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Nyabf

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I there a way for a terminal to get out of teamster pension.i know all teamsters probily would not go along with this but i want money when i retire not pennys on the dollar like yrc
 
Nyabf said:
I there a way for a terminal to get out of teamster pension.i know all teamsters probily would not go along with this but i want money when i retire not pennys on the dollar like yrc
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I would suggest reading up on what a defined-benefit pension is,....Although there are many entities trying to......eliminate PBGI-backed pensions....and the PBGC itself.....
....(....including the current head of the Treasury Dept.....)....
I think you’ll find there are more protections built into defined-benefit funds.......than any other alternative.

All it would take.....is a change in the current political leadership....and the legal protections of the PBGC would be reinforced.....and maybe the Butch Lewis Act would come off the bottom of that stack of Bills on Mitch McConnel’s desk.....

And then maybe.......defined-benefit pensions would rise to their former level of desirability.......

And maybe the Hoffa regime gets booted out next election.......and the new leadership finally gets serious with YRC....and negotiates a full benefit/full pay contract......and ignores all the “crocodile tears” from YRC management.....

Start fully funding ALL the funds.....

Why get out now? Wait for a few months......Things may change substantially......
Or not.......
 
Nyabf said:
I there a way for a terminal to get out of teamster pension.i know all teamsters probily would not go along with this but i want money when i retire not pennys on the dollar like yrc
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My grandpa always told me there's a few things in this world you will figure out real fast. 1 common sense is not very common anymore 2 as you go through life you will find there is alot of idiots in this world and 3 the only person who will take care of you is you so save your money because when your broke people take advantage of you.
 
Nyabf said:
I there a way for a terminal to get out of teamster pension.i know all teamsters probily would not go along with this but i want money when i retire not pennys on the dollar like yrc
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Saia Motor Freight is the company you need to work at. As luck would have it they are hiring linehaul drivers in most locations. You would be a great fit.
 
canaryinthemine said:
I would suggest reading up on what a defined-benefit pension is,....Although there are many entities trying to......eliminate PBGI-backed pensions....and the PBGC itself.....
....(....including the current head of the Treasury Dept.....)....
I think you’ll find there are more protections built into defined-benefit funds.......than any other alternative.

All it would take.....is a change in the current political leadership....and the legal protections of the PBGC would be reinforced.....and maybe the Butch Lewis Act would come off the bottom of that stack of Bills on Mitch McConnel’s desk.....

And then maybe.......defined-benefit pensions would rise to their former level of desirability.......

And maybe the Hoffa regime gets booted out next election.......and the new leadership finally gets serious with YRC....and negotiates a full benefit/full pay contract......and ignores all the “crocodile tears” from YRC management.....

Start fully funding ALL the funds.....

Why get out now? Wait for a few months......Things may change substantially......
Or not.......
Click to expand...

Yes Biden who supported the Obama 2014 pension bill reform will fix it for you.... That allowed defined benefit pensions to reduce benefits and bankrupted the PBGC.
Stick with socialism it's working great for you?? In the mean time my I suggest the teamsters grow their membership so more workers could contribute to their pensions????

But Democrats have done such a wonderful job on protecting your pensions thus far.

Very smart...
 
Puff Driver said:
Yes Biden who supported the Obama 2014 pension bill reform will fix it for you.... That allowed defined benefit pensions to reduce benefits and bankrupted the PBGC.
Stick with socialism it's working great for you?? In the mean time my I suggest the teamsters grow their membership so more workers could contribute to their pensions????

But Democrats have done such a wonderful job on protecting your pensions thus far.

Very smart...
Click to expand...


You are talking about the Omnibus Spending Bill of 2014,....which bundled a number of individual Bills into an Omnibus. The Bill that allowed pension funds to cut benefits (MPRA) once the Treasury Department had determined that particular fund was in "emergency declining" status,....was buried way back in the Omnibus,.....The Republicans bundled all those Bills deliberately, and threatened a Government shutdown if ALL the Omnibus Bill wasn't accepted at once.....
It was explained to a number of Senators,....and President Obama,...that the MPRA Bill was an "extreme case" provision,...to be rarely used. James Hoffa thought it was a good provision.......The Trustees of the CSPF thought it was a good provision.....

On those recommendations,....and the Republican threat to Hurry Up or we'll shut the Government down.....President Obama accepted ALL the Omnibus Bill.

And almost immediately,....the Republicans pushed for the Treasury Department to re-classify all defined-benefit funds.

A little sneaky....don't you think?

Oh,....and the PBGC is not "bankrupt". There are two sides of the PBGC,....the Single-Employer side,...and the Multi-Employer side.
The Single-Employer side is fully funded, and able to pay pretty much a full replacement monthly payment to any Single-Employer fund that goes bankrupt.....
The Multi-Employer side,.....even though Congress is REQUIRED to fully fund ALL of the PBGC,....has had appropriations held back from distribution ....by Congress. The money is there,....Congress just won't distribute it. Requires Senate final approval.....
Another Bill sitting on that stack on Mitch McConnell's desk.......

I suggest you type in "PBGC fully funded". You will see that there are 34 million people in Single Employer Plans,....and 10 million people in Multi-Employer Funds.....Those are all defined-benefit plans,......There is NO Government protection for defined-contribution, 401(k)-style plans......

Please keep politics off the ABF site........There is a site for Politics.......wear your rubber suit and boots.......
 
canaryinthemine said:
I would suggest reading up on what a defined-benefit pension is,....Although there are many entities trying to......eliminate PBGI-backed pensions....and the PBGC itself.....
....(....including the current head of the Treasury Dept.....)....
I think you’ll find there are more protections built into defined-benefit funds.......than any other alternative.

All it would take.....is a change in the current political leadership....and the legal protections of the PBGC would be reinforced.....and maybe the Butch Lewis Act would come off the bottom of that stack of Bills on Mitch McConnel’s desk.....

And then maybe.......defined-benefit pensions would rise to their former level of desirability.......

And maybe the Hoffa regime gets booted out next election.......and the new leadership finally gets serious with YRC....and negotiates a full benefit/full pay contract......and ignores all the “crocodile tears” from YRC management.....

Start fully funding ALL the funds.....

Why get out now? Wait for a few months......Things may change substantially......
Or not.......
Click to expand...
canaryinthemine said:
You are talking about the Omnibus Spending Bill of 2014,....which bundled a number of individual Bills into an Omnibus. The Bill that allowed pension funds to cut benefits (MPRA) once the Treasury Department had determined that particular fund was in "emergency declining" status,....was buried way back in the Omnibus,.....The Republicans bundled all those Bills deliberately, and threatened a Government shutdown if ALL the Omnibus Bill wasn't accepted at once.....
It was explained to a number of Senators,....and President Obama,...that the MPRA Bill was an "extreme case" provision,...to be rarely used. James Hoffa thought it was a good provision.......The Trustees of the CSPF thought it was a good provision.....

On those recommendations,....and the Republican threat to Hurry Up or we'll shut the Government down.....President Obama accepted ALL the Omnibus Bill.

And almost immediately,....the Republicans pushed for the Treasury Department to re-classify all defined-benefit funds.

A little sneaky....don't you think?

Oh,....and the PBGC is not "bankrupt". There are two sides of the PBGC,....the Single-Employer side,...and the Multi-Employer side.
The Single-Employer side is fully funded, and able to pay pretty much a full replacement monthly payment to any Single-Employer fund that goes bankrupt.....
The Multi-Employer side,.....even though Congress is REQUIRED to fully fund ALL of the PBGC,....has had appropriations held back from distribution ....by Congress. The money is there,....Congress just won't distribute it. Requires Senate final approval.....
Another Bill sitting on that stack on Mitch McConnell's desk.......

I suggest you type in "PBGC fully funded". You will see that there are 34 million people in Single Employer Plans,....and 10 million people in Multi-Employer Funds.....Those are all defined-benefit plans,......There is NO Government protection for defined-contribution, 401(k)-style plans......

Please keep politics off the ABF site........There is a site for Politics.......wear your rubber suit and boots.......
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Did canary mention his pension was cut 30%. If UPS wasn't picking up 58% of the cost of western pa's pension fund, it would be bankrupt. Lot of bull ::shit:: at the ABF forum, not much fact. Says the man from Fort Smith.
 
Bubba Gump said:
Did canary mention his pension was cut 30%. If UPS wasn't picking up 58% of the cost of western pa's pension fund, it would be bankrupt. Lot of bull :::shit::: at the ABF forum, not much fact. Says the man from Fort Smith.
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Even though I am Ignoring you,...I'd thought I'd peek to see if you had something pertinent to say,........

And you don't.........
Western Penna. Teamsters Pension was cut 30%,.........By a vote ( roughly) of 7,000 No Cut,...3,000 Cut,....and 11,000 "No Vote",.......Under the...Peculiar...rules of the Treasury Department ,..a "No Vote"...meaning the member DID NOT vote on pension cuts,.....which counts as a "Yes" for pension cuts.....

Sonofagun!......EVERY Treasury Department administered vote for pension cuts across the Nation,....was decided by the Members WHO DID NOT VOTE!
Or,...at least,....their Vote wasn't recorded.....Apparently Thousands of Union guys didn't Vote on pension cuts....
Enough to decide the outcome of.....EVERY vote.......

Go look at the Treasury Department site,....They have all the Election vote totals.....

Something fishy in Denmark?

Anyway,.....what does my pension cut have to do with the price of Tea in China? The remainder of it is guaranteed by PBGC,...( once Congress gets off it's A**...).....
The remainder is still enough for me to live comfortably.......UPS doesn't look like it's going out of business,...and they're not going to pay a billion dollar unfunded liability ,...for the "privilege" of buying out of Western Penna. Teamsters....ala' CSPF....

The Treasury Department,...to get a vote,....had to accept a 30 year solvency plan...I'll be 96 then......

Where is this "bull" you are claiming on our forum? Are you providing your own supply of the commodity in question?
 
The reason the treasury department makes it impossible to vote down a MPRA application is. They know orphans vote poor sweaty schmuck UPS delivery drivers wallets every time. Do you have empirical evidence to suggest otherwise.
 
Bubba Gump said:
Canary, why does some poor sweaty schmuck UPS delivery driver have to pay for your orphan years.
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I find the term “orphan” to be disingenuous at least......as far as the pension goes.
Every company I worked for had made the proper pension payments for the time I was employed by that company.....

The “orphan” term is a creation implying someone is getting something they don’t deserve, due to an employer’s bankruptcy or insolvency.
Since the contributing employer no longer exists,.......I must be an “orphan”....
Does this mean that the contributions paid on my behalf while I worked for that company are also.....”orphaned”?
Those funds didn’t disappear........and my continued employment with another Multi-Employer contributor.......
......is the very essence of a Multi-Employer plan philosophy of pension protection....

The very reason Multi-Employer plans exist.......

But,.....I guess you’re bored and decided I’d be a good target for your petulance......
And......I made the mistake of thinking you had an ......”adult” .....Opinion for a change.......
Silly me........

I don’t regard UPS drivers as “ sweaty schmucks”.........That may be the fashion way down there in Fort Smith,......to denigrate and insult working people.......
But,....I spent years driving through the Bible Belt......as that section of Arkansas features itself......and I am very familiar with the stench of self-righteous hypocrisy........

Back on the “Ignore” you go.........
 
canaryinthemine said:
I find the term “orphan” to be disingenuous at least......as far as the pension goes.
Every company I worked for had made the proper pension payments for the time I was employed by that company.....

The “orphan” term is a creation implying someone is getting something they don’t deserve, due to an employer’s bankruptcy or insolvency.
Since the contributing employer no longer exists,.......I must be an “orphan”....
Does this mean that the contributions paid on my behalf while I worked for that company are also.....”orphaned”?
Those funds didn’t disappear........and my continued employment with another Multi-Employer contributor.......
......is the very essence of a Multi-Employer plan philosophy of pension protection....

The very reason Multi-Employer plans exist.......

But,.....I guess you’re bored and decided I’d be a good target for your petulance......
And......I made the mistake of thinking you had an ......”adult” .....Opinion for a change.......
Silly me........

I don’t regard UPS drivers as “ sweaty schmucks”.........That may be the fashion way down there in Fort Smith,......to denigrate and insult working people.......
But,....I spent years driving through the Bible Belt......as that section of Arkansas features itself......and I am very familiar with the stench of self-righteous hypocrisy........

Back on the “Ignore” you go.........
Click to expand...
NUCPP's actuarial expert testified the reason CSPF is going bankrupt is. Large retroactive pension increases and employers going bankrupt before they were paid for. You didn't pay in enough, NUCPP expert witness said it, it's got to be true. Can't get any simpler than that. My non Canadian side of the family comes from western PA. We are kin, kanary.
 
canaryinthemine said:
Even though I am Ignoring you,...I'd thought I'd peek to see if you had something pertinent to say,........

And you don't.........
Western Penna. Teamsters Pension was cut 30%,.........By a vote ( roughly) of 7,000 No Cut,...3,000 Cut,....and 11,000 "No Vote",.......Under the...Peculiar...rules of the Treasury Department ,..a "No Vote"...meaning the member DID NOT vote on pension cuts,.....which counts as a "Yes" for pension cuts.....

Sonofagun!......EVERY Treasury Department administered vote for pension cuts across the Nation,....was decided by the Members WHO DID NOT VOTE!
Or,...at least,....their Vote wasn't recorded.....Apparently Thousands of Union guys didn't Vote on pension cuts....
Enough to decide the outcome of.....EVERY vote.......

Go look at the Treasury Department site,....They have all the Election vote totals.....

Something fishy in Denmark?

Anyway,.....what does my pension cut have to do with the price of Tea in China? The remainder of it is guaranteed by PBGC,...( once Congress gets off it's A**...).....
The remainder is still enough for me to live comfortably.......UPS doesn't look like it's going out of business,...and they're not going to pay a billion dollar unfunded liability ,...for the "privilege" of buying out of Western Penna. Teamsters....ala' CSPF....

The Treasury Department,...to get a vote,....had to accept a 30 year solvency plan...I'll be 96 then......

Where is this "bull" you are claiming on our forum? Are you providing your own supply of the commodity in question?
Click to expand...
You put a lot of stock in the power of the vote. Did UPS employees vote themselves out of CSPF?
 
canaryinthemine said:
Even though I am Ignoring you,...I'd thought I'd peek to see if you had something pertinent to say,........

And you don't.........
Western Penna. Teamsters Pension was cut 30%,.........By a vote ( roughly) of 7,000 No Cut,...3,000 Cut,....and 11,000 "No Vote",.......Under the...Peculiar...rules of the Treasury Department ,..a "No Vote"...meaning the member DID NOT vote on pension cuts,.....which counts as a "Yes" for pension cuts.....

Sonofagun!......EVERY Treasury Department administered vote for pension cuts across the Nation,....was decided by the Members WHO DID NOT VOTE!
Or,...at least,....their Vote wasn't recorded.....Apparently Thousands of Union guys didn't Vote on pension cuts....
Enough to decide the outcome of.....EVERY vote.......

Go look at the Treasury Department site,....They have all the Election vote totals.....

Something fishy in Denmark?

Anyway,.....what does my pension cut have to do with the price of Tea in China? The remainder of it is guaranteed by PBGC,...( once Congress gets off it's A**...).....
The remainder is still enough for me to live comfortably.......UPS doesn't look like it's going out of business,...and they're not going to pay a billion dollar unfunded liability ,...for the "privilege" of buying out of Western Penna. Teamsters....ala' CSPF....

The Treasury Department,...to get a vote,....had to accept a 30 year solvency plan...I'll be 96 then......

Where is this "bull" you are claiming on our forum? Are you providing your own supply of the commodity in question?
Click to expand...
Former CSPF UPS employees have had their pensions raised by $800 dollars a month. Was it in their best interest to VOTE themselves out of CSPF?
 
DCM_Doc said:
There is a heavy load on ABF & employees to fund the pension(s).
Click to expand...


Yes it is, Brother.......The IBT could alleviate that heavy load,...by requiring some of that $700 million Federal relief money YRC just got....(...In spite of them only being valued at $70 million.....Imagine that!....).......
....to be paid into the pension funds that YRC has been shorting for the last decade.

And ABF must remember,.......Those pension fund contributions could be equated to part of the wage packet. When I left ABF in 2017,.....they were paying roughly $432 a week in pension contributions....per man. I was the steward,...I got the receipts......

If ArcBest deems it "cheaper" to get out of the pension plans,.....they've got to compensate each employee a comparable amount to the pension contributions. We did negotiate that figure,....they agreed to it,....Anything less would be a....."wage cut"........

Cut "Essential Worker" truck driver wages in the middle of a driver shortage/pandemic? Wouldn't that make upper management seem like....greedy bloodsuckers who could care less about "essential workers",....and more about lining their own pockets?
 
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