30% Cut?? Why do these administrators wait so long to act?

[cosmo1]

Uh, I don't work on cars. I write checks to people who do.

And people who supply parts and work on 1966 Mustangs like their checks to be big.

 

[cosmo1]

I'll take up a donation for a ratchet and A 1/2" socket. You can take apart 3/4 of the car with those.

I might have an old rusty set somewhere around here.

 

[Jkloc420]

Our.

Unions don't run their pensions. They are administered by a Pension Board.

Ironically, in the late 70's/early 80's, our pension was over funded to the point where they had to decide whether to increase our benefits or cut the government a check. They raised our benefits.

There were a lot more union members during that time. With all the jobs disappearing in the united states union membership is going with it. Some think it is right to work. Which you can say some of it is because of that but the truth is there aren't any good jobs to unionize. That is more of an issue then right to work.

 

[Orion inc.]

My plan is to use my 6 weeks of vacation and 2 weeks of personal/sick time when I retire to put a serious dent in to the residual.

I have a customer who is an entrepreneur. He owns many rental properties (I used to live in one of them), a car wash, laundromat and used car lot. He has a 66 Mustang that I have had my eye on for quite some time. That would be a really nice retirement present from me to me.

So your pension gets cut and you're going to sink money into your residual on your Altima lease and buy a classic car that requires a lot of money to upkeep at the level it deserves??


Well good luck with that bad financial move

 

[Orion inc.]

And people who supply parts and work on 1966 Mustangs like their checks to be big.

He'll have to sell the badass condo and sleep in the mustang.

 

[twoweeled]

Unfortunately that's going to happen to many of the pension plans.

I sadly believe that is the truth. And like when a business goes under, or makes a major move - they won't say anything till the very end. We're all in this boat together, and since retires are a minority and carry no political power. We will get hit especially hard. Then when active employee are retired. They will get hit again too.
Again, we cut our own throats.

 

[UpstateNYUPSer(Ret)]

I sadly believe that is the truth. And like when a business goes under, or makes a major move - they won't say anything till the very end. We're all in this boat together, and since retires are a minority and carry no political power. We will get hit especially hard. Then when active employee are retired. They will get hit again too.
Again, we cut our own throats.

Au contraire.

We have known this day was coming for a long time.

To your last point---as far as i know these cuts will be a one time thing. I am losing 20% in 2017. I will not lose any more when I retire in 2018.

 

[twoweeled]

Au contraire.

We have known this day was coming for a long time.

To your last point---as far as i know these cuts will be a one time thing. I am losing 20% in 2017. I will not lose any more when I retire in 2018.

Oh yeah, no doubt many of us have been aware of it. But like companies going under. Confirmation comes the day they hand you your box of stuff from your desk, and walk you out. The denials continue up until that day. Then the ax falls, and upper upper upper management is nowhere to be found, but will later issue statements of total surprise.
Are you telling me, your local told you this was definitely going to happen to you, long ago? I'm betting not.

 

[Brownslave688]

Oh yeah, no doubt many of us have been aware of it. But like companies going under. Confirmation comes the day they hand you your box of stuff from your desk, and walk you out. The denials continue up until that day. Then the ax falls, and upper upper upper management is nowhere to be found, but will later issue statements of total surprise.
Are you telling me, your local told you this was definitely going to happen to you, long ago? I'm betting not.

No he didn't even know it was going to happen.


People on here have been telling him for years this was coming and he wouldn't listen.


My pension will be $5500. We are diverting our raises it'll be fine. Blah blah blah. That's all he spewed for years.


Now all of a sudden he saw it coming. Give me a break.

 

[Orion inc.]

Au contraire.

We have known this day was coming for a long time.

To your last point---as far as i know these cuts will be a one time thing. I am losing 20% in 2017. I will not lose any more when I retire in 2018.

you think that's the case. So did a lot of retirees who are taking cuts. Never say never

 

[UpstateNYUPSer(Ret)]

Oh yeah, no doubt many of us have been aware of it. But like companies going under. Confirmation comes the day they hand you your box of stuff from your desk, and walk you out. The denials continue up until that day. Then the ax falls, and upper upper upper management is nowhere to be found, but will later issue statements of total surprise.
Are you telling me, your local told you this was definitely going to happen to you, long ago? I'm betting not.

We have known about the potential cuts for the last 5-10 years.

 

[twoweeled]

We have known about the potential cuts for the last 5-10 years.

Was that statement explicitly made to you, by your local? Again,
I'm thinking not. When you say, "Potential cuts". Potential is a huge umbrella, but explicit it isn't.
What your voicing now, is along the lines of what the CEO says after the company is made aware of their demise. "We all knew it was coming". But nobody dared to say it!!

 

[IVE GOTTA PACKAGE 4U]

Was that statement explicitly made to you, by your local? Again,
I'm thinking not. When you say, "Potential cuts". Potential is a huge umbrella, but explicit it isn't.
What your voicing now, is along the lines of what the CEO says after the company is made aware of their demise. "We all knew it was coming". But nobody dared to say it!!

He left Brown Cafe, so don't bother

 

[twoweeled]

No he didn't even know it was going to happen.


People on here have been telling him for years this was coming and he wouldn't listen.


My pension will be $5500. We are diverting our raises it'll be fine. Blah blah blah. That's all he spewed for years.


Now all of a sudden he saw it coming. Give me a break.

I sincerely wish the best for him. I get no joy out of any of us losing a part of our pension. I'm sure your of the same belief. But I also gain no comfort from saying; I seen the train that hit me, coming. I don't get it.

 

[twoweeled]

He left Brown Cafe, so don't bother

He'll be back tomorrow.

 

[IVE GOTTA PACKAGE 4U]

He'll be back tomorrow.

We shall see my friend

 

[Brownslave688]

We shall see my friend

He was almost right.