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Is Central States pension fund ready to go under?
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<blockquote data-quote="JonFrum" data-source="post: 232753"><p><strong>Re: UPDATE: 2nd quarter report now available</strong></p><p></p><p></p><p></p><p></p><p>You say it's time for a Reality Check, and ask that I Keep It Real. I've asked you to "put up or shut up" by taking your allegations and evidence (if any) to the Authorities. You refuse. That tells me you probably *do* understand that investing carries no guarantees. Everyone has bad years once and a while. Indeed, in a down market, almost *everyone* has bad years. Central States lost money just as did almost all other pension plans, just as did almost all UPSers in their privately directed 401(k) and IRA investments. You didn't loose money, I didn't loose money, but that doesn't automatically mean those who did are incompetent or criminal. Again, if you have hard evidence, take it to the Authorities.</p><p></p><p>The Form 5500's available on FreeErisa are not the *full* versions of the Annual Reports. If you contact the Fund itself, or the Department of Labor, you can obtain the full reports which include all the details about what stocks, bonds, etc. were bought and sold. It's all there.</p><p></p><p>As you know, Central States is a special case. It is run by Judge Moran, under 1982 Consent Decrees, and the investment decisions have been made by "Named Fiduciaries": Goldman Sachs Asset Management, J. P. Morgan, and Northern Trust Global Advisors. The fund is otherwise run by a Board of Trustees, half of which (the Employer Trustees) are approved by UPS.</p></blockquote><p></p>
[QUOTE="JonFrum, post: 232753"] [b]Re: UPDATE: 2nd quarter report now available[/b] You say it's time for a Reality Check, and ask that I Keep It Real. I've asked you to "put up or shut up" by taking your allegations and evidence (if any) to the Authorities. You refuse. That tells me you probably *do* understand that investing carries no guarantees. Everyone has bad years once and a while. Indeed, in a down market, almost *everyone* has bad years. Central States lost money just as did almost all other pension plans, just as did almost all UPSers in their privately directed 401(k) and IRA investments. You didn't loose money, I didn't loose money, but that doesn't automatically mean those who did are incompetent or criminal. Again, if you have hard evidence, take it to the Authorities. The Form 5500's available on FreeErisa are not the *full* versions of the Annual Reports. If you contact the Fund itself, or the Department of Labor, you can obtain the full reports which include all the details about what stocks, bonds, etc. were bought and sold. It's all there. As you know, Central States is a special case. It is run by Judge Moran, under 1982 Consent Decrees, and the investment decisions have been made by "Named Fiduciaries": Goldman Sachs Asset Management, J. P. Morgan, and Northern Trust Global Advisors. The fund is otherwise run by a Board of Trustees, half of which (the Employer Trustees) are approved by UPS. [/QUOTE]
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Is Central States pension fund ready to go under?
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