More gloom and doom..CS is tanking

[rod]

They are waiting for you to croak.

he said "croak"

 

[oldngray]

My mom wants to save everything for "the kids", she lives very miserly.

You shouldn't leave your kids any debts but they shouldn't expect you to leave them everything either.

 

[upschuck]

You shouldn't leave your kids any debts but they shouldn't expect you to leave them everything either.

We tell her to spend some of that money one time, so she hired people to cut down a couple trees.

 

[rod]

We tell her to spend some of that money one time, so she hired people to cut down a couple trees.

You're lucky---my mother-in-law still calls me or her eldest boy (66) to do all her stuff. I don't mind helping but sometimes she don't realize we aren't "teenage boys" anymore.

 

[upschuck]

You're lucky---my mother-in-law still calls me or her eldest boy (66) to do all her stuff. I don't mind helping but sometimes she don't realize we aren't "teenage boys" anymore.

I like doing that stuff, but that would not of cost much money. We are also 4 hours away.

 

[oldngray]

I like to do as much myself as possible but you come to a point where your time is more important than the money required.

 

[rod]

We tell her to spend some of that money one time, so she hired people to cut down a couple trees.

All you have to do is cut one down so it falls on a building or vehicle and they won't ask you anymore. I found that out when I was helping a guy move an old upright piano and it fell out of the truck going around a corner. No one has asked me to help them move a piano since.

 

[O/C]

That is my understanding as well...
We will vote on it, but if is voted down, cuts will be made anyway.


Considering only active union members will be permitted to vote, does anybody think that it even has a chance of being voted down. We are eating our own!

Sent using BrownCafe App

 

[oldngray]

I received a letter today from the CS retiree representative. It didn't say much other than being negative with more information to follow in later letters. Also it was only from the point of view of Central States with no mention of UPS.

 

[The Milkman]

I like to do as much myself as possible but you come to a point where your time is more important than the money required.

Good point..My time is worth more to me than any bank statement figures...I want to die Broke...Bust my tail all them years and then just look at a set of numbers and pinching pennies is not my style....Like you I am enjoying my retirement with all the Time to myself.....

 

[upschuck]

I received a letter today from the CS retiree representative. It didn't say much other than being negative with more information to follow in later letters. Also it was only from the point of view of Central States with no mention of UPS.

I received an envelope today, nothing in it though. My wife was wondering if I was planning on retiring soon.

 

[realbrown1]

Pensions are Ponzi schemes that rely on newer younger workers to help pay for YOUR pension.

They should be illegal and replaced with a retirement plan that money is deposited into EACH workers INDIVIDUAL account to be used for that persons retirement only.

But union officers will never go for that.

Those account don't require $100+k a year TRUSTEE SPOTS that the union higher ups like to be on.

Another not ready for prime time player steps up. Pension and H&W Trustees are unpaid positions. Always.
A Ponzi scheme pays one investor "interest" with another investors money, without any investment and the house of cards always fails. A pension pays with invested returns, and properly managed is self sustaining in perpetuity.

This is from a couple of years ago, but still to the point that the trustees will get paid, one way or the other.

The Central States Funds "Dirty Dozen"...

Tom Nyhan $662,060
Mark Angerame $430,660
James Condon $373,047
Albert Madden $371,229
Robert Coco $363,604
John J. Franczyk Jr. $362,074
Albert Nelson $305,811
Peter Priede $278,407
William Schaefer $277,391
Patrick Moroney $223,217
Ray Hale $221,155
Scott Robbins $202,269

Source: Central States Pension Fund and Central States Health & Welfare Fund (yes they double dip) 2013 Form 5500 Reports to the Department of Labor!

 

[rod]

I received a letter today from the CS retiree representative. It didn't say much other than being negative with more information to follow in later letters. Also it was only from the point of view of Central States with no mention of UPS.

I got that letter last week also.

 

[Inthegame]

This is from a couple of years ago, but still to the point that the trustees will get paid, one way or the other.

The Central States Funds "Dirty Dozen"...

Tom Nyhan $662,060
Mark Angerame $430,660
James Condon $373,047
Albert Madden $371,229
Robert Coco $363,604
John J. Franczyk Jr. $362,074
Albert Nelson $305,811
Peter Priede $278,407
William Schaefer $277,391
Patrick Moroney $223,217
Ray Hale $221,155
Scott Robbins $202,269

Source: Central States Pension Fund and Central States Health & Welfare Fund (yes they double dip) 2013 Form 5500 Reports to the Department of Labor!

Another swing and a miss...none of the aboved named are Union Trustees on the CS Pension, so they aren't getting a union salary hence no double dipping as you've inaccurately alleged.
Does it ever bother you how often you're wrong? About ... everything?

 

[Jackburton]

I have looked all through Article 69 in the Southern Supplement and have yet to find wording that clearly indicates that UPS will be liable for any shortfalls of the CS plan for UPSers or cuts starting with other non UPS retirees listed in any documents outside of the contract. If anyone could provide a clear wording on this, whether in documents from the earmark for UPS during the lobbying, or in the actual wording of the Master/Supplement, I'd greatly appreciate it.

Feel free to point it out on which page
http://teamster.org/sites/teamster.org/files/52013revised75310SouthernArea3.pdf

 

[Catatonic]

I got that letter last week also.

As did I.

 

[Lead Belly]

I have looked all through Article 69 in the Southern Supplement and have yet to find wording that clearly indicates that UPS will be liable for any shortfalls of the CS plan for UPSers or cuts starting with other non UPS retirees listed in any documents outside of the contract. If anyone could provide a clear wording on this, whether in documents from the earmark for UPS during the lobbying, or in the actual wording of the Master/Supplement, I'd greatly appreciate it.

Feel free to point it out on which page
http://teamster.org/sites/teamster.org/files/52013revised75310SouthernArea3.pdf

Page 92

 

[Jackburton]

Page 92

Thanks, was tearing apart the supplement when I should have been looking at the master.

 

[Cowboy26aa]

Page 206 of the Teamsters Central Region and UNITED PARCEL SERVICE Supplemental Agreement to the NATIONAL MASTER UNITED PARCEL SERVICE AGREEMENT.

"The UPS/IBT Plan will recognize full-time service in the CS Plan for determining eligibility for the benefits in this section and will offset at Normal Retirement Age the benefits accrued from the CS Plan commencing at Normal Retirement Age. If the benefit paid from the CS Plan is reduced as permitted or required by law, the amount of such reduction shall not be included in this offset."

I take it as the offset is the amount that Central States pays when we get 65.

 

[Cowboy26aa]

I retired from UPS as a feeder driver with 34 years of service in August 2008. I have the CD that was sent out by the IBT to all of us in the Central states region describing the proposed changes to the pension plan prior to voting on the supplement. The CD mentions in three separate places the UPS guarantee. It states, that , when a retiree reaches age 65, if for any reason Central States can not fulfill part or all of their portion of the retirement UPS will make up the difference. I talked to the retirement dept in Atlanta and all I got was that the language is still in force about UPS making up the reduction for retirees who retired after Jan 1,2008 but UPS is not making any statements as to what they will do until they see what Central states does. So , until we get any more info, it's a waiting game with a lot of speculations as usual.