Central States going broke---
- Thread starter rod
- Start date
well, in retrospect perhaps the ups offer of taking over the healthcare before the short strike in august of 1997 (?) wasn't a bad idea.....It would have been the same as managements healthcare who have outstanding plans and dont pay into it at or or very little in comparison......
542thruNthru
Well-Known Member
They offered to take over the pension not the healthcare. UPS didn't want our healthcare that's why most went to Teamcare.
Also my healthcare is way better than a Supervisors so I don't know what you're smoking lol
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Brown287
Im not the Mail Man!
The hell it should, drivers make the same in Texas as they do in California. Address that issue first, till you do the CS css as n pound dirt!
burrheadd
KING Of GIFS
Not my fault you don’t know how to budget maybe tune in to Suze Orman
Brown287
Im not the Mail Man!
Damn you...you stole my line. I had that as my on deck response. Looks like the CS needs to learn to budget doesn’t it.
Bubblehead
My Senior Picture
Ask your supervisor what they pay out of pocket for healthcare tomorrow and what their annual deductible is.
....because you could not be more wrong.
Maybe it's not so crazy after all.
Every existing Pension plan pays into the PBGC every month on a per member basis. And every year as more funds fail, that amount increases.
Trustees of funds have zero input on those costs.
So what do you think will happen to healthy funds when the PBGC goes belly up while assuming the 30% benefit promise to pensioners from a failed CSPF?
Ask your supervisor about their pension...
Bubblehead
My Senior Picture
The answer will depend on how long they have been a supervisor, but a valid caveat none the less.
The new ones get nothing and apparently last year's MIP bonus was very lackluster
Bubblehead
My Senior Picture
That dynamic will be what it will be, but unless I am missing something, and will not be influenced by who is elected President or Secretary Treasurer of the IBT in the Fall of 2021?
Correct me if I am wrong, but the PBGC is a pseudo-governmental agency that is not beholding to the whims of the IBT or any other labor union.
The notion we were discussing was whether the IBT had the authority to "merge" pension funds in order to prop up those that are failing.
Many in the west are being sold this notion as a threat for political fodder.
Am I off base by seeing that as...."baseless"???
542thruNthru
Well-Known Member
This was being talked about back when the GROW act was being talked about. We were told reasons it was bad and why we needed to send letters to our congressman.
It is being talked about again but this was before all the politics.
I believe you've sniffed it out.
Pension Fund Union Trustees would commit political suicide if they managed to somehow clear the legal hurdles of adjusting participation agreements to allow non payers/non members (of that plan) to collect benefits.
However non-payers could join different plans by merging locals. But benefits can't be earned retrospectively so it would only work on a going forward basis from the date of merger/participation.
rod
Retired 22 years
Live within your means. If you want to retire early live a little below your means and get a good financial adviser
rod
Retired 22 years
rod
Retired 22 years
I kind of lucked out. When I first retired health care for both the wife and I was only 50 bucks Month. By the time I was put out to pasture on Medicare it was up to a buck fiddy— still dirt cheap.
Bubblehead
My Senior Picture
Many retirees believe they did just that, while correctly assuming their pension was an earned benefit.
....only to have that rug pulled out from under them, with no recourse or ability to earn.
It is not their fault and absolutely criminal in my opinion.
