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UPS Union Issues
Another example of Central States mismanagement
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<blockquote data-quote="badpas" data-source="post: 218368" data-attributes="member: 8876"><p><strong>Re: What benefits would *you* have cut to rebalance the Fund?</strong></p><p></p><p></p><p> </p><p>Now Jon, you might not like his proposal but at least he answered your question. But I do think its interesting that you, coming from another fund, would shoot down his idea so cruelly. It almost sounded more like the opinion of an IBT official more than someone who seems to have some education but for some reason is wasting his talents on a combo job instead of doing something more important than this. However, we do appreciate at least for the most part, all the info you post the only difference is most of us don't have as much time as you do to research everything under the moon. But I guess 8 hrs a day will do that for you. Don't take that personally I wish I had more time too.</p><p> </p><p>But more to the point, I do understand what you are saying about funds taking a hit, we all do, but the problem with cutting everyones pensions the way they did maybe necessary but instead of gradual growth the fund would have to tripple over a number of years for this ship to make it back into calm seas simply because the number of retirees that, if their smart, didn't retire but waited to see if their numbers come back to what they would see as not losing anything even if they didn't gain anything. The problem with this, and this is why I say tripple, is the number of retirees potentially dropped a bunch only to find out the company will restore their amounts so in return the retiree numbers then sky rocket forcing the rollercoaster ride of a pension fund to actually speed up the process of bankrupting itself. Sorry for such a long runon sentence. So as I said before you may think there is still time to fix cs but if that were the case then why does the teamsters seem to be leaning away from cs. Now that may change but if the numbers don't change and go up and I mean way then none of us are getting what we've truely earned. As do the mechanics. Now I'm not saying I should be getting what someone as a mechanic would with the same number of years but 2 to 3000 range is a slap in all our faces especially since the amounts of pension dollars are no different between packages and the mechanics. I know you being from the financial community would have to agree with the amount of pension money calculated by a number of years and getting the same return that central states has reported over the past 20 yrs should be getting all of us alot more than 3000 a month.</p></blockquote><p></p>
[QUOTE="badpas, post: 218368, member: 8876"] [b]Re: What benefits would *you* have cut to rebalance the Fund?[/b] Now Jon, you might not like his proposal but at least he answered your question. But I do think its interesting that you, coming from another fund, would shoot down his idea so cruelly. It almost sounded more like the opinion of an IBT official more than someone who seems to have some education but for some reason is wasting his talents on a combo job instead of doing something more important than this. However, we do appreciate at least for the most part, all the info you post the only difference is most of us don't have as much time as you do to research everything under the moon. But I guess 8 hrs a day will do that for you. Don't take that personally I wish I had more time too. But more to the point, I do understand what you are saying about funds taking a hit, we all do, but the problem with cutting everyones pensions the way they did maybe necessary but instead of gradual growth the fund would have to tripple over a number of years for this ship to make it back into calm seas simply because the number of retirees that, if their smart, didn't retire but waited to see if their numbers come back to what they would see as not losing anything even if they didn't gain anything. The problem with this, and this is why I say tripple, is the number of retirees potentially dropped a bunch only to find out the company will restore their amounts so in return the retiree numbers then sky rocket forcing the rollercoaster ride of a pension fund to actually speed up the process of bankrupting itself. Sorry for such a long runon sentence. So as I said before you may think there is still time to fix cs but if that were the case then why does the teamsters seem to be leaning away from cs. Now that may change but if the numbers don't change and go up and I mean way then none of us are getting what we've truely earned. As do the mechanics. Now I'm not saying I should be getting what someone as a mechanic would with the same number of years but 2 to 3000 range is a slap in all our faces especially since the amounts of pension dollars are no different between packages and the mechanics. I know you being from the financial community would have to agree with the amount of pension money calculated by a number of years and getting the same return that central states has reported over the past 20 yrs should be getting all of us alot more than 3000 a month. [/QUOTE]
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