UPS offer on the Table for takeover of Central States fund !
- Thread starter wildgoose
- Start date
I have got thirty in now,was told that the offer will sweeten the pie for us short-timers but the younger ones will take it in the shorts when its teir time to go. You cant believe anyone now!!!! Try going to unionfacts.com and find out how many officers and staff are getting 2 or more salaries and are going to collect 2or 3 pensions from cs. Thats hurting all of us along with dereg
Aw man.Not my room again. I was just trying to make some new friends. Your so unfair!!
As long as we can all still see humor in things, we all still have a chance at seeing eye too eye
Now, a request.
Can you guys please talk to your teamster BA and ask them to get there writers to write a new script of lies, because y'all have been using the same ones for months now and we really need some new material to shoot down and prove wrong.
All you need to do is talk to your teamster official for about 10 minutes and he will give you a whole new list of lies to use.
You know what they say!
"If his lips are moving"
Braveheart
Well-Known Member
Very good points.
krash
Go big orange
ell I'll try, but it's hard to top the whoppers the APWA is usingAs long as we can all still see humor in things, we all still have a chance at seeing eye too eye
Now, a request.
Can you guys please talk to your teamster BA and ask them to get there writers to write a new script of lies, because y'all have been using the same ones for months now and we really need some new material to shoot down and prove wrong.
All you need to do is talk to your teamster official for about 10 minutes and he will give you a whole new list of lies to use.
You know what they say!
"If his lips are moving"
nospinzone
Well-Known Member
Re: "Beyond Repair" . . . Really???
When you go to the benefit charts page, which at the top in large print says Maximum monthly guarantee tables, provided by the PBGC on their website, the benefits are listed by age. Their is also another link on their site which better defines limitations on benefits. PLEASE READ.
I have not exaggerated numbers in my posts. In each post, I have provided sources which offer more detail than what I can type. I expect you to READ these sources to have a complete understanding of the subjects we're discussing.
But what really confuses me is why the PBGC insurance is such a big issue here. When you compare the maximum benefits that a retiree could receive if they were in a multiemployer or single-employer plan, the single-employer retiree would receive almost 3 times more! Again, Page3 paragraph 1. And again, the Teamsters, who manage funds that are 63% funded, do not have projected PBGC benefits on their websites.
You people have been kept in the dark so long with the Teamsters, that you've forgotten how to flip on the light switch for yourselves.
Jon, it will really improve the exchange of ideas here if you and our other participants READ the words I'm typing and READ the sources that I am providing. When I initially mentioned PBGC benefits, I made the statement.... As a participant in a multi-employer plan, if CS folds we would only get around $1200 per month at best. But if we move to a single employer plan, that security increases to $4,000 a month. The source I provided then qualifies the retirement situation that I quoted you. Page 3, paragraph 1. PLEASE READ.
When you go to the benefit charts page, which at the top in large print says Maximum monthly guarantee tables, provided by the PBGC on their website, the benefits are listed by age. Their is also another link on their site which better defines limitations on benefits. PLEASE READ.
I have not exaggerated numbers in my posts. In each post, I have provided sources which offer more detail than what I can type. I expect you to READ these sources to have a complete understanding of the subjects we're discussing.
But what really confuses me is why the PBGC insurance is such a big issue here. When you compare the maximum benefits that a retiree could receive if they were in a multiemployer or single-employer plan, the single-employer retiree would receive almost 3 times more! Again, Page3 paragraph 1. And again, the Teamsters, who manage funds that are 63% funded, do not have projected PBGC benefits on their websites.
You people have been kept in the dark so long with the Teamsters, that you've forgotten how to flip on the light switch for yourselves.
J
JonFrum
Guest
Nospinzone,
I point out the downside of your posts because I assume many readers will not click on your links and read all the qualifying and limiting "fine print."
And to beat this dead horse (hopefully) for the last time, the PBGC "guarantees" for Single-employer funds are insured by a nearly bankrupt PBGC fund, unlike the seperate Multi-employer PBGC fund.
The Single-employer "guarantees" are about three times as large *on paper* only. In practice, since Single-employer funds historically fail 100 times more frequently than Multi-employer funds, you have to include the enormous "100 times" negative factor into the equation.
I point out the downside of your posts because I assume many readers will not click on your links and read all the qualifying and limiting "fine print."
And to beat this dead horse (hopefully) for the last time, the PBGC "guarantees" for Single-employer funds are insured by a nearly bankrupt PBGC fund, unlike the seperate Multi-employer PBGC fund.
The Single-employer "guarantees" are about three times as large *on paper* only. In practice, since Single-employer funds historically fail 100 times more frequently than Multi-employer funds, you have to include the enormous "100 times" negative factor into the equation.
Jon, I've heard this before also but isn't the real difference between a single-employer pension fund and the way the apwa is proposing two different monsters? Yes what you say is true about single-employer pension funds go belly up 100 times faster but putting the money into specific accounts and setting them up basically as indiviual retirement funds more along the lines of what they should be? This keeps us different from those other quys especially if the PBGC funds you talk about are nearly bankrupt. I see your point but I think you feel that the group of ups drivers that started this didn't think of that. The meetings that I attended covered this senario and many more. Again, I don't say I know everything but I have done my home work too. If this is worded differently in the PBGC please elaberate. Because the people I've talked to had a different tune when asked this.
J
JonFrum
Guest
We shouldn't have to join the APWA to get info that affects us all
Badpas,
Much of the confusion in this Labor Relations forum is the result of the persistant secretiveness of the APWA. They are proposing to take over *all* of our pensions, not just Central States, and take over *all* of our union affairs, not just the affairs of their supporters. They are not seeking to breakaway just with their own people and their own people's pension money. They want it all nationwide! This makes it everybody's issue. Yet they adamantly refuse to release the kinds of information we all need to make an informed choice.
Most of us do not have the option of attending an APWA meeting because the APWA has not come to our area. I question how much actual new information I would get at such a meeting anyway. Maybe if it was a week long seminar, but not just a few hours.
If you have inside information, *please* post it. The rest of us are playing at a severe disadvantage because we know big changes are proposed for us, but we can't evaluate the situation properly because all we have to go on is postings from the APWA cheerleading squad. I assume they are not authorized spokesmen, but what are we to do? The card collection campaign is underway; the clock is ticking. We have to make what evaluations we can based on their postings, for lack of anything more official.
Badpas,
Much of the confusion in this Labor Relations forum is the result of the persistant secretiveness of the APWA. They are proposing to take over *all* of our pensions, not just Central States, and take over *all* of our union affairs, not just the affairs of their supporters. They are not seeking to breakaway just with their own people and their own people's pension money. They want it all nationwide! This makes it everybody's issue. Yet they adamantly refuse to release the kinds of information we all need to make an informed choice.
Most of us do not have the option of attending an APWA meeting because the APWA has not come to our area. I question how much actual new information I would get at such a meeting anyway. Maybe if it was a week long seminar, but not just a few hours.
If you have inside information, *please* post it. The rest of us are playing at a severe disadvantage because we know big changes are proposed for us, but we can't evaluate the situation properly because all we have to go on is postings from the APWA cheerleading squad. I assume they are not authorized spokesmen, but what are we to do? The card collection campaign is underway; the clock is ticking. We have to make what evaluations we can based on their postings, for lack of anything more official.
Last edited:
