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Has IBT/CS been a wise steward of our pension?
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<blockquote data-quote="wkmac" data-source="post: 52929"><p>ez,</p><p>I'd not doubt if there were isolated pockets that got this amount but so far sawman has not given any hard proof of that. If he has I stand corrected but that was where my point was aimed. You suggest these small funds would hurt APWA but let me ask you this because I happened to disagree. It may be these funds APWA can point to and say if these guys can do it then why have they not done it for you? That is an excellent question to ask and there is enough smoke and clouds of suggested wrongdoings surrounding the Teamsters that it wouldn't take much to pick up that ball and run with it for many touchdowns. Once the large seed of doubt is planted and yes it's already there just beneath the surface then it won't take much water.</p><p></p><p>McDevitt in his testimony to Congress a couple of years ago was the first to bring up this much higher monthly figure if I remember right. I know it was linked here on Browncafe at one time so if someone knows where it is maybe they could post his testimony just to clarify exactly what he said. Just remembering the skuttlebut when he testified this was when I first heard this $7k per month figure flying around. Now did this come from some offical source who had facts to support how this amount could be paid or did some wide eyed UPSer just dream it up and then the UPS rumor network run with it? If McDevitt in fact did say it then this should be of interest to all of us no matter where we stand because for one, McDevitt is under oath just like in court when he testified to Congress and to be quite honest I'm not willing to believe that even UPS would use the US Congress to spread a lie to undercut the union. </p><p></p><p>EZ, those other funds could in fact be used as a model for funds like CS to follow but until we get hard facts either from APWA or even the IBT defenders who will consider nothing but standing put that such exist then we are getting nowhere IMO. I'd like to see documentation from the funds themselves as to what their structure is, what companies contribute and how many retirees to active employees there are. This could be another reason the payout is so high if true is the ratio for active/retired if heavily weighted to the active employee side. Flip flop the ratio like what CS has and then run the numbers and see what you get. I hope I'm wrong as this would give us some hope in the CS world but I'm not holding my breath. </p><p></p><p>I have no loyality to UPS, IBT, APWA or anything else. My only loyality is to my family and myself and whatever plan gives me the best shot at that for the longterm is what I will go with. This is also another reason why I'd rather be given the money up front and then I'd be responsible to seeing that it got placed aside for my retirement which takes everyone except myself out of the equation so if some thing goes wrong it's no one's fault but mine. If I'm gonna be at someone's mercy and peril I can think of no one better than myself. Sorry OK2BC but all jokes aside, I don't trust you either but it was a fun moment. BTW, you shouldn't trust me either. </p><p></p><p>You know, now that I think about it if the $7k per month is so easy then why can't APWA just tell us the formula, give us our own money and we invest it following that formula, save on the management fees and wal-la! Easy Street right?</p></blockquote><p></p>
[QUOTE="wkmac, post: 52929"] ez, I'd not doubt if there were isolated pockets that got this amount but so far sawman has not given any hard proof of that. If he has I stand corrected but that was where my point was aimed. You suggest these small funds would hurt APWA but let me ask you this because I happened to disagree. It may be these funds APWA can point to and say if these guys can do it then why have they not done it for you? That is an excellent question to ask and there is enough smoke and clouds of suggested wrongdoings surrounding the Teamsters that it wouldn't take much to pick up that ball and run with it for many touchdowns. Once the large seed of doubt is planted and yes it's already there just beneath the surface then it won't take much water. McDevitt in his testimony to Congress a couple of years ago was the first to bring up this much higher monthly figure if I remember right. I know it was linked here on Browncafe at one time so if someone knows where it is maybe they could post his testimony just to clarify exactly what he said. Just remembering the skuttlebut when he testified this was when I first heard this $7k per month figure flying around. Now did this come from some offical source who had facts to support how this amount could be paid or did some wide eyed UPSer just dream it up and then the UPS rumor network run with it? If McDevitt in fact did say it then this should be of interest to all of us no matter where we stand because for one, McDevitt is under oath just like in court when he testified to Congress and to be quite honest I'm not willing to believe that even UPS would use the US Congress to spread a lie to undercut the union. EZ, those other funds could in fact be used as a model for funds like CS to follow but until we get hard facts either from APWA or even the IBT defenders who will consider nothing but standing put that such exist then we are getting nowhere IMO. I'd like to see documentation from the funds themselves as to what their structure is, what companies contribute and how many retirees to active employees there are. This could be another reason the payout is so high if true is the ratio for active/retired if heavily weighted to the active employee side. Flip flop the ratio like what CS has and then run the numbers and see what you get. I hope I'm wrong as this would give us some hope in the CS world but I'm not holding my breath. I have no loyality to UPS, IBT, APWA or anything else. My only loyality is to my family and myself and whatever plan gives me the best shot at that for the longterm is what I will go with. This is also another reason why I'd rather be given the money up front and then I'd be responsible to seeing that it got placed aside for my retirement which takes everyone except myself out of the equation so if some thing goes wrong it's no one's fault but mine. If I'm gonna be at someone's mercy and peril I can think of no one better than myself. Sorry OK2BC but all jokes aside, I don't trust you either but it was a fun moment. BTW, you shouldn't trust me either. You know, now that I think about it if the $7k per month is so easy then why can't APWA just tell us the formula, give us our own money and we invest it following that formula, save on the management fees and wal-la! Easy Street right? [/QUOTE]
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