optimistic about negotiations

[Joopster]

Let's strike, I could use a break.

 

[moreluck]

joopster.....I hope you were just joking.

 

[LKLND3380]

Those freakin crooks at CS. how could they let it get that bad? Will there be anything left for us when we retire?? Those freakin crooks!!

CS got caught like so many millions of people in bad investments... On top of that some companies that were paying in to the Teamster/CS plan shut down/went bankrupt...

I have been told, the Fed Gov has a system in place that rates these plans and CS in not in the red yet... They are in the yellow and close to orange....

 

[SmithBarney]

Anyone know if "transfers" are being considered as part of the new agreement?

 

[beatupbrown]

People need to saving money in 401k and Roth etc…
I am a Dave Ramsey believer all the way.
I doubt the pension will able to deliver with the promise now,and that includes social insecurity.
Live humble and pre pare for the future.
I lost my ability to work ,but I paid my house off cars etc…

 

[athena]

I have been told, the Fed Gov has a system in place that rates these plans and CS in not in the red yet... They are in the yellow and close to orange....

I assume you are speaking of the coding for level of funding, if not, I apologize. If so, than here is some information from the US Chamber of Commerce.

The Act [Pension Protection Act of 2006] </SPAN>creates new provisions for underfunded multiemployer plans and separates them into two broad categories: (1) plans between 65 percent and 80 percent funded are endangered "yellow zone" plans in immediate financial danger; and (2) plans that are less than 65 percent funded are critical "red zone" plans in need of reorganization.

Here is the link for more information
http://www.uschamber.com/issues/index/retirementpension/multiemployerplans.htm

From what I understand, CS is no where near being 80% funded. At the end of 2005, it was something on the order of 50% funded and more recent estimates (these are the most favorable estimates I have seen) put it at 63% (makeupsdeliver estimate which I think might be skewed to make CS look better) Just my opinion.

 

[LKLND3380]

I assume you are speaking of the coding for level of funding, if not, I apologize. If so, than here is some information from the US Chamber of Commerce.

The Act [Pension Protection Act of 2006] </SPAN>creates new provisions for underfunded multiemployer plans and separates them into two broad categories: (1) plans between 65 percent and 80 percent funded are endangered "yellow zone" plans in immediate financial danger; and (2) plans that are less than 65 percent funded are critical "red zone" plans in need of reorganization.

Here is the link for more information
http://www.uschamber.com/issues/index/retirementpension/multiemployerplans.htm

From what I understand, CS is no where near being 80% funded. At the end of 2005, it was something on the order of 50% funded and more recent estimates (these are the most favorable estimates I have seen) put it at 63% (makeupsdeliver estimate which I think might be skewed to make CS look better) Just my opinion.

That is probably it... I was told we were not in the red or near it... Hmmmmm....