Teamsters Applaud Treasury Decision to Deny CSPF Cuts, Protect Retiree Pensions

[IVE GOTTA PACKAGE 4U]

That $.18/hr will barely even pay for your family's $400 annual deductible for health and welfare.
You aren't getting a raise.

We don't have a choice. We voted NO,big time. Everyone was so worried about their ing retrocheck....now they got it.

We are getting screwed big time. I wanted all of my future raises going into my 401k plan.

 

[Bubblehead]

They couldn't legally do it until the omnibus passed in the wee hours of the night on December 30th 2014. They maybe could have cut the pensions of the members buy how would you get them to vote to decrease their own pension fund? I think if Jesus came down and told the members to cut their own pensions they wouldn't do it.

Yes, but they could have lobbied the government at any time between '98 and now, like they did to get the legislation that took affect in December of 2014.
This wasn't some "magical development" that just materialized?
It was a calculated effort by both UPS, the Teamsters, as well as some other ailing labor organizations and pension funds.
H and H didn't have their hands tied, they chose to sit on them until the company enlisted their help when it became apparent that the "$6.1 billion band-aid" from 2008 was still going to leave UPS with a significant liability in regards to their contractual guarantee if/when CS failed.

Solutions Not Bailouts

http://www.nccmp.org/forEmails/SolutionsNotBailouts.pdf

 

[BigUnionGuy]

They could have lobbied the government at any time between '98 and now.

"98" ???

That's like almost admitting, RC negotiated sub-standard National agreements at UPS,

and in the freight industry. (not to mention all the white paper contracts)

This wasn't some "magical development" that just materialized.
It was a calculated effort by both UPS, the Teamsters, as well as some other ailing labor organizations and pension funds.

Fact ?

Or.... some sort of quickly aging conspiracy theory ?



-Bug-

 

[beentheredonethat]

"A pension is a promise made by the company to the employee and there is no acceptable reason that promise should be broken." I couldn't agree more with this guy.

The promise of the company was to contribute to the pension fund, which UPS did. UPS even paid more to get out of the plan (6.1 Billion). it was also what UPS wanted to get out of during the work stoppage back in the 90's. For the longest time, UPS didn't even have one seat on the pension committee. The union leaders either overpromised, stole or mismanaged that money.

 

[Bubblehead]

"98" ???
That's like almost admitting, RC negotiated sub-standard National agreements at UPS, and in the freight industry. (not to mention all the white paper contracts)

OK,...sure,...maybe???
That's the assertion being made repeatedly, while ignoring the nearly 2 decades that has followed under H and H's watch.
Blame it on the dead guy?

Fact ?
Or.... some sort of quickly aging conspiracy theory ?

Everything is "aging".

Hoping that people forget is probably your best option....



....hang with it.



~Bbbl~

 

[Inthegame]

OK,...sure,...maybe???
That's the assertion being made repeatedly, while ignoring the nearly 2 decades that has followed under H and H's watch.
~Bbbl~

One of those H's has only been in a "power position" less than 5 years.

 

[Bubblehead]

One of those H's has only been in a "power position" less than 5 years.

So,...when he was a TDU advocate and Ron Carey's "right hand man", that doesn't count?

 

[Brown Spider]

"98" ???

That's like almost admitting, RC negotiated sub-standard National agreements at UPS,

and in the freight industry. (not to mention all the white paper contracts)





Fact ?

Or.... some sort of quickly aging conspiracy theory ?



-Bug-

And how many white paper contracts do you suppose Ron Carey negotiated as General President?

 

[rod]

government bail out

 

[UpstateNYUPSer(Ret)]

government bail out

...of a private pension fund...?

No way.

 

[Bubblehead]

...of a private pension fund...?

No way.

I would tend to agree with the semantics of that statement, were it not for the "Consent Decree" allowing for decades of government oversight of the fund.

 

[UpstateNYUPSer(Ret)]

I would tend to agree with the semantics of that statement, were it not for the "Consent Decree" allowing for decades of government oversight of the fund.

Government oversight was consistent with the rules in place at the time.

 

[Bubblehead]

Government oversight was consistent with the rules in place at the time.

That "government oversight", makes them somewhat culpable for any mismanagement subsequent.
This "oversight" was not "consistent" within Teamster Multi-employer funds.

 

[Bubblehead]

I don't believe it will happen, but there is an argument there.

 

[UpstateNYUPSer(Ret)]

In the late 80's/early 90's our Fund had the envious task of dealing with a surplus. They had 2 choices---give it to the retirees in the form of a pension increase or give it to the government. Our retirees got the raise.

Now we are talking cuts ranging from 20 to as much as 50%.

 

[trickpony1]

They had 2 choices---give it to the retirees in the form of a pension increase or give it to the government. Our retirees got the raise.

I guess ......"saving the surplus for the future"..... wasn't an option?

 

[UpstateNYUPSer(Ret)]

I guess ......"saving the surplus for the future"..... wasn't an option?

Our BA told us that it wasn't an option.

 

[Inthegame]

In the late 80's/early 90's our Fund had the envious task of dealing with a surplus. They had 2 choices---give it to the retirees in the form of a pension increase or give it to the government.

Or they could have lowered the assumption rate, raised the actuarial mortality index, funded the credit balance, given a thirteenth check from margin excesses, increased spousal survivor benefits....

 

[Lead Belly]

Or they could have lowered the assumption rate, raised the actuarial mortality index, funded the credit balance, given a thirteenth check from margin excesses, increased spousal survivor benefits....

Ron did what Ron wanted to get reelected. It is what it is.

 

[realbrown1]

government bail out

Never going to happen.

In fact I think changes to the PBGC that allows them to cover less to make sure they stay solvent.