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Yellow | Help for our Pensions still on track !!!

Is it true that if nothing changes, not only will Central States Pension but also the government insurance pension fund will be both out of money in approximately 2026? This would result in zero pension. I ask because I have a VERY close personal friend that is planning on retiring in 26.
 
the5tolls said:
Is it true that if nothing changes, not only will Central States Pension but also the government insurance pension fund will be both out of money in approximately 2026? This would result in zero pension. I ask because I have a VERY close personal friend that is planning on retiring in 26.
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Pension Crisis | Central States Pension Fund

Like many of the nation’s multiemployer pension funds, Central States Pension Fund has become severely underfunded due to a combination of factors.
mycentralstatespension.org mycentralstatespension.org
 
the5tolls said:
Is it true that if nothing changes, not only will Central States Pension but also the government insurance pension fund will be both out of money in approximately 2026? This would result in zero pension. I ask because I have a VERY close personal friend that is planning on retiring in 26.
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If he works for Yellow, he's got to hope they're still in business in 2026 too. Otherwise he'll have to put in a few years at another Central States carrier to get all his years in.
 
Freight Shaker said:
If he works for Yellow, he's got to hope they're still in business in 2026 too. Otherwise he'll have to put in a few years at another Central States carrier to get all his years in.
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That won't do you any good if the pension payments are zero?
 
Freight Shaker said:
Obviously! Um, you already stated that in the post to which I was commenting.
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Than I'm missing your point. If the pension and the government insurance run out of money, why would you go to another Central States Company? I was also reading somewhere that said Central States was classified as self insured and did not meet the qualifications for government insurance on pensions if it did go broke? Anybody got anything on that? One more question, the article said they were paying out 2 billion more than they take in and they only have like 10.5 in the account. So 2025 or 2026 is realistic?
Any thoughts?
 
I listened in to most of the conference call last night with teamster VP John Murphy .. It is at a point that sounds real promising.. Seems any of those that have had their pensions cut will be made whole again..including 707 and upstate New York pensions..
This a post from Facebook

Teamsters Pension Crisis
lt9Spnhornsored ·
Post # 5466
"HOUSE WAYS & MEANS COMMITTEE :: MINORITY FOCUSED "R" MEMBERS"...
"18" REPUBLICAN COMMITTEE MEMBERS Are the Focused "CALL TO ACTION"...
As called for in Remarks given by 'IBT' VP John Murphy on the Monday, February 8, 2021 Announcement and Discussion on the AMERICAN PENSION JUSTICE Conference Call..
GOOD NEWS regarding the 'Reconciliation' process currently moving thru Congress. The EPPRA of 2020, is in its newest incarnation as 'The Butch Lewis Emergency Pension Plan Relief Act of 2021'...
Giving us Absolutely THE BEST CHANCE POSSIBLE for this to be over, Detailed Explanation Coming on Details of the Call.
We are asked, and you will hear lots more very soon, But 'IBT' VP John Murphy, stated that Chairman Richard Neal, in Ways & Mean Committee will be 'Marking Up' the 'BLEPPRA' by Wednesday or Thursday, then it will be Formally Introduced into the 'Reconciliation' Bill, which only needs 51 Votes in the Senate, expected by Mid March, then to pass and go on to the POTUS for his Signature.
NO CUTS, Benefit Reductions under the MPRA will be over, past lost amounts to be repaid in Full...
You Will Know This All Very Shortly, We Are On Track Brothers & Sisters...
****CALL OR EMAIL THESE '18' Republican Minority Members Stating ::: Please Support the 'Butch Lewis Emergency Pension Plan Relief Act of 2021' with NO AMENDMENTS***
I hope you were able to be on the Call tonight and participate in this Wonderful News... If Not WAIT for the News Coming...Officially from the American Pension Justice Team
https://gop-waysandmeans.house.gov/s...ull-committee/
 
Can anybody explain what this would mean for Central States? What is the 5 year part about?
 
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