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Memories From The '97' Strike........
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<blockquote data-quote="PobreCarlos" data-source="post: 1022877" data-attributes="member: 16651"><p>JonFrum;</p><p></p><p>No, "the Teamsters don't run Central States"...but they *DID* (and *DO*) control the circumstances that put the plan in the position it's in!</p><p></p><p>Perhaps you ought to get it through that thick skull of yours that it WASN'T the "run[ning]" of Central States that caused the problem, nor was the primary issue one of "investment"; rather, it was THE TEAMSTERS INABILITY TO KEEP THE PLAN'S CONTRIBUTORS IN BUSINESS!!!! Remember the remarks that have been in various testimonies before Congress regarding the matter? If you don't, here's a link to one that might refresh your memory...a statement by an Assistant Secretary Labor (Phyllis Borzi) in front of the Senate. It can be found at....</p><p></p><p><a href="http://www.dol.gov/ebsa/newsroom/ty052710.html" target="_blank">Testimony of Phyllis C. Borzi Before the Committee on Health, Education, Labor and Pensions</a></p><p></p><p>....and here's what she had to say about CSPF in it.</p><p></p><p>"The Central States Pension Fund, one of the nation’s largest multiemployer defined benefit plans, is facing some of the most difficult long-term challenges. According to information provided by the Fund, the plan covers over 433,000 participants and provides monthly benefits to over 200,000 retirees and beneficiaries; active participants who provide the plan’s contribution base have now dropped to 61,000. A large number of business failures in the last two years have drastically reduced the number of employers and active workers to support the retirees in the plan, severely compounding a downward trend caused, in part, by trucking deregulation in the 1980s. The obligation to pay benefits to employees and retirees of these defunct companies remains with the Central States Pension Fund. Like many other plans, Central States also recently suffered investment losses, which has contributed to its financial problems. Reductions in benefits and substantial increases in employer contributions during the past few years have not been able to fill in the gaps caused by the rapidly shrinking contribution base."</p><p></p><p>Did the Trustees have anything to do with the decrease in participants? Nope....THE TEAMSTERS DID!</p><p></p><p>If you want other examples, do a Google search on terms like "testimony central states teamsters" and see what you come up with....and then drop the pretence that it was anybody else's fault but the unions that the plan has "turned south". IT WASN'T! The trustees - whether union or employer - can't do a damn thing to preserve the finances of the plan IF THE TEAMSTERS KEEP DRIVING THE CONTRIBUTING EMPLOYERS INTO BANKRUPTCY! It's as simple as that.</p><p></p><p>Beyond that, given the current status of the plan, it's virtually IMPOSSIBLE for the union to organize any new contributing company; such prospective employers realize from the get-go that it would be the "kiss of death" for their business to be involved with Central States...and that, if they're going to go out of business anyway, then they might as well go down fighting. The ONLY possibility of getting NEW contributors involved is following through on something like the plan NE trust is implementing, in which NEW contributors are liable for only THEIR deficiencies....and not those of other companies the union has put out of business.</p><p></p><p>Now I realize that guys like you will keep your head buried in the sand pretty much no matter what comes your way...but RESPONSIBILITY SIMPLY CAN'T BE DENIED FOREVER! And the union's continued denial of their responsibility in this area has had consequences that have led the union to where it's at today...a mere shadow of what it once was. And if members like you continue that denial, I'm afraid it can only get worse. That's life.</p></blockquote><p></p>
[QUOTE="PobreCarlos, post: 1022877, member: 16651"] JonFrum; No, "the Teamsters don't run Central States"...but they *DID* (and *DO*) control the circumstances that put the plan in the position it's in! Perhaps you ought to get it through that thick skull of yours that it WASN'T the "run[ning]" of Central States that caused the problem, nor was the primary issue one of "investment"; rather, it was THE TEAMSTERS INABILITY TO KEEP THE PLAN'S CONTRIBUTORS IN BUSINESS!!!! Remember the remarks that have been in various testimonies before Congress regarding the matter? If you don't, here's a link to one that might refresh your memory...a statement by an Assistant Secretary Labor (Phyllis Borzi) in front of the Senate. It can be found at.... [URL="http://www.dol.gov/ebsa/newsroom/ty052710.html"]Testimony of Phyllis C. Borzi Before the Committee on Health, Education, Labor and Pensions[/URL] ....and here's what she had to say about CSPF in it. "The Central States Pension Fund, one of the nation’s largest multiemployer defined benefit plans, is facing some of the most difficult long-term challenges. According to information provided by the Fund, the plan covers over 433,000 participants and provides monthly benefits to over 200,000 retirees and beneficiaries; active participants who provide the plan’s contribution base have now dropped to 61,000. A large number of business failures in the last two years have drastically reduced the number of employers and active workers to support the retirees in the plan, severely compounding a downward trend caused, in part, by trucking deregulation in the 1980s. The obligation to pay benefits to employees and retirees of these defunct companies remains with the Central States Pension Fund. Like many other plans, Central States also recently suffered investment losses, which has contributed to its financial problems. Reductions in benefits and substantial increases in employer contributions during the past few years have not been able to fill in the gaps caused by the rapidly shrinking contribution base." Did the Trustees have anything to do with the decrease in participants? Nope....THE TEAMSTERS DID! If you want other examples, do a Google search on terms like "testimony central states teamsters" and see what you come up with....and then drop the pretence that it was anybody else's fault but the unions that the plan has "turned south". IT WASN'T! The trustees - whether union or employer - can't do a damn thing to preserve the finances of the plan IF THE TEAMSTERS KEEP DRIVING THE CONTRIBUTING EMPLOYERS INTO BANKRUPTCY! It's as simple as that. Beyond that, given the current status of the plan, it's virtually IMPOSSIBLE for the union to organize any new contributing company; such prospective employers realize from the get-go that it would be the "kiss of death" for their business to be involved with Central States...and that, if they're going to go out of business anyway, then they might as well go down fighting. The ONLY possibility of getting NEW contributors involved is following through on something like the plan NE trust is implementing, in which NEW contributors are liable for only THEIR deficiencies....and not those of other companies the union has put out of business. Now I realize that guys like you will keep your head buried in the sand pretty much no matter what comes your way...but RESPONSIBILITY SIMPLY CAN'T BE DENIED FOREVER! And the union's continued denial of their responsibility in this area has had consequences that have led the union to where it's at today...a mere shadow of what it once was. And if members like you continue that denial, I'm afraid it can only get worse. That's life. [/QUOTE]
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