No tax on overtime

[IVE GOTTA PACKAGE 4U]

Also, the government sets many of those rules. Oversees them and enforces them. They pretty much control the whole game, but some here seem to think they have no liability.

Just like the pension fund cannot be overfunded, or the companies don't have to contribute it anymore

They should have the ability to put a little bit in reserves

 

[Thebrownblob]

Just like the pension fund cannot be overfunded, or the companies don't have to contribute it anymore

They should have the ability to put a little bit in reserves

 

[IVE GOTTA PACKAGE 4U]

25 years ago my plan was in good shape..

 

[Thebrownblob]

Just like the pension fund cannot be overfunded, or the companies don't have to contribute it anymore

They should have the ability to put a little bit in reserves

In 1997 the biggest part of our strike was because of pensions. Truth is we should’ve got out of that fund then. Because it happened 10 years later anyway, and it was really too late for that fund if it didn’t get that bail out.

 

[IVE GOTTA PACKAGE 4U]

In 1997 the biggest part of our strike was because of pensions. Truth is we should’ve got out of that fund then. Because it happened 10 years later anyway, and it was really too late for that fund if it didn’t get that bail out.

The union played us on that one.

 

[Thebrownblob]

The union played us on that one.

Indeed

 

[Thebrownblob]

Lol....what are you guys going to do with all your extra money?

Dinner and a movie?

 

[UnionStrong]

Like I said, we were taking care of orphan companies with that money and an economic downturn wiped much of it out, and the pension trustees were not allowed to invest later on in stocks that were growing because of the “risk”.

Then around 2010 they started devising a plan to reduce pensions, which eventually was shot down by the government in 2015 I believe. They said it was a defined pension and they were not allowed to reduce the payment even though the fund was projected to be bankrupt in 10 to 15 years.

There’s a lot more involved in this and that’s just off the top of my head.

They did reduce pension payments.

 

[I have NOT been lurking]

maybe you should refuse your pension, because Biden saved it

Go get your booster, vaxxie. And join ptcarloser

 

[Thebrownblob]

They did reduce pension payments.

Not the way that was needed. Once the actuary’s had pretty much lockdown a date that the fund would be insolvent the trustees stepped into action to try and do something to stave it off.

Treasury rejects a plan to cut pensions for Teamsters

Teamsters retirees worried about how they would cover their bills, if their pension checks were cut as soon as July.

www.freep.com

DOL collaborated with CSPF and others on steps intended to improve the plan's inancial position, including contributing to discussions on proposed legislation and working with CSPF on its application to reduce benefits under the Vultiemployer Pension Reform Act of 2014. The application was not approved oy the U.S. Department of the Treasury.

 

[UnionStrong]

Not the way that was needed. Once the actuary’s had pretty much lockdown a date that the fund would be insolvent the trustees stepped into action to try and do something to stave it off.

Treasury rejects a plan to cut pensions for Teamsters

Teamsters retirees worried about how they would cover their bills, if their pension checks were cut as soon as July.

www.freep.com

DOL collaborated with CSPF and others on steps intended to improve the plan's inancial position, including contributing to discussions on proposed legislation and working with CSPF on its application to reduce benefits under the Vultiemployer Pension Reform Act of 2014. The application was not approved oy the U.S. Department of the Treasury.

I read when the bailout was being discussed, that it would make all the pensioners that had been cut, meaning central, whole with back pay. The PBGC is the one that makes the determination to cut back, no?

 

[Bubblehead]

Not the way that was needed. Once the actuary’s had pretty much lockdown a date that the fund would be insolvent the trustees stepped into action to try and do something to stave it off.

Treasury rejects a plan to cut pensions for Teamsters

Teamsters retirees worried about how they would cover their bills, if their pension checks were cut as soon as July.

www.freep.com

DOL collaborated with CSPF and others on steps intended to improve the plan's inancial position, including contributing to discussions on proposed legislation and working with CSPF on its application to reduce benefits under the Vultiemployer Pension Reform Act of 2014. The application was not approved oy the U.S. Department of the Treasury.

Those who made adjustments were stuck with them....

....those who didn't got more.

From there these funds were negotiated more "evenly" in subsequent contracts.

 

[Thebrownblob]

Go back and look at the facts. That pension fund was in serious trouble as soon the government stepped in and deregulated the trucking and transportation industry

I fixed it for you since you’re having a hard time with this.

Similar to the fact, you had a problem understanding that you having the money to pay back a student loan that either you or one of your kids owed and wanting the government to do it for you makes you just as much of a “thief” as you claim everyone else is. Even though the government doesn’t have control of your finances and decisions like they do the pensions.

 

[Thebrownblob]

I read when the bailout was being discussed, that it would make all the pensioners that had been cut, meaning central, whole with back pay. The PBGC is the one that makes the determination to cut back, no?

For sure when the PBGC was going to step in they were going to make cuts. They would not allow the trustees to make originally it was kind of a crazy system. The government controlled the whole thing.

 

[UnionStrong]

For sure when the PBGC was going to step in they were going to make cuts. They would not allow the trustees to make originally it was kind of a crazy system. The government controlled the whole thing.

I must’ve misread it. I believe they wanted to cut it in half?

 

[Thebrownblob]

I must’ve misread it. I believe they wanted to cut it in half?

I think some of those people would only have gotten $1000 or something crazy like that I can’t remember it was awful.

It was enough people that they were worried it would tank the economy

 

[UnionStrong]

I think some of those people would only have gotten $1000 or something crazy like that I can’t remember it was awful.

It was enough people that they were worried it would tank the economy

Exactly, that’s why the bailout also.

 

[kxs783kms]

Zero illegal crossings lmaooooooooooooo. Boy these people jump at anything I see. Got them right where he wants them smh

 

[Pee Bottle]

Now that the Supreme Court has ruled against activist judges putting nationwide injunctions on everything Trump does including legit deportations, we should see it pickup. Zero illegal crossings last month is a remarkable place to be after the disaster that was Brandon.

My children are minorities in their cohort. A 40 percent White American minority. They do not have a home. Something needs to happen.

 

[bottomups]

Do a little studying and you’ll find out it absolutely had the greatest impact on the central states pension fund. There’s really no question. About it and that was a Democrat president who enacted it. Hundreds of trucking and transportation,companies went out of business throughout the 80s and 90s many of them union.


LTL TRUCKING COMPANY BANKRUPTCIES & SHUTDOWNS
1980s
COMPANY HEADQUARTERS YEAR CEASED OPERATION NOTES
Admiral-Merchants Motor Freight Inc. St.Paul, MN. early 1980s only LTL operations closed
American Freight System Overland Park, KS. 1988 _
Bender & Loudon Motor Freight Akron, OH. 1989 _
Blue Line Express Nashua, NH. 1989 _
Boss-Linco Lines Inc. Buffalo, NY. 1982 _
Branch Motor Express New York, NY. 1984 _
Brigg’s Transportation St. Paul, MN. 1984 _
Brown Express Inc San Antonio, TX. 1988 subsidiary of U.S. Truck Lines
Campbell’s 66 Express Inc Springfield, MO. 1986 _
Central Transport Sterling Heights. MI. 1983 _
Central Truck Lines Inc. Tampa, FL. 1989 subsidiary of U.S. Truck Line since 1965
Chippewa Motor Freight Inc. Eau Claire. WI. 1980 _
Clairmont Transfer Co. Escanaba. MI. 1985 _
Cleveland, Columbus, & Cincinnati Highway Inc. Cleveland. OH. 1988 subsidiary of U.S. Truck Lines
Commercial-Lovelace Motor Freight Columbus, OH. 1985 _
Cooper-Jarrett Motor Freight Lines Inc. Orange, NJ. 1981 _
C.W. Transport Inc. Wisconsin Rapids, WI. 1988 _
Davidson Transfer & Storage Co. Baltimore, MD. 1983 _
Eazor Express Pittsburgh, PA. 1983 _
Gateway Transportation La Crosse, WI. 1983 subsidiary of Maislin Brothers
Glendenning Motorways Inc. St. Paul, MN. 1983 _
Gordon’s Transports Inc Memphis, TN. 1983 _
Gross Common Carriers Wisconsin Rapids, WI. late 1980s _
Hall’s Motor Transit Co. Mechanicsburg, PA. 1986 _
Hannibal-Quincy Truck Lines Inc. Quincy, IL. 1983 only LTL operations closed
Hemingway Transportation New Bedford, MA. 1982 _
Holmes Transportation Framingham, MA.? 1989 _
Horn’s Motor Express Inc. Chambersburg, PA. 1989 _
Illinois-California Express (ICX) Denver,. CO. 1984 _
IML Freight Inc Salt Lake City, UT. 1984 _
Intercity Transportation Easton, MA. 1980 _
Interstate Motor Freight System Grand Rapids, MI. 1984 _
Johnson Motor Lines Charlotte, NC. 1980 _
Jones Motor Co Inc Spring City, PA. 1981 only LTL operations closed
Lee Way Motor Freight Inc. Oklahoma City, OK. 1985 _
Maislin Brothers Transport Ltd. La Salle, Que,CAN 1983 _
Mason & Dixon Lines Inc Kingsport, TN. 1984 _
McLean Trucking Co. Winston-Salem, NC. 1986 subsidiary of Meridian Express
Milne Truck Lines Inc Salt Lake City, UT. 1987 subsidiary of Sun Carriers Inc.
Motor Freight Express System York, PA. 1982 _
Murphy Motor Freight Lines Inc. St. Paul, MN. 1987 _
Mushroom Transportation Philadelphia, PA. 1986 _
Oneida Motor Freight Inc. Carlstadt, NJ. 1985 _
Pilot Freight Carriers Inc. Winston-Salem, NC. 1989 _
Quinn Freight Lines Brocton, MA. 1983 subsidiary of Maislin Brothers
Richmond Cartage Inc. ? 1983 subsidiary of Maislin Brothers
Rimes Trucking Co. Chardon, OH. early80s _
Ringsby Truck Lines Inc. Denver, CO. 1984 _
Smith’s Transfer Corp. Staunton, VA. 1988 purchased 1987 by American Freight System
Spector-Red Ball Dallas, TX. 1982 _
Sterling Transit Company Inc. Montebello, CA. 1989 _
Suburban Motor Freight Inc. Columbus, OH. 1987 _
System 99 Oakland, CA. 1987 _
Taynton’s Freight System Inc. Wellsboro, PA. 1985 _
T.I.M.E.-D.C. Inc. Lubbock, TX. 1988 _
Tose-Fowler Inc. Bridgeport, PA. 1989 _
Transport Motor Express Inc. Ft. Wayne, IN. 1980 _
Tucker Freight Lines South Bend, IN. 1983 _
Wilson Freight Co. Cincinnati, OH. 1980 _


LTL TRUCKING COMPANY BANKRUPTCIES & SHUTDOWNS
1990s
COMPANY HEADQUARTERS YEAR CEASED OPERATION NOTES
AAA Trenton, NJ. 1990 _
Allegheny Freight Lines Winchester, VA. 1990 _
ANR Advance Transportation Co. Milwaukee, WI. 1998 _
Arrow Carrier Corp North Bergen, NJ. 1990 _
Atlanta Motor Lines Conley, GA. 1997 _
Bee Line Motor Freight Co. Omaha, NE. 1996 _
Be-Mac Transport Co St. Louis, MO. 1992 subsidiary of U.S. Truck Lines
Birmingham Nashville Express Nashville, TN. 1996 only LTL operations closed
Bowman Transportation Gadsden, AL/Atlanta, GA. 1990 _
Brown Transport Corp. Atlanta, GA/Charlotte, NC. 1990 Thurston Motor Lines bought 1987
Central Storage & Transfer Co. Harrisburg, PA. 1991 _
Charlton Brothers Hagerstown, MD. 1996 _
Churchill Truck Lines Inc Chillicothe, MO. 1994 _
Coles Express Inc. Bangor, ME. 1997 shut down, subsidiary of Roadway
Commercial Motor Freight Inc. of IN Indianapolis, IN. 1983 _
Edson Express Casper, WY/Denver, CO. 1991 _
Fore-Way Express Inc. Wausau, WI. 1996 _
Friedman Express Wilkes-Barre, PA. 1993 _
Holmes Freight Lines Omaha, NE. 1998 _
Hover Trucking Co. South Bend, IN. 1996 _
Hyman Freightways Inc. St. Paul, MN. 1997 _
Ideal Truck Lines Norton, KS. 1996 _
Inter-City Truck Lines Mississauga, Ont,CAN 1993 _
Interlink Freight Systems Toronto, Ont,CAN 1997 ex CP Express & Transport
Jones Truck Lines Inc. Springdale, AR. 1991 subsidiary of Sun Carriers Inc.
Merchants Fast Motor Lines Inc Abilene, TX. 1997 _
Middlewest Freightways Inc. St. Louis, MO. 1992 acquired by Be-Mac 1992
Motorways Ltd Toronto, Ont,CAN 1993 subsidiary of Federal Industries
Nationsway Transport Services Commerce City, CO. 1999 _
North Penn Transfer Lansdale, PA. 1992 _
Penn Yan Express Penn Yan, NY. 1990 subsidiary of Consolidated Freightways
P.I.E. Nationwide Inc Jacksonville, FL. 1990 subsidiary of Olympia Holding Co.
Preston Trucking Inc. Preston, MD. 1999 _
Spartan Express Inc. Greer, SC. 1997 shut down, subsidiary of Roadway
Standard Trucking Co. Charlotte, NC. 1993 subsidiary of Sun Carriers Inc
St. Johnsbury Trucking Co Inc. St. Johnsbury, VT. 1993 subsidiary of Sun Carriers Inc.
Transcon Lines Los Angeles, CA. 1990 subsidiary of Olympia Holding Co.
Riss & Co. Inc Kansas City, MO. 1990 _
Willig Freight Lines San Francisco, CA. 1995 _


LTL TRUCKING COMPANY BANKRUPTCIES & SHUTDOWNS
2000s
COMPANY HEADQUARTERS YEAR CEASED OPERATION NOTES
A-P-A Transport Corp North Bergen, NJ. 2002 _
Alterman Transport Lines Opa Locka, FL. 2003 _
Alvan Motor Freight Kalamazoo, MI. June 2008_
American Freightways Harrison, AR. Acquired by FedEx in 2002_
Consolidated Freightways Corp. Vancouver, WA. 2002 _
Crescent Truck Lines Haywood, CA. 2003 _
Crouse Cartage Co. Carroll, IA. 2000 _
Guaranteed Overnite Delivery Newark, NJ. 2004 LTL closed/Remainder closed Dec. 2010.
H&W Motor Express Dubuque, IA. 2002 _
Jevic Transportation Delanco, NJ. June 2008_

I don't argue that deregulation played a large part in failed pension funds.
I was responding to a post that claimed deregulation was pro-union legislation.
Can't have it both ways.