Central States going broke---

Wally

BrownCafe Innovator & King of Puns
Central States has been underfunded for MANY years. I could be wrong but I believe the last audit we got notice of was that they were at a whopping 19% funded.
So what over all these years was done to correct the problem?
 

rod

#1 on Upstates "list"
So what over all these years was done to correct the problem?
Basically the Government did nothing. Control over it was taken away from the Teamsters in 85 when they were caught investing in Las Vegas. You know--back when they Teamsters were actually ahead of the pension game.
 

Wally

BrownCafe Innovator & King of Puns
Basically the Government did nothing. Control over it was taken away from the Teamsters in 85 when they were caught investing in Las Vegas. You know--back when they Teamsters were actually ahead of the pension game.
Administration should have cut payouts and extended retirement age.
 

rod

#1 on Upstates "list"
The people in CS that didn't retire at 53, and will lose everything when it goes belly up appreciate your contribution.
Back then the people who worked past 30 years for the most part were fools. For every year past 30 you got an extra 100 bucks a month (up to 5 years). An extra 100 a month (which figures out to about 17 bucks a week after taxes) wasn't worth it to work at UPS. Maybe it is now.
 
Back then the people who worked past 30 years for the most part were fools. For every year past 30 you got an extra 100 bucks a month (up to 5 years). An extra 100 a month (which figures out to about 17 bucks a week after taxes) wasn't worth it to work at UPS. Maybe it is now.
You have to also figure in by working a little longer will raise your Social security plus the cost if health care
Plus the extra money you can out into your 401k

Ut yes I do understand the feeling of wanting to get out of UPS
 

rod

#1 on Upstates "list"
No, we'll all have to suffer because central states is "too big to fail"

We'll be told that we have to bailout of brothers and sisters.
I seriously doubt if it would come to that. The Teamsters as a whole aren't that close a unit to give up their war chest to help another region out.
 

rod

#1 on Upstates "list"
You have to also figure in by working a little longer will raise your Social security plus the cost if health care
Plus the extra money you can out into your 401k

Ut yes I do understand the feeling of wanting to get out of UPS
I don't regret taking SS early either. In this day and age you better take ANY monies it while its available. Its my money and I want it NOW. :-)
 
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