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Troubled Teamster Pension Fund Will Be Talk’s Focus

I would hope all the Locals contact as many retirees as they can. Akron isn't too far from Cleveland.
 
The Financial and analytical report on the Health and Welfare Fund (TeamCare) shows that it continues to grow and prosper, building up huge reserves and a growing number of participants, reported as 203,996.

The real question why aren't the 203,996 members in the Health and Welfare Fund not in paying full rate into the pension fund???? The Union gets companies to pay the insurance but not hold employers accountable to pay into the pension fund negotiate it away.
 
Jaloc said:
The Financial and analytical report on the Health and Welfare Fund (TeamCare) shows that it continues to grow and prosper, building up huge reserves and a growing number of participants, reported as 203,996.

The real question why aren't the 203,996 members in the Health and Welfare Fund not in paying full rate into the pension fund???? The Union gets companies to pay the insurance but not hold employers accountable to pay into the pension fund negotiate it away.
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Because the pension fund is unfundable now. Not rocket science, it’s simple math. You would have to be a moron to sign a contract with central states pension fund in it.
 
Jaloc said:
The Financial and analytical report on the Health and Welfare Fund (TeamCare) shows that it continues to grow and prosper, building up huge reserves and a growing number of participants, reported as 203,996.

The real question why aren't the 203,996 members in the Health and Welfare Fund not in paying full rate into the pension fund???? The Union gets companies to pay the insurance but not hold employers accountable to pay into the pension fund negotiate it away.
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Because there are 410,000 eligible to eventually collect the pension, not 203,996.
 
SAC75 said:
Because the pension fund is unfundable now. Not rocket science, it’s simple math. You would have to be a moron to sign a contract with central states pension fund in it.
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Well then how are you supposed to fund the pension without more members paying into it I don't think there will be a government bailout?
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Jaloc said:
203,996 in the health and welfare fund still working should be paying into the pension!
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If they are still working, their negotiated contract has their negotiated employers paying what was agreed too- even tho the CSPF will go broke before they have a chance to collect it. The problem is math. Half the members collecting now worked for companies that are long long gone. Can't get blood from a turnip.
 
Jaloc said:
Well then how are you supposed to fund the pension without more members paying into it I don't think there will be a government bailout?
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I don’t think there will be a bailout either. If you were in a place trying to unionize would you want CSPF? If you say yes you are lying. No one in their right mind would put themselves or their company in this destitute fund.
 
SAC75 said:
I don’t think there will be a bailout either. If you were in a place trying to unionize would you want CSPF? If you say yes you are lying. No one in their right mind would put themselves or their company in this destitute fund.
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A Win-Win for the employers,..it looks like.

Sad.....The Union pensions used to be the premiere reason to...organize.
 
canaryinthemine said:
A Win-Win for the employers,..it looks like.

Sad.....The Union pensions used to be the premiere reason to...organize.
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The only reason I started was the pension and the healthcare. Wish I would have started a 401k long before I did. I probably won’t see a dime and I’m almost 20 years deep in this mess.
 
The mess was created.....it wasn't an inevitable result......Certain groups had to....push it along....

It can be fixed........if those same certain groups think they would...benefit in some way,...from a healthy defined-benefit fund.

Shame,.......Defined-benefit funds are supposed to be insured by the Government...PBGC,...Properly funded.....so that the working person doesn't get hurt by the ups and downs of the stock market.....

Defined-contribution funds,....by their very definition,...are subject to the vagaries of the market....."let the Buyer beware".......No Government protection......

Who benefits by the vast majority of Private sector workers being left with only one choice for...retirement?
And,.....Why are Government and Public Service employees still primarily in defined-benefit plans?.....I mean,....if 401(k)'s are supposedly the...."best"?

Good for the Goose and Gander?
 
canaryinthemine said:
A Win-Win for the employers,..it looks like.

Sad.....The Union pensions used to be the premiere reason to...organize.
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I disagree, reading about organized labor in the 20s and 30s, a pension is a nice bonus, but a lot of those guys were sick of day to day piece meal work, no dedicated pay setup, no basic work rules. Imo, you are putting the chicken before the egg....

Look at old dominion, their guys gave up on the unemployment insurance that the company is supposed to pay for. They get slow at od, you get "economically terminated". Nevermind recall rights, they take your unemployment, and expect you to go along with it.

Just another "extravagance" of union employment, like h&w paid, pensions, recall rights with layoffs, overtime after 8, work rules, etc.....
 
buffalobill said:
I disagree, reading about organized labor in the 20s and 30s, a pension is a nice bonus, but a lot of those guys were sick of day to day piece meal work, no dedicated pay setup, no basic work rules. Imo, you are putting the chicken before the egg....

Look at old dominion, their guys gave up on the unemployment insurance that the company is supposed to pay for. They get slow at od, you get "economically terminated". Nevermind recall rights, they take your unemployment, and expect you to go along with it.

Just another "extravagance" of union employment, like h&w paid, pensions, recall rights with layoffs, overtime after 8, work rules, etc.....
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The reason I said pensions...defined-benefit pensions......were the "premiere" reason to join a Union company,....was the negotiated items that you stated,....all had a history behind them. Including pensions.

I guess you could say I was putting the...chicken before the egg......But, in an historical context,.....in the last few decades,...where Union stability existed(..when,..) the benefits you mentioned had been fought and decided,...and pretty much established as standard practice. Even most of the non-Unions had to adopt those...."distasteful practices",....like work rules, and standardized pay....Health care(..of sorts..)...just to remain competitive in the Labor market.

By the time the '80's-'90's had occurred,....it was evident that MEPFs were the defining factor in the difference between Union and non-union employers.......It seems that defined-benefit pensions were a "bridge too far" for most of the nons...

We both probably have differing opinions on how and why the corporate attack on MEPFs happened.......But, it's a fact that they did attack defined-benefit MEPFs........at least in the private sector.....
MEPF defined-benefit funds seem to flourish in the public sector,....including Congress....(FERS).

But,.....since 2001,...a combination of market conditions, lobbyist's efforts, corporate manipulation of Labor markets, Wall Street manipulation of money markets,.....and, let's not forget,.......the bumbling and misguided efforts of our so-called "leaders" in our own Union....
...have conspired to destroy MEPFs.........the largest blocks of what WSJ editorials have called "unregulated stocks".......meaning stocks controlled by Trustees answerable to Union rank-and-file.....Half of the Trustees, anyway.

The stock market has risen 145% under President Obama's 8 years,...and 45% under President Trumps 3 years,......Why haven't MEPFs profited from this unprecedented rise?

Since the publicity of MEPFs has been portrayed as.."failing"....by most of the media,.....the Labor pool has shrugged their collective shoulders,...and said: "I guess there's no difference in Union and non-Union employers...at least as far as long-term pensions go..."
I know I bent Heaven and Earth to get back into a MEPF participating employer....JUST for the pension..... after I'd worked non-Union,...and was an O/O. It was the deciding factor for me, at least.....
But that was back in the '90's......
 
canaryinthemine said:
The reason I said pensions...defined-benefit pensions......were the "premiere" reason to join a Union company,....was the negotiated items that you stated,....all had a history behind them. Including pensions.

I guess you could say I was putting the...chicken before the egg......But, in an historical context,.....in the last few decades,...where Union stability existed(..when,..) the benefits you mentioned had been fought and decided,...and pretty much established as standard practice. Even most of the non-Unions had to adopt those...."distasteful practices",....like work rules, and standardized pay....Health care(..of sorts..)...just to remain competitive in the Labor market.

By the time the '80's-'90's had occurred,....it was evident that MEPFs were the defining factor in the difference between Union and non-union employers.......It seems that defined-benefit pensions were a "bridge too far" for most of the nons...

We both probably have differing opinions on how and why the corporate attack on MEPFs happened.......But, it's a fact that they did attack defined-benefit MEPFs........at least in the private sector.....
MEPF defined-benefit funds seem to flourish in the public sector,....including Congress....(FERS).

But,.....since 2001,...a combination of market conditions, lobbyist's efforts, corporate manipulation of Labor markets, Wall Street manipulation of money markets,.....and, let's not forget,.......the bumbling and misguided efforts of our so-called "leaders" in our own Union....
...have conspired to destroy MEPFs.........the largest blocks of what WSJ editorials have called "unregulated stocks".......meaning stocks controlled by Trustees answerable to Union rank-and-file.....Half of the Trustees, anyway.

The stock market has risen 145% under President Obama's 8 years,...and 45% under President Trumps 3 years,......Why haven't MEPFs profited from this unprecedented rise?

Since the publicity of MEPFs has been portrayed as.."failing"....by most of the media,.....the Labor pool has shrugged their collective shoulders,...and said: "I guess there's no difference in Union and non-Union employers...at least as far as long-term pensions go..."
I know I bent Heaven and Earth to get back into a MEPF participating employer....JUST for the pension..... after I'd worked non-Union,...and was an O/O. It was the deciding factor for me, at least.....
But that was back in the '90's......
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I don't disagree with anything you said.
 
canaryinthemine said:
We’ve always been on the same side,.....by virtue of having to sweat and get dirty for a paycheck.....
We just see different ways to accomplish our means......

And......as always......I can respect that...
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Dammit Canary , that’s the smartest thing I’ve ever seen you write , and your pretty damn smart . Thanks for making me think . That’s the best thing all of us involved in this mess can do .
 
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