Central States Assets Fall – But Relief is Coming!

There is no cap on this payment, no requirements for repayment
In other words, the American taxpayer is getting hosed for 80+ billion dollars because the unions sold their union workers an unsecured pension ponzi scheme.
 
There is no cap on this payment, no requirements for repayment
In other words, the American taxpayer is getting hosed for 80+ billion dollars because the unions sold their union workers an unsecured pension ponzi scheme.

Down a half billion in 1 quarter? WTF
 
When I resigned Yellow in 2009 CSPF had $24.5 billion....
That was also when the housing market crashed, most companies had major layoffs, our government labeled this time in history as "the great recession", and most people who could retire did retire. So it might be appropriate to also compare the number of retirees from 1998 to 2009 to 2020. To put the overall health of CSPF in perspective. In my opinion.
 
The fund lost 8 BILLION in 2008 under 'government oversight'. It is scary to think what that figure would be if Northern Capital, Goldman & Sachs & our government had not been looking out for us.
The Mob never would have let it lose that much money. It's so disgusting the 6 Billion UPS paid into the fund poof its gone!

 
That was also when the housing market crashed, most companies had major layoffs, our government labeled this time in history as "the great recession", and most people who could retire did retire. So it might be appropriate to also compare the number of retirees from 1998 to 2009 to 2020. To put the overall health of CSPF in perspective. In my opinion.
Yes, and the market crashed and CSPF was heavily positioned in stocks. They changed the portfolio and not the market has more than tripled and the portfolio is not heavy in stocks and is well-diversified and that is why the Fund had not increased a lot due to investments.
 
Yes, and the market crashed and CSPF was heavily positioned in stocks. They changed the portfolio and not the market has more than tripled and the portfolio is not heavy in stocks and is well-diversified and that is why the Fund had not increased a lot due to investments.

Good job! :lmao:
 
The fund lost 8 BILLION in 2008 under 'government oversight'. It is scary to think what that figure would be if Northern Capital, Goldman & Sachs & our government had not been looking out for us.
My 401k account grew substantially after the crash, it recovered fully and doubled during the Trump years.
Something is seriously wrong with this teamster pension if it did not grow after the crash
The Democrats such as Phil Murphy & Jon Corzine that ran Goldman Sachs made billons for their customers, except for union pensions?????
 
Fund management is the problem with the CSPF, Imo.
When you have a defined benefit as does CSPF and you have so many other variables such as, total contributions, total number of retirees vs total workers, earlier retirement, longer life span and market fluctuations, and not to mention some poor investments along the way, it is next to impossible for it to be self sustaining. The CSPF also was hardest hit with the amount of drivers paying in as Midwest was the industrial capital of the country and loss of jobs to foreign companies.
 
My 401k account grew substantially after the crash, it recovered fully and doubled during the Trump years.
Something is seriously wrong with this teamster pension if it did not grow after the crash
The Democrats such as Phil Murphy & Jon Corzine that ran Goldman Sachs made billons for their customers, except for union pensions?????
Maybe if you read the posts immediately above yours you would know some of the answers....apparently Goldman Sachs isn't just a Democrat thing..... https://www.reuters.com/article/us-usa-election-goldman-insight-idUSKCN0UZ1BD
 
Yes, and the market crashed and CSPF was heavily positioned in stocks. They changed the portfolio and not the market has more than tripled and the portfolio is not heavy in stocks and is well-diversified and that is why the Fund had not increased a lot due to investments.
KK, I disagree that CSPF is a well-diversified portfolio. I believe it is to heavily weighted in bonds and U.S. treasuries. But your point is well made, that CSPF changed its portfolio from stocks to more secure assets that have lower returns. Almost like an individual does when they know they are not going to live many more years and want to make sure their money lasts through their life and not much longer!
 
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