Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe UPS Forum
UPS Retirement Topics
local 804 pension problems
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="Cezanne" data-source="post: 144876" data-attributes="member: 5104"><p>Wkmac,</p><p> </p><p>You would have to finish my last statement, the lack of new participants is just ONE of the reasons that the Central States trust is underfunded. Of the three listed I believe that the raising of the benefits without the ability to pay for said benefit is the main reason for the current underfundng. The "baby boomer" generation that most of us close to retirement hit all the retirement trusts recently. The events that is happening with most all the Teamster's trusts is also occuring with the Social Security fund, any chance of having healthy, young and contributing participants continue to pay into a plan over the next thirty years would help any benefit plan.</p><p> </p><p>Will this underfunding turn the corner in the next 10 years? To answer that question just look at how many people or organizations are trying to get their hands on our retirement. There is a reason that all of a sudden the AWPA has appeared and that the company has been eager to take control of our retirement funds, these are not dumb people. </p><p> </p><p>One thing I am not saying is that the union has not greatly contributed to this problem. Playing politics with promised benefits and poor investment planning. But really we are in a situation to who do you trust to have control of your future. "Choose wisely"<img src="/community/styles/default/xenforo/smilies/group1/cool.gif" class="smilie" loading="lazy" alt=":cool:" title="Cool :cool:" data-shortname=":cool:" /></p></blockquote><p></p>
[QUOTE="Cezanne, post: 144876, member: 5104"] Wkmac, You would have to finish my last statement, the lack of new participants is just ONE of the reasons that the Central States trust is underfunded. Of the three listed I believe that the raising of the benefits without the ability to pay for said benefit is the main reason for the current underfundng. The "baby boomer" generation that most of us close to retirement hit all the retirement trusts recently. The events that is happening with most all the Teamster's trusts is also occuring with the Social Security fund, any chance of having healthy, young and contributing participants continue to pay into a plan over the next thirty years would help any benefit plan. Will this underfunding turn the corner in the next 10 years? To answer that question just look at how many people or organizations are trying to get their hands on our retirement. There is a reason that all of a sudden the AWPA has appeared and that the company has been eager to take control of our retirement funds, these are not dumb people. One thing I am not saying is that the union has not greatly contributed to this problem. Playing politics with promised benefits and poor investment planning. But really we are in a situation to who do you trust to have control of your future. "Choose wisely":cool: [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Retirement Topics
local 804 pension problems
Top