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Thread: Central States Fund: $19.8 Billion

  1. #1
    R-14Driver's Avatar
    R-14Driver is offline Senior Member
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    Central States Fund: $19.8 Billion

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    November 7, 2011: The mid-2011 financial report on the Central States Pension Fund is now available from Teamsters for a Democratic Union. The report, prepared by the Fundís Independent Special Counsel, shows that Central States has to make 11 percent return on investments to keep from going backward.

    The Fund took in $333 million in employer contributions for the first half of 2011, and projects an annual income from employers of $677 million. This includes the reduced contributions from YRCW, which started on July 1. But the payout of benefits will be $2.83 billion, more than four times the income for employers. This means the fund needs to make $2.2 billion on investment income, just to tread water.................

    Central States Fund: $19.8 Billion | Teamsters for a Democratic Union

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  3. #2
    Fr8holler is offline Senior Member
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    Good luck on that.
    jimmy g likes this.

  4. #3
    Freightmaster1's Avatar
    Freightmaster1 is offline Premium Member
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    Things Have Got To Change!

    When Sandy Pope gets elected IBT President, she will push for real multi-employer pension fund reform and make a real effort to shore-up ALL the Teamster multi-employer plans including Central States! Why Hoffa, Hall, and rubber stamp Fred Gegare ever let UPS out of the Central States Pension Fund, and why they organized UPS Freight into a company pension plan is still a mystery to me!

    hanalad and speedball like this.

  5. #4
    Free Dumb is offline Senior Member
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    Follow the money and the mystery disappears.

  6. #5
    bootleg707 is offline Senior Member
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    I'm east coast what happened to obama pension reform I'm not TDU but voted against him for all the obama b.s. (mexican trucks,Hos) He care's nothing about us HOFFA SUCKS!
    speedball likes this.

  7. #6
    bigtruk_us's Avatar
    bigtruk_us is offline Senior Member
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    Since Ms.Pope has said what she would do.why can't other candidates do the same.if she knows that's not breaking news.nothing new there

    Sent from my LG-P999 using Forum Runner

  8. #7
    turboj is offline Banned
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    Quote Originally Posted by bootleg707 View Post
    I'm east coast what happened to obama pension reform I'm not TDU but voted against him for all the obama b.s. (mexican trucks,Hos) He care's nothing about us HOFFA SUCKS!

    pos hoffa's idea of pension reform is to get the pbgc to take everything over and everyone gets a 1/3 of what they were or suppose to get. That way the pos can say the funds are secure and wash his dirty, grubby, stankin, filthy, friendly slap on the back to his ceo buddies hands of it!

  9. #8
    Bart is offline Senior Member
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    Quote Originally Posted by Freightmaster1 View Post
    When Sandy Pope gets elected IBT President, she will push for real multi-employer pension fund reform and make a real effort to shore-up ALL the Teamster multi-employer plans including Central States! Why Hoffa, Hall, and rubber stamp Fred Gegare ever let UPS out of the Central States Pension Fund, and why they organized UPS Freight into a company pension plan is still a mystery to me!

    Nobody let UPS out! If you have the cash to pay the withdrawl liability nobody can stop you not even the Pope
    Oh I almost forgot UPS members VOTED to leave CSPS

  10. #9
    turboj is offline Banned
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    Quote Originally Posted by Fr8holler View Post
    Good luck on that.

    Ain't that the truth!!! Since they deposited the whole kitten kabooble in a S&L 1/2 of a percent passbook savings account!
    Where are the keating 5 when you need them!

    They'd of been better off buying 19 billion worth of post office 44 cent forever stamps!

  11. #10
    electraglideatl's Avatar
    electraglideatl is offline Senior Member
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    Quote Originally Posted by Bart View Post
    Nobody let UPS out! If you have the cash to pay the withdrawl liability nobody can stop you not even the Pope
    Oh I almost forgot UPS members VOTED to leave CSPS
    What the Ups guys do not realize is that when they turn 65 Central States is suppose to kick in and pay a portion of their retirement and they will be in for a huge dissappointment because Central States will not be able to meet those obligations.....Ups will only pay their pensions till 65 and that will be the end....Then CSPF pays after.....How soon they forget.....nuff said......
    Freightmaster1 and hanalad like this.


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