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Brown Cafe UPS Forum
UPS Union Issues
Another example of Central States mismanagement
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<blockquote data-quote="JonFrum" data-source="post: 217783"><p><strong>Re: Central States: 63% Funded, And Rising; Not 47% And Falling Toward Zero</strong></p><p></p><p></p><p></p><p>The New England Teamsters and Trucking Industry Pension Fund is a smaller fund than Central States, but is about as poorly funded. We lost money in 2000-2002 as well, (as did nearly everyone), and our benefits were cut too. We have to wait at least until age 57 to retire. But we don't have the extra problem of having so many more retirees than active members as Central States does, so our cuts weren't as painful.</p><p>Visit <a href="http://www.nettipf.com" target="_blank">http://www.nettipf.com</a></p><p>Click on the Slideshow to see the Trustees' explanation of the problem.</p><p></p><p>Visit FreeERISAdotCom and search for the New England fund's Annual Reports (Form 5500) using :</p><p>Name Contains: Industry</p><p>Limit Zip Code to: 01803</p><p><a href="http://freeerisa.benefitspro.com/" target="_blank">http://www.freeerisa.com</a></p><p>It's free, but you do have to register.</p></blockquote><p></p>
[QUOTE="JonFrum, post: 217783"] [B]Re: Central States: 63% Funded, And Rising; Not 47% And Falling Toward Zero[/B] The New England Teamsters and Trucking Industry Pension Fund is a smaller fund than Central States, but is about as poorly funded. We lost money in 2000-2002 as well, (as did nearly everyone), and our benefits were cut too. We have to wait at least until age 57 to retire. But we don't have the extra problem of having so many more retirees than active members as Central States does, so our cuts weren't as painful. Visit [url]http://www.nettipf.com[/url] Click on the Slideshow to see the Trustees' explanation of the problem. Visit FreeERISAdotCom and search for the New England fund's Annual Reports (Form 5500) using : Name Contains: Industry Limit Zip Code to: 01803 [URL='http://freeerisa.benefitspro.com/']http://www.freeerisa.com[/URL] It's free, but you do have to register. [/QUOTE]
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Another example of Central States mismanagement
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