New England pension fund = CRITICAL

Discussion in 'UPS Union Issues' started by anHOURover, Jun 18, 2015.

  1. anHOURover

    anHOURover Well-Known Member

    ImageUploadedByBrownCafe1434680471.333611.jpg

    ImageUploadedByBrownCafe1434680493.977975.jpg

    Now that I have a few buddy's in NE I WANTED TO see what O is doing about his pension fund being "CRITICAL"
    Can't blame this one on the late great Ron Carey!!
    The floor is yours brother....
     
  2. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Ours (Upstate NY Pension) is also in critical status and we are currently in a pension rehabilitation plan and will most likely renew that in 2018.
     
  3. wide load

    wide load Well-Known Member

    I love how this guy intentionally leaves out the very last line of the report.
     
  4. anHOURover

    anHOURover Well-Known Member

    I thought O was god??? what's the excuse for a critical pension when he's a trustee??
    IM AWAITING brother...
     
  5. Lead Belly

    Lead Belly BANNED

    Every multi employer pension fund with the exception of the western conference of teamsters is in critical. A lot of union trucking companies have gone out of business I. The last twenty thirty years. Their employers don't pay into said funds anymore. Do you remember when all the mortgage and credit card lenders got a buy out? Republicans do not think people on a pension deserve a buy out. To secure their pensions.
     
  6. realbrown1

    realbrown1 Annoy a liberal today. Hit them with facts.

    Looks like the Old Guard can't run crap.

    This kind of thing pops up all the time.

    Vote 'em out.
     
  7. And once they are in critical, they out the money in safwr investments. So even if the market has a few good years you gain very little.
     
  8. realbrown1

    realbrown1 Annoy a liberal today. Hit them with facts.

    You admit that you knew that a lot of union trucking companies have gone out of business, yet what did the Old Guard do about it?

    Cut future pensions to save these funds?.........NO

    Cut future pensions for those employees from the out of business companies?..........NO

    Go golfing with CEO's of companies still in business?.............YES
     
  9. wide load

    wide load Well-Known Member

    The plan has been critical since 2003. Why did you intentionally leave out the last line? I'm waiting BROTHER.
     
  10. Lead Belly

    Lead Belly BANNED

    That Depression we had in 2008 kinda screwed this up a little. Just saying.
     
  11. Lead Belly

    Lead Belly BANNED

    He did it selectively.
     
  12. Oh yes it did. But my 401k has grown quite nice since then.
    They should have made a few cuts back then.

    It's a complete mess. Very depressing.
     
  13. Monkey Butt

    Monkey Butt You can call me Chappy Staff Member

    Even more telling, neither did/do Democrats even when they controlled both houses and the President.
     
    • Winner Winner x 2
    • Like Like x 1
    • Agree Agree x 1
    • List
  14. Lead Belly

    Lead Belly BANNED

    Why are your post taking so long to show up? It's really kind of weird. Are you okay!!!!
     
  15. Lead Belly

    Lead Belly BANNED

    I'll be the first to admit I was wrong about Obama. He hasn't done what we needed.
     
  16. Lead Belly

    Lead Belly BANNED

    It wasn't legal to cut the pensions. That's what everyone was missing. The omnibus changed that. What we needed was a bail out. And congress isn't bailing out a bunch of retires or future retires. They do t care about us or them. There isn't enough money in it for them.
     
  17. Lead Belly

    Lead Belly BANNED

    My 401 has grown as well but back in 2008 2009 it took a big dump.
     
    Last edited: Jun 19, 2015
  18. They could have cut the benefits to future retirees. But chose not too.
     
  19. Everyone's 401k was in the crapper.
     
  20. Lead Belly

    Lead Belly BANNED

    It wasn't legal. That's what you are missed my friend. The omnibus budget made it legal to cut it. The trustees didn't have the power to cut the plan. That's why the omnibus spending bill had to do it. Legislation was needed to make those cuts legal. Now it is. Members just aren't informed especially ups ones making 90g a year. The identify and I'm not saying you but most identiify with being a tea party republican. It's sad but look and read what I'm saying. It's how it really is.