Republican Senators Introduce New Pension Bill

Same here, 35 years at Roadway, started there in 74 linehaul driver. It was good times for sure.
Started driving for a small airfreight forwarder in Detroit in 1973. Moved to New Mexico in 1981 and was put on full-time at Roadway ABQ in 1982. Retired from Roadway in 2009, six months after the merger with Yellow. Roadway was the best job I ever had.
 
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I had 27 good years at Red Star until Hoffa & Co. pulled us out on that 1 day strike. I was very lucky that ABF hired me at age 57. It gave me 6 more pension years with the 6% bonus.................. But to get back on topic with all the negative comments I am seeing about the Grassley plan I feel that we will all get hurt if it passes as it now stands.
The guys not yet retired will actually get to draw Something if it passes. Theyll get nothing if it doesn't. To ensure All for One, One for ALL- it MUST Pass!!!!
 
The guys not yet retired will actually get to draw Something if it passes. Theyll get nothing if it doesn't. To ensure All for One, One for ALL- it MUST Pass!!!!
Jimmy is Grassley a simple black and white cure? If it is that simple then why so much opposition from major organizations like AARP, AFL-ICO etc? Putting partisan politics aside don't you think there is any room for a compromise plan? Personally I would be very happy with just a 30% cut rather than the 65% cut I am now facing.
 
Jimmy is Grassley a simple black and white cure? If it is that simple then why so much opposition from major organizations like AARP, AFL-ICO etc? Putting partisan politics aside don't you think there is any room for a compromise plan? Personally I would be very happy with just a 30% cut rather than the 65% cut I am now facing.
They oppose it because they want a FULLY FUNDED bailout. And, after what the Miners got, it just may happen that they get one???
 
What happened to all of those Democrats who claimed they were going to help us? Why didn't they add an Amendment to the 2020 Appropriations Bill to help multiemployee plans? Same old garbage all talk no action?
But don't forget to vote for them in the Nov election
 
The proposed numbers for orphans are in it. 56 cents a month times number of years. Up from the now rates of PBGC of 30 cents. Proposed is $1680 a month for 30 years service. $1400 a month for 25 years. Those are cut and dried. The question seems more to be, what about those that are part orphan/part non-orphan.

Try to overlook politics, there will have to be a compromise. The House wont like this, and the Senate will never pass the Butch Lewis Act. To pass, parts will be blended.
$1680 a month for 30 years and then a 10% reduction off of that?
 
It's a whole lot better than zero, IMO.
Very true, but was hoping for any clarification. Any input if the 6% reduction per year would still apply for age under 65. I'm 58 now so a lot can happen between now and 65, been thinking about 62 and getting what I can while there is something to get!
 
Very true, but was hoping for any clarification. Any input if the 6% reduction per year would still apply for age under 65. I'm 58 now so a lot can happen between now and 65, been thinking about 62 and getting what I can while there is something to get!
I actually don’t know. But the way I read it, the orphans get the reductions, and Grassley’s plan implies that those “legacy types”/ non orphans, would be able to receive what was promised? At what age, I have no idea. What happens if we are a mixture of legacy/orphan is also still unanswered.

Washington is tied up in impeachment. I doubt anything happens now until next Fall, at the earliest, when they do budgets again...
 
And let's not forget that Reagan gave the Iranians 12 billion in assets that Jimmy Carter had frozen,.....once the Iranians released the hostages. Twice actually.......12 billion in 1981,....and another 454 million in 1987.........

Wonder how that money was used?

But I agree,.....Not our money to use.....we're not thieves.

But now that I've seen Sen.s' Grassley's and Alexander's Bill,......I'm kind of glad our fund already went through the "adjustment", and we only ......lost.......30% of our pensions. The PBGC was supposed to be fully funded by Congress anyway,......Who decided to only fund the Single Employer side,..and let the Multi-Employer side face bankruptcy in 2025?
 
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