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Someone Explain This To Me

Discussion in 'Central States Pension Fund Discussion' started by Dracula, Jul 12, 2019.

  1. jimmy g

    jimmy g Kook

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    Paying more in would be a waste. The CSPF has been on the road to failure since the mid 1970s, when the IRS regulated not allowing over funding. It would take another $30 billion or so to keep the fund going. Only the Government can do that, and only by printing imaginary dollars.
     
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  2. Puff Driver

    Puff Driver Active Member

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    More importantly the teamsters sat & watched as companies shut down and the number of members contributing to the pension became lower than the numbers or retirees pulling $$$ out of the funds.
    A third grader would know that is a recipe for disaster... only a matter of time...
    Pensions are Ponzi schemes, as long as there are more people putting $$$ in than taking out, it is fine... When that formula changes, checkmate...
     
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  3. Elwood

    Elwood Question Authority

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    Be mad at those enrolled in failing funds. My pension has been set in stone since June of 09. I don’t want YRC to resume those contributions at full or even a higher rate. I much prefer those monies be contributed to my 401k. Then the $$ is mine and my family’s after my demise.
     
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  4. mud

    mud Wonderin' AD-FREE USER

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    Why should we be mad at those enrolled in failing funds??
     
  5. Elwood

    Elwood Question Authority

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    If one were to be ‘mad,’ why be ‘mad’ at successful funds?

    I’m not. I’m suggesting he should focus his anger at the appropriate soure.
     
  6. muddog

    muddog Active Member

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    Regardless of anyone’s political affiliation, I don’t care how we get it, we all earned it. I got 25 in, I want mine, I earned it. We all did..
     
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  7. Dracula

    Dracula Well-Known Member

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    It's not a question of did you play by the rules and earn it. The question is who promised it to you?
     
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  8. Roadway spy

    Roadway spy Active Member

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    They have robbed Peter to pay Paul that’s what they do. You’ll get nothing.
     
  9. rtm457

    rtm457 Active Member

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    Whatever you think. There was never enough paid in from one individual to cover the cost of one individuals retirement. The pension was a pyramid scheme from the beginning. I never said anybody owed me anything. It's just ignorant that people would vote for a contract with no pension provisions yet expect to receive a pension.
     
  10. SAC75

    SAC75 Well-Known Member

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    If the government didn’t double the pension payout to retirees there would’ve been enough money to cover everyone. They wrote laws that you couldn’t be over 100% funded so they could double their tax collections from pension holders. That’s what I’m explaining to you. I work for ABF. So I didn’t vote anything in to cut pension payments. I would sooner have the money in a 401(k). At least I can see some of the 375 dollars or so a week ABF is throwing into a bottomless pit.
     
    Last edited: Jul 18, 2019
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  11. jimmy g

    jimmy g Kook

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    No one not yet retired expects to receive a CSPF Pension. No amount of money that YRCW can pay would save it. How many more times do you have to hear that????
     
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  12. muddog

    muddog Active Member

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    Although you are probably correct, I’d love nothing more than to see you eat crow on that statement
     
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  13. jimmy g

    jimmy g Kook

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    I'd love to be wrong. I'm in that fund, and haven't started drawing.
     
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  14. dokman

    dokman Well-Known Member

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    Wrong, 150 a week for 30 years at 6 % growth would give you 3200 a month for 35 years.
    To many fees and too much stupidity put us where we are at.
     

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