Brother, most individuals in the CSPF will be cheated when the fund closes its doors. And that is going to hurt but I don't think these MEPF are the safest retirement vehicles. Let me break this 50 years of MEPF down a little to illustrate why I disagree with you.
When MEPF's first came into the union the requirement was10 years of service to be vested. What that means is no one took money out of the MEPF for the first 10 years. Money in but none out.
In the second 10 year span most people where not old enough to receive retirement but where looking into the 20 years and out. So no money out the first 10 years, little money out the second 10 years.
In the 3rd 10 year span more employees started retiring and deregulation occurred (very bad for the trucking industry). This is where the flaws in the MEPF started started showing up. Union companies where leaving the industry and non-union non-MEPF companies started growing in the trucking industry. The number of retiring union employees was increasing because of job loss and a lack of new union jobs.
By the 4th 10 year span (this is where I became employed with ABF and a union member) warnings where starting to appear from CSPF and, I assume, other MEPF's. Employees received letters stating that CSPF was going from 2% to 1%, that UPS was trying to buy its way out of the MEPF's, that ABF was saving money and going to try and buy their way out of the MEPF.
In the 5th 10 year span some MEPF's cut retirement benefits, the retirement age was increased, the 20 year and out was eliminated, buying time in the pension funds (for people who where close to retirement) was eliminated and MEPF default notices where common.
We are currently in the 6th 10 year stretch, at least for CSPF, and the fund managers have announced that CSPF and other MEPF's are no longer viable and are issuing termination notices for these funds. The fund managers, the companies, teamsters, the government, and outside financial and accounting firms are saying this experiment is not working for most MEPF's.
I wish us all good luck in retirement and the best for everyone but life is a hard mistress. And if it was easy everyone would do it.