Pension Cuts Blocked

[rod]

anyone else getting this news?

 

[oldngray]

I haven't heard any recent news about it.

 

[rod]

I haven't heard any recent news about it.

I had 2 emails from the Teamsters that said the cuts were not authorized

 

[Orion inc.]

The courts just ruled in the retirees favor.

 

[rod]

I will be having an extra beer or three tonight.

 

[rod]

The whole pension cut thing is a long way from over but at least we have a reprieve for a short while.

 

[oldngray]

The problem is what will happen when the fund runs out of money. No way the government will step in and bail us out. It sounds like Central States is saying if the cuts aren't approved we will all get screwed when the fund becomes insolvent.

 

[rod]

The problem is what will happen when the fund runs out of money. No way the government will step in and bail us out. It sounds like Central States is saying if the cuts aren't approved we will all get screwed when the fund becomes insolvent.

Like I said--its a long way from over.

 

[realbrown1]

Why was it blocked?

 

[rod]

When Rep. Kline (Mn.) tacked his pension cut rider onto a bill that had to be passed and then retired shortly afterwards, that just STUNK of dirty under the counter politics. I don't believe anything the Teamsters, UPS or Washington D.C. says anymore.

 

[rod]

I bet a big celebration party is being put on hold at the Teamsters Building.

 

[Wally]

The courts just ruled in the retirees favor.

What if the fund now goes broke?

 

[rod]

What if the fund now goes broke?

I imagine it will at the rate they are going (if they are telling the truth). Something has to be done but cutting a small group of retired old bastards pensions in half was not the fix all that they tried to jam down our throats.

 

[cheryl]

Just posted a news story about this.

Treasury rejects Teamster pension cuts - Star Tribune

The U.S. Treasury Department has rejected the deep retirement cuts sought by the ailing Teamsters Central States Pension Fund, to the cheers of more than a quarter million trucking retirees and workers around the country.

The government’s decision Friday does nothing to solve the dire financial problems of the Central States fund, which faces insolvency in 10 years. Some say the retirement fund’s only hope is a federal bailout.

 

[IVE GOTTA PACKAGE 4U]

Just posted a news story about this.

Sounds like the Whitehouse. Keep sweeping it under the carpet until it's too late.

 

[Wally]

No new jobs or growth in 8 years didn't help either.

 

[IVE GOTTA PACKAGE 4U]

No new jobs or growth in 8 years didn't help either.

Maybe if they made a few small cuts a few years ago,it wouldn't be so bad now?
Now it's just a game of kick the can.

 

[Wally]

Maybe if they made a few small cuts a few years ago,it wouldn't be so bad now?
Now it's just a game of kick the can.

How bad is it?

 

[upschuck]

It was probably because UPS retirees were being cut so deep, when UPS paid big money to get out of that pension.

 

[Wally]

Besides the attempted cuts, what others measures were implemented?