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Pension letter
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<blockquote data-quote="Inthegame" data-source="post: 2601206" data-attributes="member: 37112"><p>I can pull off a little complex math also but this is more simple logic than math.</p><p></p><p>You have 9500 active employees in a local union and you think closing it makes any sense? Do you understand those 9500 members would still be Teamsters absorbed by another local union, with the only savings gained by lessening representation. If your misguided dream were to come true, the Pension fund would actually <strong>lose</strong> funding as the closed local would no longer be contributing on behalf of those local union employees.</p><p></p><p>Furthermore, closing the local doesn't eliminate the pension obligation of those 14000 retirees nor the vested obligation the fund has toward the 9500 actives, including the employees of the closed local. </p><p></p><p>LU officials could give themselves a 100% raise and it would have zero impact on the pension, or are you one of those clever members that think dues funds your pension?</p></blockquote><p></p>
[QUOTE="Inthegame, post: 2601206, member: 37112"] I can pull off a little complex math also but this is more simple logic than math. You have 9500 active employees in a local union and you think closing it makes any sense? Do you understand those 9500 members would still be Teamsters absorbed by another local union, with the only savings gained by lessening representation. If your misguided dream were to come true, the Pension fund would actually [B]lose[/B] funding as the closed local would no longer be contributing on behalf of those local union employees. Furthermore, closing the local doesn't eliminate the pension obligation of those 14000 retirees nor the vested obligation the fund has toward the 9500 actives, including the employees of the closed local. LU officials could give themselves a 100% raise and it would have zero impact on the pension, or are you one of those clever members that think dues funds your pension? [/QUOTE]
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