I hope they cut yours to the max allowed
A dollar a week next contract then. Thats the attitude that gets active and contract voters pissed
And you wonder why I call you greedy. I hope they cut yours to the max allowed
NU
Hoffa didn't let ups out the ups drivers wanted out. ups paid the 6.1 billion dollar withdraw penalty. at 8% that would provide 480 million in income a year with no additional pension liabilities because they where transferred to their own pension fund. there where 45,000 cspf ups teamsters, where did you get 275,000. ups pays into twenty other teamster pension funds. babaloo, P.J., NO U FOOL instead of congratulating yourself for spreading propaganda. you need to start convincing the actives to stay with the greedy rats on the sinking ship!!!!!!
I was already slated to be cut in the plan that was put forward. You act as tho only the retirees were to be cut. It was everybody. And even those cuts werent deep enough. Without cuts the fund will go dry and yes THEN I will not get anything. So if we dont cut fine. Keep yours. The actives should be able to get out and stop contributing to something they will never get.If they cut mine to the max, then you probably won't be getting anything!!! You better hope we win, that will be the only way you are going to get anything. You need to wake up kid and figure out that fighting is going to be your only chance for a pension.
I was already slated to be cut in the plan that was put forward. You act as tho only the retirees were to be cut. It was everybody. And even those cuts werent deep enough. Without cuts the fund will go dry and yes THEN I will not get anything. So if we dont cut fine. Keep yours. The actives should be able to get out and stop contributing to something they will never get.
UPS teamsters with less than twenty years in cspf took a 69% pension cut. not a 40 or a 50 or a 60 percent cut. that after UPS paid a 6 billion dollar withdraw penalty. do you wonder why UPS protestedyrc-atm you are correct about the Actives Teamsters receiving Pension cut letters too. CSPF had to send them to all Teamsters by law. The Treasury Department stated that CSPF did not or could not make the cuts deep enough to save the fund. That is one of the reasons that the application was turned down. Most Retirees were going to be cut to the max, and could not be cut any more.
UPS Teamsters that retired after 2008 did not get cut, and as far as I know, not all UPS Teamsters that retired before 2008 took the cut either. Not Sure!!!
In my opinion 75-79, and those over 80 should not have been exempt from the cuts, and IMO this should not have been included in MPRA. MPRA is unconstitutional, and needs to be repealed.
I can tell you this, we are fighting for all Teamsters, Retirees, and the Actives alike. This is a battle that we cannot afford to lose.