It’s about to get real here in 705!

[Bubblehead]

I hate to break this to you, but if you think you’ll ever really get a pension increase than I am smarter than you. When the stock market dips(and eventually it will) so will the funding percentage. Only 401k contributions will help you now with less and less Teamster jobs.

What's gonna happen to your 401k when the stock market "eventually drops"???

 

[710 steward]

710s pension is in trouble, gonna be below 80% soon. I seriously doubt any other locals presidents are also a BA. That’s right, our president is also still a BA. Just shows how broke 710 is but we have a multi million dollar union hall, yay! We also have a retired BA getting paid to be a “consultant”, receiving 2 pensions. 25 years and $2800 a month is poverty. Where is all this money going? Oh yea it’s being drained by bankrupt trucking companies. Wonder how much is in the strike fund, probably enough for a bologna sandwich.

The fund is hanging around 88%. It is far from broken. However, it can’t sustain an increase either.

Please stop posting. You are embarrassing yourself.

 

[710 steward]

What's gonna happen to your 401k when the stock market "eventually drops"???

My 401k won’t ever run the risk of falling below 80% funded for any reason. The people keeping these funds alive deserve to be rewarded in other ways because pension increases look to be very unlikely.

 

[babboo25]

The fund is hanging around 88%. It is far from broken. However, it can’t sustain an increase either.

Please stop posting. You are embarrassing yourself.

81.2%

 

[babboo25]

The fund is hanging around 88%. It is far from broken. However, it can’t sustain an increase either.

Please stop posting. You are embarrassing yourself.

Nah this is fun

 

[BuckyBadger]

Best I read, 710 was getting news back from UPS on Thursday in Romeoville. Has anything been said about that? What are the chances of 710 getting a contract settled before Peak?

 

[BuckyBadger]

This peak won't be the worse because here at CACH they are giving out $300 weekly bonuses to new hires.

That's great. Doesn't mean squat for some of the other places, including my place where there's no bonus

 

[babboo25]

The fund is hanging around 88%. It is far from broken. However, it can’t sustain an increase either.

Please stop posting. You are embarrassing yourself.

88%???????? I’m so embarrassed

 

[cachmeifucan]

Did you all wear your 8/1 and out shirts?

No we all were wearing moving forward shirt. We will win a better a better contract then most hopefully I actually feel really good about this. It's a mid term election and a local union election and a contract year.

 

[Bubblehead]

My 401k won’t ever run the risk of falling below 80% funded for any reason. The people keeping these funds alive deserve to be rewarded in other ways because pension increases look to be very unlikely.

Maybe your Local will allow UPS to pay their withdraw liability and create a new single payer pension fund, selling out all of the other Teamsters in your Local....


....like they IBT did in regards to the Central States Pension Fund in late 2007?

 

[babboo25]

Maybe your Local will allow UPS to pay their withdraw liability and create a single payer pension fund, selling out all of the other Teamsters in your Local.


....like the IBT did in regards to the Central States Pension Fund in late 2007?

Why should UPS foot the bill for non UPS employees?

 

[710 steward]

View attachment 218744
88%???????? I’m so embarrassed

It was announced at the monthly meeting two months ago it was around 88%. Mailings aren’t accurate after the date they are printed.

 

[babboo25]

It was announced at the monthly meeting two months ago it was around 88%. Mailings aren’t accurate after the date they are printed.

No way it’s up 8%, did they finally sell the $3million Union hall? Or did they take back all the BAs brand new loaded Ford Explorers?

 

[710 steward]

Maybe your Local will allow UPS to pay their withdraw liability and create a new single payer pension fund, selling out all of the other Teamsters in your Local....


....like they IBT did in regards to the Central States Pension Fund in late 2007?

I don’t favor leaving the fund. I favor splitting future increases 50/50. It rewards those keeping it alive and allows those collecting to rest easy that their monthly compensation is safe.

 

[babboo25]

No we all were wearing moving forward shirt. We will win a better a better contract then most hopefully I actually feel really good about this. It's a mid term election and a local union election and a contract year.

Just think if 705 and 710 started negotiations before the national we wouldn’t be dealing with 22.4s. Whats the benefit to having a separate contract if all we do is tweak the national?

 

[DriveInDriveOut]

What's gonna happen to your 401k when the stock market "eventually drops"???

The same thing that happens to the pension fund.

 

[babboo25]

Ok truce @DriveInDriveOut, we are both creative!

 

[Bubblehead]

The same thing that happens to the pension fund.

Short term yes, long term....not necessarily.

 

[Bubblehead]

I don’t favor leaving the fund. I favor splitting future increases 50/50. It rewards those keeping it alive and allows those collecting to rest easy that their monthly compensation is safe.

Are you proposing a "match" scenario, or a "fixed" Company 401k contribution?

 

[BuckyBadger]

Best I read, 710 was getting news back from UPS on Thursday in Romeoville. Has anything been said about that? What are the chances of 710 getting a contract settled before Peak?

Anyone? Bueller?