Before it's too late!

[By The Book]

Is it possible to get this changed? My thoughts are if there are extra funds available in dues could we subsidize a fund in desperate need?

I hope they don't wait until things do fail, before they act. We all need to be more proactive in our locals. After all it's just our nestegg.

 

[710 steward]

I hope they don't wait until things do fail, before they act. We all need to be more proactive in our locals. After all it's just our nestegg.

My friend, don't let the 60 somethings in charge hear you say that. That's THEIR money to control.

 

[Irishman Collins]

The Central States Pension fund has a ratio of 1:4.... Of active participants, to retirees.

Last I recall, they need a (consistent) return of 8% just to meet current obligations.



-Bug-

That is a very serious situation. It's so hard to believe knowing the history of the fund. I believe the future of the fund is very bleak and it deeply saddens me. So many members busting their asses and working so hard year after year only in the end to get just a small percentage of what they should be getting. We need a dynamic, powerful, gifted leader to lift this Union from its knees. Granted, I know Jimmy doesn't have much to do with the funds failure but we need a leader who can get across to all working men and women before it's too late.

 

[O/C]

Quick fix: combine ALL of the teamster controlled pension funds into one retirement plan..pay everybody a fair benefit with a reasonable retirement age. Saying that it will never happen..Way too much money to be made with managing these separate pension plans..

Besides the members that currently have a better benefit will not be willing to sacrifice anything to help another brother..the way things are..hate to say it.

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[BigUnionGuy]

Granted, I know Jimmy doesn't have much to do with the funds failure

That's what cracks me up.

When people say "Hoffa" has mismanaged Central States.

Or, the "Union" has mismanaged the fund.


Not even the trustees.... "manage" the fund.


"They note that Central States is the only major private pension fund where all the discretionary investment decisions are made by financial firms rather than by the fund’s board."

http://www.ibtimes.com/pension-fund-run-wall-street-cited-push-cut-retiree-benefits-1748439


Most people calling for change, are unaware of this.

Some, want change.... just for the sake of change. That's dangerous.


The attitude of "we should give others a chance" is simply beyond, ill-conceived.



-Bug-

 

[710 steward]

That's what cracks me up.

When people say "Hoffa" has mismanaged Central States.

Or, the "Union" has mismanaged the fund.


Not even the trustees.... "manage" the fund.


"They note that Central States is the only major private pension fund where all the discretionary investment decisions are made by financial firms rather than by the fund’s board."

http://www.ibtimes.com/pension-fund-run-wall-street-cited-push-cut-retiree-benefits-1748439


Most people calling for change, are unaware of this.

Some, want change.... just for the sake of change. That's dangerous.


The attitude of "we should give others a chance" is simply beyond, ill-conceived.



-Bug-

Not true. Sure the guy that takes orders at the burger place isn't qualified. Electing an official(s) to scrap the current failed system is realistic. The current situation happened under Hoffa Jr. He is the leader and it is his job to make sure the current state was avoided. He didn't take ANY measures to do so. That is all on him and those within his administration. Proactive is always better than reactive. Every time.

 

[Irishman Collins]

That's what cracks me up.

When people say "Hoffa" has mismanaged Central States.

Or, the "Union" has mismanaged the fund.


Not even the trustees.... "manage" the fund.


"They note that Central States is the only major private pension fund where all the discretionary investment decisions are made by financial firms rather than by the fund’s board."

http://www.ibtimes.com/pension-fund-run-wall-street-cited-push-cut-retiree-benefits-1748439


Most people calling for change, are unaware of this.

Some, want change.... just for the sake of change. That's dangerous.


The attitude of "we should give others a chance" is simply beyond, ill-conceived.



-Bug-

Note, I said I know Jimmy doesn't have much to do with the funds failures. We need change for all the failures that Jimmy and the crew are directly responsible for.

 

[710 steward]

Quick fix: combine ALL of the teamster controlled pension funds into one retirement plan..pay everybody a fair benefit with a reasonable retirement age. Saying that it will never happen..Way too much money to be made with managing these separate pension plans..

Besides the members that currently have a better benefit will not be willing to sacrifice anything to help another brother..the way things are..hate to say it.

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What seems fair to you doesn't mean the people next to you agree. There are already proposed cuts for the fund to help the bleeding. Whether or not we agree this is fair or unfair isn't an issue. They have a law to back any potential cuts. Allowing those still able to find work in the field should be allowed to supplement their income. Whether they go back full time or part time. I would rather propose those folks that begin to drive again pay $15 a week to the Teamsters to be allowed to collect but still drive. That money could then be used to fund the systems that need the extra. Same goes for those of us contributing to DRIVE. We could allocate those funds into under funded systems just like a charity. I get that these ideas may be pennies on the dollar but it needs to start somewhere.

 

[Ron Carey lives on]

He is completely out of touch with Ups members. He has systematically reversed every acheived in 97. Ups owns Hoffa period

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[710 steward]

He is completely out of touch with Ups members. He has systematically reversed every acheived in 97. Ups owns Hoffa period

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The Teamsters don't just serve UPS Teamsters. Ron Carey led us to a month long strike that was settled when UPS gave up on a mutually controlled single employer pension strictly for UPS employees. The one term of Ron Carey was unspectacular albeit not the failure that Hoffa is and will be historically. We've settled for mediocrity or less for 20 years.

 

[Irishman Collins]

Note, I said I know Jimmy doesn't have much to do with the funds failures. We need change for all the failures that Jimmy and the crew are directly responsible for.

Bug, even though I know deregulation and bad company decisions by freight companies such as Roadway and Yellow freight contributed greatly to the demise of the fund. Let's keep in mind that Mr.Hoffa and his administration allowed U.P.S. to get out of the Central States Pension fund therfore contributing to the economic situation the fund finds itself in. In addition, do you think it was the right thing to do, allowing U.P.S. out knowing that it would continue to effect our hardworking brothers and sisters of freight? Please, just face the facts, Mr. Hoffa sold U.P.S. members and Freight members down the river. Intentionally or unintentionally, it doesn't matter. The fact is, the fund will never recover and it will negatively impact U.P.Sers and Freight members in the future.

 

[Mike hunt]

That's what cracks me up.

When people say "Hoffa" has mismanaged Central States.

Or, the "Union" has mismanaged the fund.


Not even the trustees.... "manage" the fund.


"They note that Central States is the only major private pension fund where all the discretionary investment decisions are made by financial firms rather than by the fund’s board."

http://www.ibtimes.com/pension-fund-run-wall-street-cited-push-cut-retiree-benefits-1748439


Most people calling for change, are unaware of this.

Some, want change.... just for the sake of change. That's dangerous.


The attitude of "we should give others a chance" is simply beyond, ill-conceived.



-Bug-

We did a change once with Obama

 

[Mike hunt]

Bug, even though I know deregulation and bad company decisions by freight companies such as Roadway and Yellow freight contributed greatly to the demise of the fund. Let's keep in mind that Mr.Hoffa and his administration allowed U.P.S. to get out of the Central States Pension fund therfore contributing to the economic situation the fund finds itself in. In addition, do you think it was the right thing to do, allowing U.P.S. out knowing that it would continue to effect our hardworking brothers and sisters of freight? Please, just face the facts, Mr. Hoffa sold U.P.S. members and Freight members down the river. Intentionally or unintentionally, it doesn't matter. The fact is, the fund will never recover and it will negatively impact U.P.Sers and Freight members in the future.

In your honest opinion do you wish we were still in the central states pension fund.

 

[Bubblehead]

That's what cracks me up.
When people say "Hoffa" has mismanaged Central States.
Or, the "Union" has mismanaged the fund.
Not even the trustees.... "manage" the fund.

"They note that Central States is the only major private pension fund where all the discretionary investment decisions are made by financial firms rather than by the fund’s board."

Which financial firm negotiated UPS, the lone "cash cow", out of the fund?

Most people calling for change, are unaware of this.
Some, want change.... just for the sake of change. That's dangerous.
The attitude of "we should give others a chance" is simply beyond, ill-conceived.

Equally, if not more dangerous, is to continue to maintain the status quo in the face of continued failure.

 

[Bubblehead]

In your honest opinion do you wish we were still in the central states pension fund.

As long as I am a Teamster, yes.
The mentality you suggest would have UPSer's forming their own union, a move I find hard to sanction.

 

[Mike hunt]

As long as I am a Teamster, yes.
The mentality you suggest would have UPSer's forming their own union, a move I find hard to sanction.

Kinda like that APPA thing that someone tried to organize a while back. It's not a mentality I'm suggesting more trying to find answers. I don't know what I honestly would want. Knowing that the fund is so bad off I don't want to be in it but I have so many years vested in central states. It's kinda scary when you think how your pension will be all split up once you reach 65. The thought of ups being maybe able to go back on their word and not have to pay it at a later date is very alarming.

 

[Bubblehead]

Kinda like that APPA thing that someone tried to organize a while back. It's not a mentality I'm suggesting more trying to find answers. I don't know what I honestly would want. Knowing that the fund is so bad off I don't want to be in it but I have so many years vested in central states. It's kinda scary when you think how your pension will be all split up once you reach 65. The thought of ups being maybe able to go back on their word and not have to pay it at a later date is very alarming.

APWA?
Yes, it's very scary.
How many more contracts before UPS "negotiates" their way out of guaranteeing our pension?
I suspect they have a plan to do just that.

In a union, it's supposed to be about more than just "me".

 

[Mike hunt]

APWA?
Yes, it's very scary.
How many more contracts before UPS "negotiates" their way out of guaranteeing our pension?
I suspect they have a plan to do just that.

In a union, it's supposed to be about more than just "me".

APWA that's it. I predict two more contracts and their liability is gone. Then what will we do.

 

[Irishman Collins]

In your honest opinion do you wish we were still in the central states pension fund.

No, I am glad we aren't but the decision to take us out was against everything a Teamster should stand for. We are strong as a cohesive group but to divide us only weakens our once great Union. The decision to take us out may of benefited us but hurt thousands of our Brothers and Sisters.

 

[Ron Carey lives on]

The strike was 15 days, 10,000 new full time jobs were created. My total wage increase was 5.50 for 5 years. Ron Carey sold the private jets, dropped his own salary, and lowered dues.

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