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 Union Issues
Another example of Central States mismanagement
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="JonFrum" data-source="post: 215684"><p><strong>What Are The Teamsters Doing To Fix The Pension Problems?</strong></p><p></p><p></p><p></p><p>Engineer 79,</p><p>Visit the Central States site . . .</p><p><a href="http://www.centralstatesfunds.org/Participants/" target="_blank">http://www.centralstatesfunds.org/Participants/</a></p><p></p><p>Read how the required hourly employer contribution levels have been increased to shore-up the Fund . . .</p><p><a href="http://www.centralstatesfunds.org/cs/Pdf/SpecialBulletin2007.pdf" target="_blank">http://www.centralstatesfunds.org/cs/Pdf/SpecialBulletin2007.pdf</a></p><p></p><p>Read the quarterly reports of the Fund's progress . . .</p><p><a href="http://www.centralstatesfunds.org/cs/Spcl_Councel_Report.asp" target="_blank">http://www.centralstatesfunds.org/cs/Spcl_Councel_Report.asp</a></p><p></p><p>Read the Fund Trustees' explanations of what caused the Plan's problems, and what they have done to fix it, in issues of Teamwork Magazine . . .</p><p><a href="http://www.centralstatesfunds.org/cs/plans/teamwork.asp" target="_blank">http://www.centralstatesfunds.org/cs/plans/teamwork.asp</a></p><p></p><p>There's also the original Plan Fix that was imposed by Judge Moran. Sorry, I don't have a link to it. </p><p></p><p>I am not in the Central States fund, but I assume most of this information was sent to your home. You may not agree with it, but it is a plan to fix the Fund. Basically it involves cutting benefits to reduce expenses, and increasing contributions to increase income. Over time the fund's financial status should improve, as it in fact has. A favorable stock market is helping too.</p><p></p><p>The Teamsters, as such, do not control the fund, Judge Moran does, under a 1982 Consent Decree. The Trustees have only limited power, and Teamsters Trustees have only half of that. Investment decisions are made by "named fiduciaries" that are big-name Wall Street investment firms. The Teamsters only negotiate the hourly contribution rate, and they will try to negotiate as high a rate as possible to shore-up the Fund, I assume. </p><p></p><p>As always, I'm not defending the sorry state of the Fund, just reminding you that fixes have been in place for several years now, and you should stop pretending nothing has been done.</p></blockquote><p></p>
[QUOTE="JonFrum, post: 215684"] [b]What Are The Teamsters Doing To Fix The Pension Problems?[/b] Engineer 79, Visit the Central States site . . . [url]http://www.centralstatesfunds.org/Participants/[/url] Read how the required hourly employer contribution levels have been increased to shore-up the Fund . . . [url]http://www.centralstatesfunds.org/cs/Pdf/SpecialBulletin2007.pdf[/url] Read the quarterly reports of the Fund's progress . . . [url]http://www.centralstatesfunds.org/cs/Spcl_Councel_Report.asp[/url] Read the Fund Trustees' explanations of what caused the Plan's problems, and what they have done to fix it, in issues of Teamwork Magazine . . . [url]http://www.centralstatesfunds.org/cs/plans/teamwork.asp[/url] There's also the original Plan Fix that was imposed by Judge Moran. Sorry, I don't have a link to it. I am not in the Central States fund, but I assume most of this information was sent to your home. You may not agree with it, but it is a plan to fix the Fund. Basically it involves cutting benefits to reduce expenses, and increasing contributions to increase income. Over time the fund's financial status should improve, as it in fact has. A favorable stock market is helping too. The Teamsters, as such, do not control the fund, Judge Moran does, under a 1982 Consent Decree. The Trustees have only limited power, and Teamsters Trustees have only half of that. Investment decisions are made by "named fiduciaries" that are big-name Wall Street investment firms. The Teamsters only negotiate the hourly contribution rate, and they will try to negotiate as high a rate as possible to shore-up the Fund, I assume. As always, I'm not defending the sorry state of the Fund, just reminding you that fixes have been in place for several years now, and you should stop pretending nothing has been done. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Union Issues
Another example of Central States mismanagement
Top