Nys teamsters pension & retirement fund

[BigUnionGuy]

Point is, that is one small example of how the trustees waste money.

So what you are saying is....

The trustees are actually dipping into pension money ?

Good chance it is wasted many other ways- or "missing".

Mindless, uninformed speculation.

-Bug-

 

[BrownFlush]

As best as I can tell the with Teamster funds , according to US Dept. of Labor as of 2017 , there is 1 on the endangered list , 8 on critical and declining , and 8 on the critical list. Not bad in the big scheme of things . My fund is critical .
I could make a strong argument that '97 was the best contract .
Hoffa has plenty to do with the shape things are in . While not a trustee nor a stock manipulator , he is running the store .
It seems no matter the local , the year or the trustee , it seems at times they spend money like drunken sailors while the ship is sinking . Flying to Florida always happens and they can always justify it but , it is things like that that scream
" Really ? It sure looks like you are managing the funds well . "
Its not a quick or easy fix but , it is fixable . The give it up talk is not it .
The union is as strong as its leaders . It begins and ends with the boys sittin' at the table.

 

[1989]

As best as I can tell the with Teamster funds , according to US Dept. of Labor as of 2017 , there is 1 on the endangered list , 8 on critical and declining , and 8 on the critical list. Not bad in the big scheme of things . My fund is critical .
I could make a strong argument that '97 was the best contract .
Hoffa has plenty to do with the shape things are in . While not a trustee nor a stock manipulator , he is running the store .
It seems no matter the local , the year or the trustee , it seems at times they spend money like drunken sailors while the ship is sinking . Flying to Florida always happens and they can always justify it but , it is things like that that scream
" Really ? It sure looks like you are managing the funds well . "
Its not a quick or easy fix but , it is fixable . The give it up talk is not it .
The union is as strong as its leaders . It begins and ends with the boys sittin' at the table.

It seems that part of the problem with these critical plans, is that the participants can NEVER accept a lower accrual rate.

 

[BrownFlush]

It seems that part of the problem with these critical plans, is that the participants can NEVER accept a lower accrual rate.

Thats NOT the answer to the problem.

 

[Bubblehead]

It's pretty simple math. When you have more members withdrawing than contributing....

you'll need a heck of a return on your investments, to cover the difference.

So explain to us how Hoffa, through collective bargaining, allowed the single biggest contributor (UPS) and others (Kroger, etc) to withdraw???....

.....and how does it serve to remedy this disproportionate balance of active participants to retirees?

Face it, Hoffa and company for political reasons didn't make the hard choices over the last 20 years and that's why we are facing the tree being cut down, verses pruning a few diseased limbs.


~Bbbl~™

 

[Mugarolla]

It's pretty simple math. When you have more members withdrawing than contributing....

.....and how does it serve to remedy this disproportionate balance of active participants to retirees?

Not how pensions work...or how pensions are supposed to work.

But this is what they turned into. Due to mismanagement, bad investments, market crash, whatever.

They are using the money being put in for me, for my future pension, to pay current retirees. And my money will be gone, the fund will be bankrupt, when it comes time for me to receive back my money that was put into the fund on my behalf.

Sounds awfully familiar to a Ponzi Scheme.

 

[IVE GOTTA PACKAGE 4U]

Not how pensions work...or how pensions are supposed to work.

But this is what they turned into. Due to mismanagement, bad investments, market crash, whatever.

They are using the money being put in for me, for my future pension, to pay current retirees. And my money will be gone, the fund will be bankrupt, when it comes time for me to receive back my money that was put into the fund on my behalf.

Sounds awfully familiar to a Ponzi Scheme.

Amen.

 

[BigUnionGuy]

So explain to us how Hoffa, through collective bargaining, allowed the single biggest contributor (UPS) and others (Kroger, etc) to withdraw???....

.....and how does it serve to remedy this disproportionate balance of active participants to retirees?

Face it, Hoffa and company for political reasons didn't make the hard choices over the last 20 years and that's why we are facing the tree being cut down, verses pruning a few diseased limbs.


~Bbbl~™

Explain to me, this whole "pruning" concept.

Carey started the problem....

 

[What'dyabringmetoday???]

So what you are saying is....

The trustees are actually dipping into pension money ?





Mindless, uninformed speculation.

-Bug-

Whatever you say Big Union Tough Talker. It is amazing that such an important union official has available time to hang out on the internet conversing with mindless, uninformed speculators. (Must have all of your important union business settled).

 

[Bubblehead]

Explain to me, this whole "pruning" concept.

Carey started the problem....

Allegedly, and year prior to Hoffa taking office...

From that point forward, Hoffa did next to nothing until late 2015, when he teamed up with UPS to champion MEPRA.

Too little, too late.


Again, how is allowing UPS and others to withdraw from the Central States not the equivalent of throwing in the towel?

 

[What'dyabringmetoday???]

Allegedly, and year prior to Hoffa taking office...

From that point forward, Hoffa did next to nothing until late 2015, when he teamed up with UPS to champion MEPRA.

Too little, too late.


Again, how is allowing UPS and others to withdraw from the Central States not the equivalent of throwing in the towel?

How dare you question the great Big Union Tough Talker??

 

[BigUnionGuy]

Allegedly, and year prior to Hoffa taking office...

From that point forward, Hoffa did next to nothing until late 2015, when he teamed up with UPS to champion MEPRA.

Too little, too late.


Again, how is allowing UPS and others to withdraw from the Central States not the equivalent of throwing in the towel?

Did you forget....

When Central States cut the accrual rate in 2002 ?


The writing was on the wall.

Thanks to Carey.

 

[Bubblehead]

Did you forget....

When Central States cut the accrual rate in 2002 ?


The writing was on the wall.

Thanks to Carey.

Was that in anticipation of allowing UPS to withdraw from Central States in the following contract?

The dates certainly line up.

 

[Signature Only]

I highly doubt that the general union population would want a 401k contribution instead of a pension. Look at the blowback when management went to 401k contribution instead of pension.

Didn't UPS recently suspend management retirement fund contributions?

 

[UpstateNYUPSer(Ret)]

Didn't UPS recently suspend management retirement fund contributions?

In lieu of 401k contributions.

 

[Signature Only]

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.

You're right about that.

If UPS management conducted themselves in accordance with the collective bargaining agreement there would be greater productivity, profit and stability. Bargaining unit employees are at the mercy of those that see us as slaves.

Work first, then grieve. Being dependent on the integrity of each manager to abide by the contract, its easy for them to abuse, lie, threaten and cheat, continually racking up grievances until they're finally reigned in.

Meanwhile we absorb significant damage, having paychecks messed up or sitting at home after unjust terminations waiting for panel.

Discipline is not used by management to compel compliance to the contract. Rather its used as a weapon to intimidate and mistreat employees.

 

[BrownFlush]

In lieu of 401k contributions.

a Louie Louie , oh no baby , said we gotta go now , yeah ,yeah ,yeah ,yeah .. we gotta go now

 

[BrownFlush]

Didn't UPS recently suspend management retirement fund contributions?

The company ??? Noooooooooooooo way !

 

[BrownFlush]

Not how pensions work...or how pensions are supposed to work.

But this is what they turned into. Due to mismanagement, bad investments, market crash, whatever.

They are using the money being put in for me, for my future pension, to pay current retirees. And my money will be gone, the fund will be bankrupt, when it comes time for me to receive back my money that was put into the fund on my behalf.

Sounds awfully familiar to a Ponzi Scheme.

Sounds awfully familiar to the SS system also . I don't know if looking to the government for bail out money is a wise choice . It would triple the crooks involved .

 

[Dragon]

Didn't UPS recently suspend management retirement fund contributions?

4.5 more years and then we are all on a 401K plan, for those of us that qualify we still get a pension.