Nys teamsters pension & retirement fund

[1989]

Yep.

In 2002, is when the accrual rate was cut from 2% to 1%.

I was at the meeting in Chicago. Room full of angry Teamsters.





It was part of the Consent Decree in 1982.

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





Fortunately, for UPSer's who retire after 2008....

The company is contractually required to make up any difference in cuts

Central States makes. For now.



-Bug-

How did the western conference survive Wall Street. From 1955 until today. Mobsters didn't rape them first?

 

[BigUnionGuy]

How did the western conference survive Wall Street. From 1955 until today. Mobsters didn't rape them first?

I'm not the expert on the Western Conference fund.

But.... to make an educated guess, they weren't affected by the deregulation

of the trucking industry like Central States was.



-Bug-

 

[rod]

Yep.

In 2002, is when the accrual rate was cut from 2% to 1%.

I was at the meeting in Chicago. Room full of angry Teamsters.





It was part of the Consent Decree in 1982.

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





Fortunately, for UPSer's who retire after 2008....

The company is contractually required to make up any difference in cuts

Central States makes. For now.



-Bug-

and we all know how well the company abides by the contract

 

[Brownslave688]

I'm not the expert on the Western Conference fund.

But.... to make an educated guess, they weren't affected by the deregulation

of the trucking industry like Central States was.



-Bug-

And what would deregulation have to do with it?




Ps don't bother responding. You'll just make my point for me that most pensions are Ponzi schemes.

 

[J92]

Corporations are Ponzi schemes. Marginalizing employees just to earn or maintain a margin regardless of contract or not. Just another variation of slavery and this time no one to keep them in check.

 

[Brownslave688]

Corporations are Ponzi schemes. Marginalizing employees just to earn or maintain a margin regardless of contract or not. Just another variation of slavery and this time no one to keep them in check.

Yeah try again there Tonto.

 

[oldngray]

Corporations are Ponzi schemes. Marginalizing employees just to earn or maintain a margin regardless of contract or not. Just another variation of slavery and this time no one to keep them in check.

Go start your own company if you don't want to work for the man.

 

[1989]

Corporations are Ponzi schemes. Marginalizing employees just to earn or maintain a margin regardless of contract or not. Just another variation of slavery and this time no one to keep them in check.

Ricky?

 

[1989]

And what would deregulation have to do with it?




Ps don't bother responding. You'll just make my point for me that most pensions are Ponzi schemes.

Are you saying pensions don't make investments?

 

[Brownslave688]

Are you saying pensions don't make investments?

Most pensions depend on current employees money to pay past employees benefits.


That's why you always hear the argument that well there's less people paying in than what there are taking out now. That is what the downfall was.

Well if a retirees benefits were based off of money put in and invested on their behalf it shouldn't matter if one dime more goes into the fund.

 

[1989]

Most pensions depend on current employees money to pay past employees benefits.

Is that in their bylaws? Or only after they are mismanaged?

 

[oldngray]

Is that in their bylaws? Or only after they are mismanaged?

It is just how they are set up. Pay as you go instead of investing for the future.

Like Social Security.

 

[Brownslave688]

Is that in their bylaws? Or only after they are mismanaged?

The core problem with pensions is they can never be aggressive enough to give a proper return during and employees early years or conservative to be a safe place for money in their retirement years.


Instead they wonder around hopelessly in the middle somewhere.

 

[1989]

The core problem with pensions is they can never be aggressive enough to give a proper return during and employees early years or conservative to be a safe place for money in their retirement years.


Instead they wonder around hopelessly in the middle somewhere.

Why not? They know our ages. How do insurance companies survive?

 

[Brownslave688]

Why not? They know our ages. How do insurance companies survive?

Why not they know our ages?


I mean is that how little you know about pensions?

It's not like you or I have our own little private account that they manage for us. Lol

 

[rickyb]

 

[Brownslave688]

Lmao funniest line in there is that government sponsored retirement is the #1 most efficient way to fund retirement.

 

[1989]

Why not they know our ages?


I mean is that how little you know about pensions?

It's not like you or I have our own little private account that they manage for us. Lol

How does it work, smart guy?

Maybe your pension is in desperate need of an actuary.

 

[1989]

Lmao funniest line in there is that government sponsored retirement is the #1 most efficient way to fund retirement.

He is describing the difference between a well managed pension and a mismanaged pension.

 

[Brownslave688]

He is describing the difference between a well managed pension and a mismanaged pension.

What he's saying is some of you are morons and don't deserve to handle your own money.