Western conference fund %100 funded ?

[Cezanne]

I am in the Central States funding area, Currently I am older than your projected retirement age of 51, have 30 years service in, paid the same amount of union dues, had the same amount of monetary contributions per article 34 master. If I were to retire with the same amount of service and age requirement as you stated I would get less than 1500 per month. What would your standard of living be with that kind of payout. The most likable reason for an early retirement under the current Central States funding is that your body breaks down and you are forced to take a medical retirement. Can well understand why you would not be willing to have your Western conference fund combined with the other struggling teamster funds. The fellow Brother and Sisters in these underfunded teamster trusts did nothing to create this problem, it was out of our hands, given to the people who should of known better. Really glad you guys had some accountability with your pension investments and will reap the benefit on retirement. Just trying to point out the injustice on the whole underfunding issue.

Afraid that the final solution will effect all the more healthier teamster trust funds. What would be the union's justication of such difference between the pension benefits and how will they try to correct this problem. One of the solutions that could happen is to align the pension benefits into one broad formula for all teamster members, no matter what trust they currently are under. If this happens do not blame the members in these underfunded plans from draining your funds, this problem was created by politics and very poor investment planning.

 

[homer123]

Per the formula listed on the TDu site a 30 year employee would now get 4950 a month when he retires? Not too shabby.

About 1 year prior to the negotiations for the 2002 contract I sent a letter to Mr. Hoffa & Mr. hall predecessor (with the approval of our Local president) asking why supplement contracts (i.e. pensions & benefits) across the country could not be compared side-by-side & adjustments made to bring them more in line with each other. I know there would never be a national agreement that gave everyone the exact pay because of living costs in different parts of the country, but there are some HUGE differences between conferences. The center mgr (one of the few decent ones; long since fired) had helped me get 2 other contracts in which to compare. I received a reply thanking me for my "detailed" letter & assuring me they were diligently working on the issues I had outlined. Not one item was addressed. Being in the CSPF I was "shocked & awed" that the WSPF received an increase & those of us in the CS had to take a cut. One line from my letter was "In 1997 we went on strike for the benefit of the membership and yet the membership does not enjoy the same benefits."1