Central States going broke---

[IVE GOTTA PACKAGE 4U]

Don’t the government pension PGBC take over

But when you are in a multi employer plan you get spanked hard

 

[IVE GOTTA PACKAGE 4U]

I don't regret taking SS early either. In this day and age you better take ANY monies it while its available. Its my money and I want it NOW.

I wasn't talking about you taking your social security in certain age I just meant the more years you worked the bigger that check would have been.
they take your best to 35 years of earnings when they calculate your social security payments

 

[542thruNthru]

As it should be

Disagree. Then give me all your raises because my cost of living is higher than yours so I deserve them.

You're pension, your problem. Just like cost of living is my problem.

 

[542thruNthru]

Don’t the government pension PGBC take over

It's going to go bankrupt as well.

 

[542thruNthru]

I seriously doubt if it would come to that. The Teamsters as a whole aren't that close a unit to give up their war chest to help another region out.

The government will do that before bail you out or the PGBC. They just want to kick the can down the road before actually fixing the problem.

 

[Wally]

As it should be

Bull. My local voted to forgo a raise in order to boost our assets, not to bail out a local that ignored a problem.

 

[542thruNthru]

Bull. My local voted to forgo a raise in order to boost our assets, not to bail out a local that ignored a problem.

Yep but that's the way it's going to go.

 

[rod]

The government will do that before bail you out or the PGBC. They just want to kick the can down the road before actually fixing the problem.

The longer they kick it down the road the fewer of us old farts will be around to get paid. I don't want to even guess how many 70 plus year old UPS retirees will kick the bucket in the next 4 years. The ones affected by pension cutoff will probably all be dead and the fund will end up with money left over

 

[old levi's]

Back then the people who worked past 30 years for the most part were fools. For every year past 30 you got an extra 100 bucks a month (up to 5 years). An extra 100 a month (which figures out to about 17 bucks a week after taxes) wasn't worth it to work at UPS. Maybe it is now.

They couldn't retire at 53; do you understand that?

 

[Wally]

Yep but that's the way it's going to go.

No way. Sucks to be them.

 

[542thruNthru]

The longer they kick it down the road the fewer of us old farts will be around to get paid. I don't want to even guess how many 70 plus year old UPS retirees will kick the bucket in the next 4 years. The ones affected by pension cutoff will probably all be dead and the fund will end up with money left over

Yours isn't the only pension that's friend'd. Lots of bad pension out there.

 

[542thruNthru]

They couldn't retire at 53; do you understand that?

Rod paid into his pension like he was supposed to and followed the rules. Him retiring early has nothing to do with his pension crisis.

I don't expect you to understand that though.

 

[rod]

Bull. My local voted to forgo a raise in order to boost our assets, not to bail out a local that ignored a problem.

Once again --- The fund was under the watchful eyes of the United States Government---still is -------------- not some stinkin Local.

 

[542thruNthru]

Once again --- The fund was under the watchful eyes of the United States Government---still is -------------- not some stinkin Local.

I thought it was just being monitored by the government not ran by them.

 

[rod]

They couldn't retire at 53; do you understand that?

Who couldn't retire at 53? Anyone could back them if you had lived within your means and invested your money.

 

[Wally]

Once again --- The fund was under the watchful eyes of the United States Government---still is -------------- not some stinkin Local.

Who runs it currently?

 

[old levi's]

not everyone was able to start full time at age 23

 

[rod]

I thought it was just being monitored by the government not ran by them.

Kind of a fine line. In 85 the government stepped in and took control of it. Over the years I don't know how much of that control was given back to Central States----if any.

 

[old levi's]

you are retired, you sucked the pension fund dry, good for you

 

[rod]

Who runs it currently?

Good question. I don't think anyone takes responsibility for it anymore . We get "sad news letters" from Central States so maybe it all got dumped back into their lap ---- probably.