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Yellow | Will we know January 19?

jimmy g said:
The IRS disallowed over funding about that time. They were greedy, saw no one paying taxes on it, and demanded their share of the pie. Ordered overfunded pensions to either lower the employer funding of the plan, or increase payouts. That's when CSPF started 25 and out at any age, and 30 and out at any age. I know guys that took $3,000 @ month at age 48. Thats unsustainable.
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Jimmy, everything you said is true. But the crisis is not the fault of the funds, the Teamsters or the employers. The responsibility rests squarely with the federal government.
 
albag said:
Jimmy, everything you said is true. But the crisis is not the fault of the funds, the Teamsters or the employers. The responsibility rests squarely with the federal government.
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You know I'm no fan of Governent... why is it the RESPONSIBILITY of Government to pay Anything, other than Defense ( a Constitutional Dut?????

Who is at fault now is not a matter. Now it's pure math. Twice the amount of promises, half the amount of dollars.....
 
jimmy g said:
You know I'm no fan of Governent... why is it the RESPONSIBILITY of Government to pay Anything, other than Defense ( a Constitutional Dut?????

Who is at fault now is not a matter. Now it's pure math. Twice the amount of promises, half the amount of dollars.....
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You misunderstood. What I meant was the Federal Government made the rules, that contributed to the problems with Multi-Employer pensions.
 
albag said:
You misunderstood. What I meant was the Federal Government made the rules, that contributed to the problems with Multi-Employer pensions.
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I posted that. Were talking past each other.

You see the MEPRA reform act, while I see the greedy IRS, and still others blame the Feds for Oversight. What matters, to me is- the Fund had enough, maybe even was overfunded, until the IRS disallowed it...
 
seabreeze said:
No argument here, plus PIE paid in on me 35yrs , actually 33yrs, we didn't go union till 57.
Just curious, AmI being faulted for drawing this check?
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You are doing nothing wrong collecting your Teamster pension. You earned it and should enjoy it.
It's just the I don't want any of my money going to someone else's retirement conservative mentality that when gets out of check needs to be reigned in with reality.

Lets face it, the company you worked for which paid into cspf, has long been defunct. It's also safe to say that for the last 20 years your pension has been funded by Teamsters who most likely will never see that same pension.
 
wtfteamster said:
You are doing nothing wrong collecting your Teamster pension. You earned it and should enjoy it.,
It's just the I don't want any of my money going to someone else's retirement conservative mentality that when gets out of check needs to be reigned in with reality.

Lets face it, the company you worked for which paid into cspf, has long been defunct. It's also safe to say that for the last 20 years your pension has been funded by Teamsters who most likely will never see that same pension.
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I can see you not wanting to pay for someone's pension, I'm sure you also know if not for those defunct companies
enployees trade offs and concessions more than 30 years ago, they probably wouldn"t be any pensions,
they didn't just happen.
As for the condition of todays funds, you can blame it on the government and poor management, not the employees.
 
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