I just finished watching a DVD that the IBT sent to employees covered under Central States. It came in the mail today along with my Ballot. It is 45 minutes long, and starts out with hall explaining what happened with the negotiations. Then, a Teamster Pension lawyer explains the details. I learned a lot from it and it explained a lot of things. THIS IS A VERY GOOD PENSION PLAN. If you work one hour on January 1, 2008, you are on the new Plan. There are actually two different plans, some people will qualify to draw from both of them. The Service (25, 30, 35 and out) is restored from the 2003 CS cuts. The Accrued Plan will pay out more if you are a younger employee. There are no Social Security offsets. If I retire with a $3000 a month pension, when I get my $1600 Social Security, then I will get $4600 a month total.
I am amazed at the bad info posted in this forum. I hope that everyone studies the real facts and ask questions from people that know what they are talking about. I am not crazy about a lot of things in this Contract Proposal, but some of it looks good.
I am amazed at the bad info posted in this forum. I hope that everyone studies the real facts and ask questions from people that know what they are talking about. I am not crazy about a lot of things in this Contract Proposal, but some of it looks good.