Teamster Buyout?

Wally

BrownCafe Innovator & King of Puns
Teamsters stole from the taxpayers to prop up their failing pension fund also. Where's the incentive to properly manage a pension fund now?
It's a bottomless rat hole. The Central did nothing to correct their own situation for decades. Not much different than someone on welfare doing zero to correct their own situation.

Local 177 for example, took action, and after voting, put more of their pay into their fund to build it up.
 

burrheadd

KING Of GIFS
It's a bottomless rat hole. The Central did nothing to correct their own situation for decades. Not much different than someone on welfare doing zero to correct their own situation.

Local 177 for example, took action, and after voting, put more of their pay into their fund to build it up.
Thank you for being an example for the rest of us
 

Thebrownblob

Well-Known Member
It's a bottomless rat hole. The Central did nothing to correct their own situation for decades. Not much different than someone on welfare doing zero to correct their own situation.

Local 177 for example, took action, and after voting, put more of their pay into their fund to build it up.
What would’ve been your suggestion? You do know central states attempted to reduce benefits. The government overturned it. Kind of dishonest to say they tried to do “nothing”.

What would’ve been your plan?
 
What would’ve been your suggestion? You do know central states attempted to reduce benefits. The government overturned it. Kind of dishonest to say they tried to do “nothing”.

What would’ve been your plan?
Well, he gave you the answer. Ballot initiative to divert extra funds to pad the fund.
I don't know the logistics of that. But it seems reasonable.
(Not being combative)
 

Thebrownblob

Well-Known Member
Well, he gave you the answer. Ballot initiative to divert extra funds to pad the fund.
I don't know the logistics of that. But it seems reasonable.
(Not being combative)
Also tried, but too many complexities and legalities. The central states is a massive fund, not like smaller ones that can do that..

When the trustees attempted to reduce pensioners payments, the government stepped in and wouldn’t allow them to do that either.

They also petition to try and invest in different areas so they could earn money back and they were not allowed. Like I said, it’s a very complex issue.
 

Wally

BrownCafe Innovator & King of Puns
What would’ve been your suggestion? You do know central states attempted to reduce benefits. The government overturned it. Kind of dishonest to say they tried to do “nothing”.

What would’ve been your plan?
Maybe start 30 plus years ago, extending retirement age, putting more into the pension fund? That's a good start.
 

Wally

BrownCafe Innovator & King of Puns
And you’re certain those things weren’t proposed. And or tried and shut down for numerous reasons?
We're they? Never heard Central guys here mention it?

Any bailout should have automatically included those items automatically. Sucks to be you, but it is what it is. Might have to delay retirement.
 

Thebrownblob

Well-Known Member
We're they? Never heard Central guys here mention it?

Any bailout should have automatically included those items automatically. Sucks to be you, but it is what it is. Might have to delay retirement.
Most people in Central states are really not privy to what was going on in the background. Generally only Executive board members and joint councils hear the reports.

You do of course hear about the ones that failed and almost all of them failed. The government would not allow any reductions.

I’m not giving the trustees and out really I don’t disagree with you. Maybe more could’ve been done, but I do know the things that were were either not allowed or didn’t work. It’s not like they did nothing.
 

anonymous23456

Well-Known Member

Thebrownblob

Well-Known Member
We're they? Never heard Central guys here mention it?

Any bailout should have automatically included those items automatically. Sucks to be you, but it is what it is. Might have to delay retirement.
Sucks to be me? Why would I need to delay retirement? I only had seven years in that fund. The government had a heavy hand inhelping that fund go broke. I really don’t have a problem with them fixing what they broke and continued to break for decades by not allowing the fund to do much of anything.

I did go to all of those meetings with the retirees nervously awaiting the outcome or someone to help them with something they had nothing to do with breaking. I felt very bad for them. Taught me a very valuable lesson don’t count on your other brothers and sisters to give a damn about you and certainly don’t count on the government to help you. I saved accordingly I’ll be fine. Thankfully, in this instance, the same people who paved the path to break it it came to you and now I want to tell you how great they are for fixing what they manipulated to break. I’m not gonna get super excited about that.
 
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