Federal funds to restore Teamsters' pensions, five years after cuts
- Thread starter dudebro
- Start date
ManInBrown
Well-Known Member
Are there any retirees on brown cafe who had their pension cut? Luckily where I am our pension is in great shape at the present time, but clearly it’s no guarantee. That’s why I sock away so much 401k money. I couldnt imagine being retired, getting a check every month and then one day them saying, we have some bad news you’re pension check will now be half of what it was. I would go postal. I remember seeing a video in the parking lot of a hub where a union representative broke the news to a large crowd of hourlies.
Last edited:
UnionStrong
Sorry, but I don’t care anymore.
Yep. You can’t fix stupid
Foamer Pyle
Well-Known Member
The Teamsters screw up a pension, and then defer tax payers to bail them out. While I don’t want anyone’s pension to go belly up, I do not agree with tax payer, having to bailout something they did not contribute to, nor will get any payments from.
rod
Retired 23 years
I hope right after mine is bailed out. .
rod
Retired 23 years
The Teamsters didn't screw up my pension. My pension (Centra States) has been under the control of the US Government for MANY years. It went broke under their watchful eyes so the Gvernment should bail it out.
ManInBrown
Well-Known Member
Why should I pay someone’s student loan with my tax dollars? Their loan is their problem.
Road Dog 56
Well-Known Member
Sounds like Western Conference like where we are.
Learned at an early age never to put all your eggs in one basket. Pension , 401k, Social Security, Cash savings, Real Estate, precious Metals and other options have us pretty well covered.
It would take a meteor to wipe us out.
pkgdriver
Well-Known Member
I believe in 82 when this happened the fund was about 40% funded. Ive been wrong before. Thats why when It was available I maxed out my 401k. First pension check looks like it will be deposited on Dec 1.
Trucking deregulation was probably the biggest hit to Central States. Western Conference was not as dependent on trucking.
retired2000
Well-Known Member
Yes I had my pension cut 29% thanks to the gvt we will be getting it back starting January 1,2023
ManInBrown
Well-Known Member
Wow how much a relief is that, and how exactly did you find out it was being cut? A letter in the mail? Sorry we know that you were promised this amount, but now you’re getting this. Go pound sand. How do people not go postal? Like I said I remember seeing a video somewhere where someone from the hall held a meeting in a hub parking lot breaking the news their pension was being cut something like 50%. I don’t know how he made it out of there alive. Especially the unprepared who put zero in the 401k thinking I got a pension, I’ll be fine. That will have someone working as a Walmart greeter till they’re 75.
I went to a meeting down at the hall about 12 years ago where we got the word that they were making some pension cuts and jacking up retiree healthcare premiums by like 200%. No one from the board had the balls to tell us, they brought in some actuary and stuck him up on stage to give us the news. Some angry dudes at that meeting, took a lot of fresh donuts to calm'em down.
Trucker Clock
Well-Known Member
Central States just got their money.
www.whitehouse.gov
FACT SHEET: President Biden Announces Historic Relief to Protect Hard-Earned Pensions of Hundreds of Thousands of Union Workers and Retirees | The White House
American Rescue Plan prevents pension benefit cuts of roughly 60% in the next few years for over 350,000 Central States Pension Fund workers and retirees
rod
Retired 23 years
Central States just got their money.
FACT SHEET: President Biden Announces Historic Relief to Protect Hard-Earned Pensions of Hundreds of Thousands of Union Workers and Retirees | The White House
American Rescue Plan prevents pension benefit cuts of roughly 60% in the next few years for over 350,000 Central States Pension Fund workers and retirees
PT Car Washer
Well-Known Member
My DRIVE contributions paid off for the old timers.Central States just got their money.
FACT SHEET: President Biden Announces Historic Relief to Protect Hard-Earned Pensions of Hundreds of Thousands of Union Workers and Retirees | The White House
American Rescue Plan prevents pension benefit cuts of roughly 60% in the next few years for over 350,000 Central States Pension Fund workers and retirees
Trucker Clock
Well-Known Member
Thanks for your support.
Its_a_me
Well-Known Member
Yes. Because the money to maintain the retirees standard of living is being stolen from the next generation and the one after that to pay the bill that will eventually come due.
It would be one thing if Boomers left the standard of living of the next generation better off than what they were left---but they didn't. So now they want to enjoy that better standard of living long into retirement age and have the next generations pay for it.
That is the typical Boomer all about me self aggrandizing generation that needs to be shown the political door and forced to face reality. This was a political payback from the democrats because they were elected with major help by the unions. But the politicians don't fear the demographically challenged current workers: they fear the retired demographically helped (hence the nickname Boomers) ones that vote. Which is how we saw the democrats sell the current union railroad workers out. And the current Teamsters of UPS are the next ones that will be sold out come August.
So, yeah everyone under the age of 45...they should be furious. And that anger needs to be directed at the politicians that just piled another foot of rocks above their heads so Boomers can live the good life for a few more years.
UnionStrong
Sorry, but I don’t care anymore.
Similar threads
