CSPF awarded 36 billion.

[Its_a_me]

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

FALSE.

At least the student loans bailouts will be paritally paid by the same generation that is getting the bailout.

This pension bailout for Boomers and older Gen X'ers will be paid off by Millennials and Gen Z'ers.

So yeah, there is a big difference between the two concepts and Boomers need to start having it thrown in there faces how they left a lower standard of living to the next generation and are now sticking the ones behind that will more bills.

 

[Johney]

FALSE.

At least the student loans bailouts will be paritally paid by the same generation that is getting the bailout.

This pension bailout for Boomers and older Gen X'ers will be paid off by Millennials and Gen Z'ers.

So yeah, there is a big difference between the two concepts and Boomers need to start having it thrown in there faces how they left a lower standard of living to the next generation and are now sticking the ones behind that will more bills.

You do understand pensioners pay taxes too.

 

[MyTripisCut]

You do understand pensioners pay taxes too.

He(they) do not understand much. Only how to pin blame on problems that come up instead of adapting and rising up. Millennial ideology is it’s not my fault, it’s someone else’s, everyday.

 

[Wally]

FALSE.

At least the student loans bailouts will be paritally paid by the same generation that is getting the bailout.

This pension bailout for Boomers and older Gen X'ers will be paid off by Millennials and Gen Z'ers.

So yeah, there is a big difference between the two concepts and Boomers need to start having it thrown in there faces how they left a lower standard of living to the next generation and are now sticking the ones behind that will more bills.

False? You may know more that others.

What has been done over these decades? Did they add years of service and/or lower payouts, forgo raises, to put more money in the plan? Seems to me those things could make a huge difference? Sucks to be you in those plans but when in financial trouble, you gotta' tighten then belt.

Stuff happens and you do what you have to do sometimes. My local years back voted and approved to divert a portion of a pay increase into the pension to get it into a safer position.

 

[textat3]

Local 639 here. Largest Pension payout in the world and needs no government $$.

 

[Whither]

Pension administration had decades to make changes, did nothing.

How the Teamsters pension disappeared more quickly under Wall Street than the mob

Real estate investments in Las Vegas casinos and hotels once threatened the integrity of a Teamsters pension fund, but a combination of poor investments, lax...

www.marketwatch.com

 

[Whither]

Wall Street, limited liability corporations, the mafia: it's the same racket, but the first two have the law on their side. We should not be looking to justify retirees being stripped of their pensions or ever take sides with those who do.

 

[oldngray]

Wall Street, limited liability corporations, the mafia: it's the same racket, but the first two have the law on their side. We should not be looking to justify retirees being stripped of their pensions or ever take sides with those who do.

The pension did better under mafia control than it did after the government stepped in

 

[Whither]

The pension did better under mafia control than it did after the government stepped in

So that op-ed claims anyway haha. The point is, anyone who defrauds us of our money -- retirees and active employees alike -- must be held accountable.

 

[Darmark7]

So that op-ed claims anyway haha. The point is, anyone who defrauds us of our money -- retirees and active employees alike -- must be held accountable.

Good luck with that. Nobody is above the law except those that are above the law.

 

[Wally]

The pension did better under mafia control than it did after the government stepped in

You borrow from those guys you will make good, or else!

 

[oldngray]

You borrow from those guys you will make good, or else!

 

[What'dyabringmetoday???]

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

Please don't argue with Big Union Man. He has all of the answers...

 

[Trucker Clock]

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.

What are you talking about?

YRC was about to go under. The Teamsters agreed to allow them to stop paying into Central States to help save the company. So you think it is OK for employees to collect a pension when their employer stopped paying into the pension fund?

And when they did start paying in again, it was only at 25% the full rate.

The YRC employees made a move to save the company, and their jobs. I don't blame them. But, there are consequences to every action. Like @Wally said. Agree to stop paying in, but still want to collect?

 

[Johney]

The YRC employees made a move to save the company, and their jobs. I don't blame them.

How'd that work out for them? Not very good.

 

[Over70irregs]

How long will this stall $ kick the can down the road?

 

[Yolo]

Maybe a year? Boomers are notoriously bad with money.

 

[PASinterference]

Do others that made bad investments get a payout too?

You would be ok with it if you were under central states.

 

[Wally]

What are you talking about?

YRC was about to go under. The Teamsters agreed to allow them to stop paying into Central States to help save the company. So you think it is OK for employees to collect a pension when their employer stopped paying into the pension fund?

And when they did start paying in again, it was only at 25% the full rate.

The YRC employees made a move to save the company, and their jobs. I don't blame them. But, there are consequences to every action. Like @Wally said. Agree to stop paying in, but still want to collect?

You stop paying in, you are out. Non refundable. Sucks to be them.

 

[IVE GOTTA PACKAGE 4U]

What are you talking about?

YRC was about to go under. The Teamsters agreed to allow them to stop paying into Central States to help save the company. So you think it is OK for employees to collect a pension when their employer stopped paying into the pension fund?

And when they did start paying in again, it was only at 25% the full rate.

The YRC employees made a move to save the company, and their jobs. I don't blame them. But, there are consequences to every action. Like @Wally said. Agree to stop paying in, but still want to collect?

What about hostess?
They went bankrupt and owed many pension funds a lot of money