PT Car Washer
Well-Known Member
Our Local Union officials are in the Central States plan. I heard they were trying to get under the UPS Teamster plan.
Central States going broke---
- Thread starter rod
- Start date
Really? Might want to check those facts partner...
Out of the 40 locals in the CRT, only Local 455 and Local 17, both based in Colorado, are in the Central Region and the Western States Pension plan.
DELACROIX
In the Spirit of Honore' Daumier
I believe that the International has it’s own pension plan. Not sure who is eligible or are participating. At one time I have read that some of our Union reps are participating in more than one pension trust, and will have the opportunity to collect from multiple pension plans when they retire. I do not know if that has ever changed
Business Agents in my area that were former UPS employees are eligible for the Team Care Retiree health and welfare coverage when they decide to retire. I am in the Central, different rules applies in different conferences, It is hard to keep track on who gets what..
Multiemployer Pension Plan Bailout Update: The Good News, Bad News, And The Pricetag
The multiemployer bailout plan is not as bad as it might have been - but much remains to be seen.
www.forbes.com
The IBT had the Affliliates Plan, which was ended many years ago.
Thanks for the link but that article may have been the most uninformative piece ever written. And someone got paid to write it. smhMultiemployer Pension Plan Bailout Update: The Good News, Bad News, And The Pricetag
The multiemployer bailout plan is not as bad as it might have been - but much remains to be seen.
I have been lurking
Tired hubrat
Brownslave688
You want a toe? I can get you a toe.
They should have went all in on bitcoin
DELACROIX
In the Spirit of Honore' Daumier
She is an actuary...not a journalist...it is hard to understand. I scanned the article and what stuck out for me is that figure of 82 Billion, most of it being payed in 2022. I do not know just how much of that will be going into the Central Trust Plan, which has the biggest liability?
Will that allotment be designated for the PBGC (governmental pension insurers) which is in dire straits also. Really the writing is on the wall with this pension crisis, it comes down to corporations eliminating or bailing out of their pension liabilities. Expect major changes with pension reforms and reducing current pensioners benefits similar to what they tried to do several years ago in the Central and Southern.
401k’s either matched or not will be the new normal now..
different rules for different people......like the saying goes some are more equal than others.......401k's matched or not is truly the new normal.......that absolutely true.....that also gives the freedom of people to change jobs and not lose pensions...it also minimizes the relationships between the firm/companies/unions and the employees/members.......the reality is that only non-union people are actual users....any union person by definition owes their loyalty to the union......thats reality............whats needed also is an american universal health plan to continue worker liberation from both company and union......its all just a matter of time.....the old days are gone ...its a different and new reality.......changing conditions ...adjust......I do
DELACROIX
In the Spirit of Honore' Daumier
A couple of wrongs about your statements.
A. You do not lose your credited pension benefits even if move to another employer. Those earned vested time will stay till you reach the mandatory retirement age of 65 or 70 1/2. You just do not earn any further increases when you leave a plan.
B. Minimizing relationships between employers and employees sounds like legally or illegally manipulating these pension plans for the benefit of the employer. Read ERISA .. people can go to jail if the proper people are willing to prosecute.
I believe that ever pension and health and welfare are tax exempt, it was a good way for corporations to cut their tax liabilities at the end of the year till recently.
C. Your claim of us Union folk not involved in a 401 k plan is ridiculous, you need to get around more. Most of us long term Union employees do have one even if it is not matched like yours. The loyalty statement is confusing, As a long time Union member I own loyalty to the men and women I work with not to the Union Corporate Bosses who throw their members under the bus to protect their personal interests. The members sometimes needs to remember that WE are paying their salaries and that they work for us..
D. Corporate America would love to throw their Health and Welfare and Pension liabilities costs on the federal government. Maintaining benefits plans hurt their bottom lines and cuts their profits. Unfortunately with the election results and this pandemic we probably will be looking at a welfare state benefiting the poor over the not so poor. So one half the country will be supporting the other half with increasing deficits, the Pandora Box has been open and the entitlement beast has been set free.
quad decade guy
Well-Known Member
And the union negotiators. Especially the Big Union Guys. We should have gotten out in 1997.
BigUnionGuy
Got the T-Shirt
That's what the members wanted.
BigUnionGuy
Got the T-Shirt
The IBT also had the Family Plan, which I believe was eliminated also.
DELACROIX
In the Spirit of Honore' Daumier
Trust me on this one:
You cannot trust the Company to work on your behalf if they somehow got the pension in “97”.
I believe that if Carey permitted the vote it would of passed.. a lot of scared people out there who would vote for their own interest and to hades with the rest.
How's this... if that article was written by any other gender, it would have been equally unimpressive.
quad decade guy
Well-Known Member
Ok. It happened anyway. But it's convoluted. But you say we can't trust the company.....but somehow trust the union more?
I don't trust either one.......and expect it to just magically go away some day.
I would love a buy out though.
Not going to happen from CSPF. Maybe from UPS.
I have been lurking
Tired hubrat
How about you take less vaccines and learn sarcasm?
Non sequitur
Well-Known Member
Because it's legal for "investors", think billionaire hedge funds to contract naked shorts. Crony capitalist aka theives control banking and investing. Combine that with payoffs for government and media and you see that the agreement about taxpayers is false.
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