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Your Pension Plan Benefits May Not Be As Ironclad As You Think

Discussion in 'Central States Pension Fund Discussion' started by Freightmaster1, Sep 11, 2019.

  1. Freightmaster1

    Freightmaster1 Well-Known Member

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  2. canaryinthemine

    canaryinthemine Retirement....The Job I Was Born To Have!

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    Driver Since:
    What a great article! And,...Once again,...time to put pressure on Congress to fully fund PBGC for Multi-Employer Plans,...and push for the Butch Lewis Act.

    Karen Friedman of the non-profit Pension Rights Center....stresses that defined-benefit pensions are..."wages deferred"......and that the Multi-Employer Pension Reform Act,.....was....and I quote: "Misguided.."

    Cutting pension plans wreak havoc on elderly retirees and their families,....at a time in their lives where they no longer have the....physical capacity,.....to make up any shortfall ripped out of their pension by Department of Treasury action......
  3. rtm457

    rtm457 Active Member

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    And yet YRC and the Teamsters conspired to present a contract to its members with no provision for funding our pension. There are some who say the Central States fund is a lost cause. Yet these same people expect to have a pension available to them when retirement age arrives. Already with the previous cuts I am receiving half the pension I should have received, and now some want the government to take over the responsibility of paying our pension which will result in retirees experiencing further cuts. And who in their right mind would think that the government can administer anything that has to do with money? What are the possibilities of YRC paying off Hoffa to get out of the pension funds. Not too far fetched for me to believe. SMH over the fact that this contract was approved without pension provisions.
    canaryinthemine likes this.

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