CSPF awarded 36 billion.

[542thruNthru]

Thought I'd post this. I know there has been a lot of talk about it.

 

[Wally]

Do others that made bad investments get a payout too?

 

[charm299]

Do others that made bad investments get a payout too?

Under this administration, yes

 

[Johney]

Do others that made bad investments get a payout too?

Although I’m happy cause I’m part of CSPF I gotta agree. Money collected for me from UPS then a buy out of my pension and all that money was pissed away. Makes me wonder how long before they piss that away.

 

[Wally]

Although I’m happy cause I’m part of CSPF I gotta agree. Money collected for me from UPS then a buy out of my pension and all that money was pissed away. Makes me wonder how long before they piss that away.

Decades went by and plan administrators did nothing. Now they get taxpayer money? No strings attached? It's no different than student loan bailouts.

 

[bottomups]

 

[oldngray]

Decades went by and plan administrators did nothing. Now they get taxpayer money? No strings attached? It's no different than student loan bailouts.

Except the students promised to pay back those loans and the pensions were promised to the retirees. You could compare them if you held them both to the same standard of following the promised agreements.

 

[Wally]

Except the students promised to pay back those loans and the pensions were promised to the retirees. You could compare them if you held them both to the same standard of following the promised agreements.

Pension administration had decades to make changes, did nothing.

 

[rod]

Do others that made bad investments get a payout too?

Nope---just me.

 

[rod]

Thought I'd post this. I know there has been a lot of talk about it.
View attachment 410206

 

[rod]

I still think Biden is a prick

 

[Trailer monkey]

Do others that made bad investments get a payout too?

Wall Street investment banks

 

[bottomups]

So when all these public pension funds across the US that are in trouble go into default are we gonna bail them out to?

 

[Wally]

Did the Central Fund choose to forgo raises as tough guy Sean said? It's been decades. Did plan administrators do anything?

 

[BigUnionGuy]

Pension administration had decades to make changes, did nothing.

Uh....

Yes they did.

Back in 2002 they reduced the accrual rate, in order to (try and) shore up two decades of declining participants

due to the deregulation of the trucking industry. It helped a little.... but not enough.

Although I’m happy cause I’m part of CSPF I gotta agree. Money collected for me from UPS then a buy out of my pension and all that money was pissed away. Makes me wonder how long before they piss that away.

That 6.4 Billion disappeared like a fart in the wind.... but, that was due to the economy and the stock market.

I get the impression, some people think the Teamsters are managing the investments ?

Did the Central Fund choose to forgo raises as tough guy Sean said? It's been decades. Did plan administrators do anything?

View attachment 410273

UPS Teamsters, tend to only think in terms of UPS.

Without knowing the details of any other company in a multi-employer fund....

People don't know what others have given up. Ask someone from YRC.

 

[Wally]

Uh....

Yes they did.

Back in 2002 they reduced the accrual rate, in order to (try and) shore up two decades of declining participants

due to the deregulation of the trucking industry. It helped a little.... but not enough.



That 6.4 Billion disappeared like a fart in the wind.... but, that was due to the economy and the stock market.

I get the impression, some people think the Teamsters are managing the investments ?




UPS Teamsters, tend to only think in terms of UPS.

Without knowing the details of any other company in a multi-employer fund....

People don't know what others have given up. Ask someone from YRC.

Who set up that raw deal? Seem to me you stop paying in, you stop collecting. The lawyers weren't that smart.

 

[oldngray]

Who set up that raw deal? Seem to me you stop paying in, you stop collecting. The lawyers weren't that smart.

What broke the back was the orphan plans getting away with not paying what they owed.

 

[BigUnionGuy]

Who set up that raw deal? Seem to me you stop paying in, you stop collecting. The lawyers weren't that smart.

Treasury Releases Proposed Regulations Clarifying the UPS Rule under MPRA

On February 9, the US Department of the Treasury (Treasury) released additional proposed regulations implementing the benefit suspension provisions of the Multiemployer Pension Reform Act of 2014 (MPRA).

www.morganlewis.com

 

[Darmark7]

Biden’s piggy bank is going to solve everyone’s problems all over the world! He must be the 2nd coming of Jesus! People that was upset about other people getting Biden money are now getting Biden money and before long everybody will be getting a piece of the action and singing praises the the money king. Hallelujah.

 

[PT Car Washer]

Who set up that raw deal? Seem to me you stop paying in, you stop collecting. The lawyers weren't that smart.

The lawyers were smart enough to make sure they got paid.