Yellow | Great Day For Teamster Retirees, Present & Future!

Go to central states pension and click the pension calculator and it will break everything down for you.
You have to register gives you everything you need to know.
 
Get back to me when you find the word democratic or democracy in the Constitution. Clue, those words are not there. Not there because democracy doesn't work. Not there because James Madison and his friends knew that we the people are too stupid to self govern. Not there because an 18 year old with a pulse (pulse optional in Democratic states) can't be allowed to determine the future of the country. Not there because in our "republic", a word that is in the Constitution, senators were to be appointed by state assemblies. Judges were to be appointed. Presidents were to be elected by electors appointed by state assemblies. There was to be no direct taxation of the people. Democracy is socialism. Democracy is majority rule and majority rule is unstable government. Government that changes policies, tax rates and regulations with every election. Unstable government that creates an unstable business environment where there is no long term planning or investment. No planning, no investment, no growth, no jobs. Shocker, business is where the jobs are!
Nowhere in the constitution is the word CAPITALISM found , either.
 
You are correct that I am not happy. I don't think the American taxpayer, who promised us nothing, should be bailing out private pension funds. I don't think a 40 year old father of three should pay taxes to provide me with a $20 an hour pension. I don't think I am entitled to the money earned by that father of three if I took no steps during my working years to secure my future. Restoring my pension adds $1050 a month and a $20,000+ check for the 2 years I lost at a 30% reduction. That's great, I like it, but it should not come at the expense of destroying America with more crushing debt or come out of the pockets of taxpayers. Why not just have the government give everyone $3500 a month for life, all 330 million of us?
 
65 year old age restriction so your still screwed.
Your screwed because people at YRC voted, fairly and justly, I susposed, to ACCEPT a 75% pension haircut. I voted no, left for greener pastures. It sucks starting over on the bottom of a board, no doubt. But, if you want to retire with your full service time, that’s a hard personal choice to make. I made it, it’s hard, but I look long, not just till next Thursday. Good luck to you brothers
 
Your screwed because people at YRC voted, fairly and justly, I susposed, to ACCEPT a 75% pension haircut. I voted no, left for greener pastures. It sucks starting over on the bottom of a board, no doubt. But, if you want to retire with your full service time, that’s a hard personal choice to make. I made it, it’s hard, but I look long, not just till next Thursday. Good luck to you brothers
[........
 
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I don't understand your arithmetic.
I assume you mean the $20 an hour.
Before the 30% cut, my 30 year pension was $3500 a month

3500 a month times 12 months = $42,000 per year
42,000 divided by 52 weeks = $807.69 per week
807.69 divided by the 40 hour workweek = $20.19 per hour

After the 30% reduction my hourly is $14.13

I'm told that Central States is less generous than my full Western Pa and is only $3000 a month
That breaks down to $19.36 an hour.
 
You don’t put good money into bad money.The western states trustees will never go for it .Should have happened in 1957 in the beginning.A little too late.
Agreed. We’ve discussed this ad nauseum at our monthly meetings a few times a year. Combining the funds isn’t happening.
 
If you even had been keeping up with what has been going on with the Pensions the last 8 years you would have seen that we have been fighting to save them from cuts and you would not be making such uninformed and asinine replies. Even when the CBO approved the costs of the BLA, they knew that not doing so would cost the economy over $130B a year, and a $86B fix was the cheapest way to avoid it too. The Government screwed up CSPF in 1983 when they took control of it away from the IBT and President Reagan handed it over to 4 Wall St. investment funds and when it crashed in 2007, we lost BILLIONS of retirement, but YET, the TAXPAYER bailed Wall St out and was not made to pay for OUR loses for our Pension Fund that was devastated. There were no checks and balances or oversight committees set up to protect it in 1983. The hearings the RETIREES went to in Washington were to testify to these facts. The Government agreed and STOPPED all Retirees at CSPF from getting a cut and was told by Congress to get it fixed. It has been a LONG 8 years battle, over 11,000 Retirees have passed away not knowing if the spouses would get to keep their share of it. Many who worked hard to fight for it, have died and many others carried on the battle to get it passed. Every time it came close to being kept in the bill the GOP took it out or would not hear it. We finally got it all the way and the Butch Lewis Act 2021 (EPPRA) was passed and ALL Retirees, present and future have their pensions secured WITHOUT any cuts to your earned benefit. THIS is what happens when Teamsters fight for each other! And....NOT ONE GOP SENATOR VOTED TO SAVE YOUR PENSIONS!
Excellent information there, KK...and factual. The Butch Lewis Act had been sitting on ‘The Turtle’s’ desk for HOW LONG??? I hope this is the start of good things to come for the hard-working folks of this country.
 
Question, if I am correct when you retire you can take a smaller amount and then your wife can keep getting your pension if you pass. Anybody know how that's calculated?
That is correct. On my retirement application (Western States) there were 9 different options to select from as to how your payout goes. Three were ‘Participant Only’ plans so they had no bearing on my selection personally. I (we) selected a plan that, upon my death, my wife will receive a lump sum benefit plus a reduced (from my amount) monthly benefit for the rest of her life. Your regions pension office should have some detailed information for you.
 
That is correct. On my retirement application (Western States) there were 9 different options to select from as to how your payout goes. Three were ‘Participant Only’ plans so they had no bearing on my selection personally. I (we) selected a plan that, upon my death, my wife will receive a lump sum benefit plus a reduced (from my amount) monthly benefit for the rest of her life. Your regions pension office should have some detailed information for you.
Thanks, I had no idea there are as many as 9 options!
 
New mission for the good Teamster "Pension Warriors". Go straighten out those Neanderthal Trump supporters at the politics forum. They haven't been Woke yet. Also don't forget to lobby your congressmen for the passage of the PRO act. Don't forget the future of organized labor, now that you are fat, dumb and happy on printed money. We need the teeth of a strengthened ABC law. Especially after the BIDENBAMA administration failed to enforce the present ABC law.
 
What's your point Genius???
Please enlighten me with your jealous b u l l s h i t .

I just found it amusing that a guy with a "don't california my texas" avatar would enthusiastically embrace the nanny state. Being from texas do you think the government should have made the enron employees that lost all of their retirement whole? I just read a story the other day about a former enron employee in his 70's that had $1.3million in his enron 401k and lost it all, had to move out of his house and rent it out and mow lawns to get by.
 
So will the penalty for YRC employees in central states still apply? I read that this bill will restore benefits to 100% of earned benefits. The way I see that is you would take a hit from the years of reduced contributions but not penalized for early retirement
 
So will the penalty for YRC employees in central states still apply? I read that this bill will restore benefits to 100% of earned benefits. The way I see that is you would take a hit from the years of reduced contributions but not penalized for early retirement
IMHO yes below is from the stimulus bill 305(e)(8) is the elimination of adjustable rate benefits like 30 and out for example

“(1) IN GENERAL.—The amount of financial assistance provided to a multiemployer plan eligible for financial assistance under this section shall be such amount required for the plan to pay all benefits due during the period beginning on the date of payment of the special financial assistance payment under this section and ending on the last day of the plan year ending in 2051, with no reduction in a participant’s or beneficiary’s accrued benefit as of the date of enactment of this section, except to the extent of a reduction in accordance with section 305(e)(8) adopted prior to the plan’s application for special financial assistance under this section, and taking into account the reinstatement of benefits required under subsection (k).
 
I’m sorry I know even less about the Western. Here in CSPF full pension was changed and is based on age and not years of service. If you retire before full age there is a penalty for each year you are under 65. This was due to the plan being put on a rehabilitation plan.
Hopefully we can get that penalty withdrawn now that the fund has backing. It won't be easy I'm sure.
 
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