PobreCarlos
Well-Known Member
PgiSkin;
Not necessarily; I'm fully aware of union pension funds that are well-managed and well-funded. On the other hand, there have been problems. The USW plan went insolvent, as I recall, and we're all aware of the problems the UAW pension has had of late. The Teamsters - at least in several of their plans - have had major problems because they couldn't sustain contributing employers, thus putting even more pressure on those remaining. Of course, that makes those remaining less viable as well, and they tend to fall like dominoes, creating a self-perpetuating problem.
Anyway, one can understand why unions want involvement in their pension trusts. Unfortunately, their involvement isn't always best for those covered. Even more unfortunately, plans like the Teamsters Central States have been saddled with problems since virtually the day they were created.
Not necessarily; I'm fully aware of union pension funds that are well-managed and well-funded. On the other hand, there have been problems. The USW plan went insolvent, as I recall, and we're all aware of the problems the UAW pension has had of late. The Teamsters - at least in several of their plans - have had major problems because they couldn't sustain contributing employers, thus putting even more pressure on those remaining. Of course, that makes those remaining less viable as well, and they tend to fall like dominoes, creating a self-perpetuating problem.
Anyway, one can understand why unions want involvement in their pension trusts. Unfortunately, their involvement isn't always best for those covered. Even more unfortunately, plans like the Teamsters Central States have been saddled with problems since virtually the day they were created.