rod
Retired 23 years
But welfare will always be there. There is always money for those who never work.
Central States - Voices for Pension Security - On Topic Please
- Thread starter Old Man Jingles
- Start date
Delivered
Well-Known Member
CSPF let Kroger withdrawal for $467 Million when the face amount of liability assessment was right at $1 Billion.
It's bankrupt in less than 8 years, even faster should there be a downturn in the market.
The fund has 58,000 active participants and 201,500 retirees and surviving spouses receiving pensions.
It's bankrupt in less than 8 years, even faster should there be a downturn in the market.
The fund has 58,000 active participants and 201,500 retirees and surviving spouses receiving pensions.
Last edited:
Old Man Jingles
Rat out of a cage
Now that you are Old Man Jingles, you should be interested in your pension:
Informational Webinar — Wednesday, May 2 at 6:30 p.m. (CDT)
Online: VoicesForPensionSecurity.com OR By Phone: 877-229-8493, code 114828
Please join us tomorrow, Wednesday, May 2, at 6:30 p.m. (CDT) for this important informational webinar and teletown hall to learn more about Central States Pension Fund’s Congressional Outreach Campaign and how you can protect your Central States pension by raising your voice to help influence the new Joint Select Committee on Multiemployer Pension Funds.
Make Your Voice Heard — Contact Your House Member This Week While They are In-District for Recess
This week, House Representatives are on recess, which means they are at home in their district offices.
We urge you to reach out to your Representative – call and visit them at their district office – and share your personal story of how you have earned your pension, and the impact that losing it would have on you, your family and your community. Click here to find your House Representative.
Visit VoicesForPensionSecurity.com to Stay Informed!
Your voice and your help are vital for success. We encourage you to check our website regularly at www.VoicesForPensionSecurity.com for updates and actions you can take to make your voice heard.
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old levi's
blank space
too little, too late
Catatonic
Nine Lives
And you believe politicians?
brown_trousers
Well-Known Member
Has a pension ever recovered from such a loss?
It might have worked if UPS gave Central states the six point one billion in increments of one point 2 billion over five years.
oldngray
nowhere special
It was just pissing in the wind. There were too many orphan plans in Central States. Didn't help much when the Teamsters let companies get away with not paying what they owed.
Makes me wonder what we can learn from this situation that we could use for the upcoming UPS contract negotiations. Those orphans killed the golden goose in a way. I talk to a lot of old timers drawing from that pension and they don't want to cut it one dime. They want to bleed it dry and not leave any for the guys still paying into it. This logic makes me sick. A guy who retired in 1999 with a 36 thousand a year pension already made 700,000 on his pension. How much do you think those orphan companies put in there?
Bit back in the day, UPS got off cheap by getting into a multi employer plan and paying less into the pension than Master freight did.
Do you have the apples to oranges comparison charts on hand?
Not on hand. But many years ago UPS paid a lot less into the plans and we got the same benefits as the other freight companies that paid more.
oldngray
nowhere special
UPS was still supporting most of the other plans because it was paying in so much.
I have copies of both master plans going back real far. I'll have to look into this. Very interesting, thanks for the idea.
Now they, back then they wasn't. I had frieght guys busting my balls all the time over that.
But now most of this trucking companies are gone and we are left holding the bag...
oldngray
nowhere special
Freight were mostly pissed because their benefits weren't as good.
Bit I know for a long time they paid a lot more into the pension than we did. Some bean counyco never banked on all of them going belly up.Freight were mostlybecause their benefits weren't as good.
Good. Let me know what you find out. I honestly don't remember the numbers from way back then.
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