slantnosechevy
Well-Known Member
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Attn. 705 Red What's the scoop on 705's Pension Trouble?
- Thread starter slantnosechevy
- Start date
UpstateNYUPSer(Ret)
Well-Known Member
He sent me a very enlightening PM the other day.
UpstateNYUPSer(Ret)
Well-Known Member
Suffice it to say that he brought clarity to an insane situation.
Can you share?
CRASH501
Well-Known Member
you kinda have to assume that there is a reason it was a Private Message
Are you sure it was him?
UpstateNYUPSer(Ret)
Well-Known Member
Good point and one of the reasons I am not posting it here.
slantnosechevy
Well-Known Member
Word from someone in Joint Council 25 is Local 705's Pension is rated "critical". According to him the plan lost over 1 billion due to bad investing. It's total worth is now less than 1 billion. Supposedly they invested heavily in real estate looking for more bang for their buck. What a cluster of idiots for trustees. They're going to have to call in the National Guard because chaos is right around the corner.
What a complete reversal to Local 710 who's pension is worth 2 billion and in the green. Pat Flynn should be president of the International.
What a complete reversal to Local 710 who's pension is worth 2 billion and in the green. Pat Flynn should be president of the International.
Brown to Brown
Well-Known Member
wow, critical? not what i heard
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