Central States going broke---

[rod]

Let's see how long all this takes to shake out

I don't imagine promises will be filled any time soon. Apparently there is enough funds in the plan to keep it going for another 3 and a half years so they won't be rushing anything through at this time. They will make sure all the illegals are taken care of first.

 

[IVE GOTTA PACKAGE 4U]

I don't imagine promises will be filled any time soon. Apparently there is enough funds in the plan to keep it going for another 3 and a half years so they won't be rushing anything through at this time. They will make sure all the illegals are taken care of first.

From what I have read they are going to take care of the plans first and had already made cuts so they can restore them to the retirees first

 

[upschuck]

Let's see how long all this takes to shake out

For him, probably not too long.

 

[IVE GOTTA PACKAGE 4U]

For him, probably not too long.

Too much government redtape

 

[Inthegame]

I don't imagine promises will be filled any time soon. Apparently there is enough funds in the plan to keep it going for another 3 and a half years so they won't be rushing anything through at this time.

Hmmm... Yet in order for any pension plan to succeed the funds in the plan must earn enough in investment returns to pay the continuing liability, without depleting the investible principal. Each day the troubled plans are delayed help is a lost investment opportunity. And here's a little fun fact for the class...the CSPF has had investment returns over the last thirty years in the top 20% of all Pension Funds. The problems with the CSPF are unrelated to their investment managers and objectives.

 

[Karma...]

defined pensions are relics of the past...thats why ups stopped any new ones and will curtail in 2022 addition funds to existing ones.....I think the teamsters will similarize in the near future.....its only a matter of time...

 

[What'dyabringmetoday???]

defined pensions are relics of the past...thats why ups stopped any new ones and will curtail in 2022 addition funds to existing ones.....I think the teamsters will similarize in the near future.....its only a matter of time...

The Teamsters will get ahead of this pension debacle. A lot of talent there.

 

[DELACROIX]

Hmmm... Yet in order for any pension plan to succeed the funds in the plan must earn enough in investment returns to pay the continuing liability, without depleting the investible principal. Each day the troubled plans are delayed help is a lost investment opportunity. And here's a little fun fact for the class...the CSPF has had investment returns over the last thirty years in the top 20% of all Pension Funds. The problems with the CSPF are unrelated to their investment managers and objectives.

Any guesses of when the CSPF will apply for those PBGC funds?

The sooner the better I would imagine ...

 

[IVE GOTTA PACKAGE 4U]

Any guesses of when the CSPF will apply for those PBGC funds?

The sooner the better I would imagine ...

I heard that the funds that are going to get the money first are the ones that already implemented cuts.

 

[Gman33909]

So was this a concession with the Biden administration, they cut all the keystone Pipeline jobs but funded the pensions....

 

[AKCoverMan]

So, believe me, I want every Teamster who was promised pension benefits to have those promises fulfilled, after all I’m in that group too.

But why is it the taxpayers are on the hook for the pension benefits? Drivers in, for example, Central States didn’t drive for the US Govt they drove for UPS, and UPS reaped plenty of profits over the decades over the decades.

I just did our taxes. My sweetie and I are both FT drivers. All in, with income tax, SS and Medicaid taxes we paid little bit more than a quarter of our income direct to DC. And that’s before the “Trillion Dollar Spending Plan of he Week” show the Dems are putting on. Guessing it’ll gonna be one dollar in every three all too soon.

At this rate pensions may be moot point I’ll need to keep working till I drop just to pay taxes.

 

[IVE GOTTA PACKAGE 4U]

So, believe me, I want every Teamster who was promised pension benefits to have those promises fulfilled, after all I’m in that group too.

But why is it the taxpayers are on the hook for the pension benefits? Drivers in, for example, Central States didn’t drive for the US Govt they drove for UPS, and UPS reaped plenty of profits over the decades over the decades.

I just did our taxes. My sweetie and I are both FT drivers. All in, with income tax, SS and Medicaid taxes we paid little bit more than a quarter of our income direct to DC. And that’s before the “Trillion Dollar Spending Plan of he Week” show the Dems are putting on. Guessing it’ll gonna be one dollar in every three all too soon.

At this rate pensions may be moot point I’ll need to keep working till I drop just to pay taxes.

Nothing wrong with a handout Do people need it but the whole bill was written very poorly and I'm not happy with that

 

[AKCoverMan]

Nothing wrong with a handout Do people need it but the whole bill was written very poorly and I'm not happy with that

I agree give people who need it a helping hand, and we’ve had to do a lot of that this year. The problem is once you hand out some sweet sweet government money, seems most people think that money should just keep showing up forever.

 

[IVE GOTTA PACKAGE 4U]

I agree give people who need it a helping hand, and we’ve had to do a lot of that this year. The problem is once you hand out some sweet sweet government money, seems most people think that money should just keep showing up forever.

I'm happy and pissed off at the same time

 

[AKCoverMan]

I guess I would rather see the employers that the Teamsters in CS actually worked for have to clean up the pension obligations to the members rather than you and I have to pay for it with higher and higher taxes.

 

[AKCoverMan]

I'm happy and pissed off at the same time

Lol.. yeah, fair enough.

 

[IVE GOTTA PACKAGE 4U]

Lol.. yeah, fair enough.

Give me a hand up not a handout. It's all buddy**

 

[Jones]

Spent my whole life watching my taxes get spent on stuff that I don't personally approve of like wall street bailouts and endless wars in the middle east. This, I personally approve of and I hope they do more of it. Helping out middle class workers who by the way paid taxes their whole lives will always get a yes vote from me.

 

[rod]

So, believe me, I want every Teamster who was promised pension benefits to have those promises fulfilled, after all I’m in that group too.

But why is it the taxpayers are on the hook for the pension benefits? Drivers in, for example, Central States didn’t drive for the US Govt they drove for UPS, and UPS reaped plenty of profits over the decades over the decades.

I just did our taxes. My sweetie and I are both FT drivers. All in, with income tax, SS and Medicaid taxes we paid little bit more than a quarter of our income direct to DC. And that’s before the “Trillion Dollar Spending Plan of he Week” show the Dems are putting on. Guessing it’ll gonna be one dollar in every three all too soon.

At this rate pensions may be moot point I’ll need to keep working till I drop just to pay taxes.

I would advise you to quit work as long as your wife is a driver and live off her income If that don't work with 2 full time driver incomes you should be able to sock money away like nobodies business even if you are paying high taxes. Pay off your debts and retire early.

 

[AKCoverMan]

Give me a hand up not a handout. It's all buddy**

So one day I pull into rural customer yard with call tag.. guy comes out with medical equipment box, smells of day drinking. Not that I’m against day drinking on a day off, just saying.

Anyway he asks me the “is ups hiring” question and I start giving him my canned gotta-apply-online speech with the warning about having to start part time low wages but he cuts me off..”no, no, no, I don’t want to get hired I just need to show that I’ve tried so I keep getting my government check.”

I somehow managed to remain professional and got out of there, repressing the urge to barf.