canaryinthemine
Retirement....The Job I Was Born To Have!
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I use a feather duster in the deeper cracks,...and rain water cleans out the rest.......Now that is funny. von.
....and sadly true......
I use a feather duster in the deeper cracks,...and rain water cleans out the rest.......Now that is funny. von.
There is a infomercial going around promoting ' Miracle Wrinkle Cream '. Would that be of any help? von.....and sadly true......
There is a infomercial going around promoting ' Miracle Wrinkle Cream '. Would that be of any help? von.
Well you would think that people drawing out of the fund would be the ones that would vote. I’m guessing the retirees outnumber the people working like in the rest of our funds. Seems as though they didn’t receive a ballot. How could you actually prove if they were sent the ballot or not? It does seem pretty fishy!A number of us are questioning the figures on the pension reduction vote. It appears that more than half of the participants did not vote.
And there was an overwhelming rejection...2 to 1.......by those that did vote....
Under the.....peculiar......rules of the Department of Treasury, it appears our fate is decided by people who don't want to be bothered to....vote.
Seems to be the very antithesis of democracy, don't you think?
And when you run the numbers, it seems rather strange that the total amount of participants minus the actual votes.......
......is within a couple of votes, if you minus the non-voting "yes" votes from the total.....
Hmmmm........almost seems like someone noticed the pension reduction vote was getting shot down 2 to 1,.....and decided to.....make the rest of the ballots "disappear" into yes votes.......
Almost.......
I know for a fact this is a very emotional issue for many. I saw retirees I haven't seen for decades show up at Union meetings to put in their 2 cent's worth.....
So.......it seems a little strange when more than half of our members "didn't vote"....
Especially when those that DID vote,....were voting down the pension reduction.
I already tried the Department of Treasury website for a Freedom Of Information Act on the particulars of this ......vote.
They weren't no help,....didn't have that selection..
Time to brush up my letter-writing skills...
"Inquiring Minds Want To Know......."
I think this may be only the second time , since Red Star shut down in 2004, that I can agree with you on part of your many anti-Teamster posts. But would you call our TENJ pension a ponzi scheme if the congress hadn't screwed things up? Do you remember back in the 80s when we were close to being fully funded? Do you remember that it was congress that passed the laws that would have penalized us for fully or over funding the plan? Not having extra funds set aside for the down years. Having to raise the accrual and assessorial benefits or have any reserves penalized.
Do you remember that congress set the PBGC premiums for the SEPFs and MEPFs? Do you remember when then PBGC Directer Joshua Gotbaum pleaded with congress for a PBGC premium increase? Do you remember that congress approved the increase for the Single Employer Pension Funds but said the Multi Employer Pension Funds were in better shape and didn't need an increase?
In this months AARP Bulletin it says that the PBGC's maximum annual benefit for retirees in failed single employer plans is $67,295. But the PBGC's maximum annual benefit for retirees in failed multiemployer plans is only $12,870. I'd say that congress screwed up the PBGC too.
I agree that the failure of the Teamsters to organize any new LTL freight companies hurt our pension funds. But I put the blame squarely on the lawmakers in congress who wrote the Motor Carrier Act of 1980. Congress deregulated the trucking industry. It wrote the bankruptcy laws that classifies the company's unfunded pension liability as unsecured creditors and we go to the bottom of the list and rarely get paid.................Will you agree that the blame for the failing pension funds or ponzi scheme rests mainly on the congress?
I agree with you 100%. But I think our pensions were doomed back when the deregulated the trucking industry. Back in the 70's and 80's the biggest reason most wanted to join the Teamster union was the pension. Take away the pension and most won't go for a union job. I believe this was part of a plan to take down the unions that was started by the Kennedy's. I even think that when Zollars bought Roadway and then USF it was also something that pushed the government's agenda...That deal should never have happened. Over 100,000 employees at one time and now down to what? 30,000 or so. Slowly but surely it has worked...I have since being retired talked to many non union drivers and told some that all the union companies were hiring. Their answer?? Union pensions are in the crapper...Unions are in the past. Tried to explain that that is what Corporate America wants you to think.
I wrote a long email to my senator here in PA. Sen . Toomey. Back in I think was 2016 the pension issue was added on at the last minute to the budget deal and according to what Toomey told me back then was he had to vote to keep the government open.. But did say it should have been a stand alone issue.. Well now it is and from the last letter I got from him was he is on the committee that will hear it.. So if you know anyone in PA give them a reminder to sends a letter ,a phone call or an e-mail to Toomey.. Or you can do all of the above..
Since she was a senator she probably means a vote in the senate. I guess she doesn't have much faith in the republican majority leader McConnell acting in a bi-partisan manner.This act is doomed, my former Senator said it will never reach a vote, she co sponsored the original bill. A Co sponsor stating it will never reach a vote.. Not too optimistic.
Anyone who actually listened to the ARCB conference call head Judy and Humphrey says there was nothing new on the pension in congress.This act is doomed, my former Senator said it will never reach a vote, she co sponsored the original bill. A Co sponsor stating it will never reach a vote.. Not too optimistic.
Thank you, Brother! Senator Casey is a great guy......quiet,...no flash,.....but he believes in what he says....
And......thanks also for the Central States phone numbers......
They got billions to throw at farmers because of their .......lack of soybean sales to China....
What about our deferred wages that went to pension plans that got wrecked by Wall Street?
Maybe they had a more diverse portfolio of investments. Maybe they have more diverse companies contributing besides freight. I certainly have to agree with canary in blaming Wall Street for CSPF's situationWhy is Western Conference pension in such great shape with the very same "Wall Street"?
Maybe they had a more diverse portfolio of investments. Maybe they have more diverse companies contributing besides freight. I certainly have to agree with canary in blaming Wall Street for CSPF's situation
Who is/was responsible for other funds lack of foresight in not diversifying in other companies besides freight? Not Wall Street. Who is/was responsible for other funds lack of foresight in not diversifying their investment portfolios? Not Wall Street. Seems to me that making "Wall Street" the problem is just ignoring what little our representatives did to insure the viability of our pensions. I've invested in "Wall Street" over the years and done reasonably well. Why couldn't the funds?