Central States Pension Cut to be Announced Next Week!!!!!!

[Brownslave688]

Nope.

The active money coming in is not supposed to pay for current retirees.

They are in trouble because too many employers went out of business owing the fund billions.

They guaranteed 30 and out at $3000 when they did not have the funds for it.

The stock market took a dump.

Mis-management.

You name it, but it is not because there are not enough people paying into it.

That would be what? .......

A ponzi scheme.

Pensions are a Ponzi scheme.

 

[IVE GOTTA PACKAGE 4U]

Some community organizer from Ken....uh.....Chicago. I heard he caught Osama Bin laden single handedly.

I didn't vote for him. Don't blame me.

 

[Brownslave688]

There is not enough money coming in and too much going out. There is not enough people paying in.

Which is why I hate pensions.


Current contributions should have no baring at all on current retirees.

 

[Overpaid Union Thug]

I didn't vote for him. Don't blame me.

I thought you voted for "Deez Nuts"???

 

[oldngray]

Pensions are a Ponzi scheme.

Most are but they don't have to be set up that way. When they do it is easier for the crooks to skim their graft off the top.

 

[IVE GOTTA PACKAGE 4U]

I thought you voted for "Deez Nuts"???

Nope.

 

[Brownslave688]

Most are but they don't have to be set up that way. When they do it is easier for the crooks to skim their graft off the top.

Exactly. They shouldn't be but they are.


I think it's a matter of skimming off the top and past employees being over promised.

 

[Overpaid Union Thug]

Nope.

You should have. Just be glad you stayed away from his liberal brother "Rayzon Sax".

 

[Evil]

The Central States Pension Fund officials next week plan to announce cuts to retirees and future retires. The cuts will be drastic for over 200,000 current retirees who are expected to take cuts of 30% to 40%.

The Central States also has 200,000+ active participants that will be affected by the cuts. What percentage of these will vote for Hoffa in 2016? Will these angry 200,000 non-UPS Teamsters show up in mass to vote next year?

The Hoffa administration was hoping not to announce the cuts until after the 2016 IBT election, but the pension fund is so cash-strapped that the cuts have to be made before the end of the year.

If even 20% (40,000) of these angry 200,000 angry members cast a ballot...who will they cast it for, Hoffa?

Any thoughts on this crisis?

Why do informative posts that will affect members and discredit Hoffa are always ruined by Old Guard apologists? If you can't post anything factual about the Central States Pension crisis why don't you guys just stay out of this thread?

This thread is about the Central States pension crisis...let's talk about that.

And you better bet these members will not be voting for Hoffa!

 

[upschuck]

Pensions are a Ponzi scheme.

Not if ran properly.

 

[Brownslave688]

Not if ran properly.

That's one of the biggest IF's I've ever seen.

 

[rod]

Where is one of Obama's bailouts when you need it?

 

[oldngray]

Where is one of Obama's bailouts when you need it?

Especially since unions supported him. What reward did they get?

 

[wide load]

Why do informative posts that will affect members and discredit Hoffa are always ruined by Old Guard apologists? If you can't post anything factual about the Central States Pension crisis why don't you guys just stay out of this thread?

This thread is about the Central States pension crisis...let's talk about that.

And you better bet these members will not be voting for Hoffa!

Correct me if I'm wrong, but are you saying retirees won't vote for Hoffa? And shouldn't the burden be on the board of trustees?

 

[oldngray]

Correct me if I'm wrong, but are you saying retirees won't vote for Hoffa? And shouldn't the burden be on the board of trustees?

Retirees can't vote.

 

[wide load]

Retirees can't vote.

Exactly

 

[3 done 3 to go]

We believe in Obama!

Can only hope America can make it thru his last yr. Before he totally destroys the middle class

 

[Wally]

Is this a factor from the bill passed from the government.? To punish the working man

What bill is that?

 

[Wally]

Can only hope America can make it thru his last yr. Before he totally destroys the middle class

I wonder how much lack of growth has contributed to the problem?

 

[Evil]

Correct me if I'm wrong, but are you saying retirees won't vote for Hoffa? And shouldn't the burden be on the board of trustees?

No, but there's approximately 200,000 active members in the Central States Pension Fund. They are eligible to vote.