Pension changes?

[Wally]

The New England Teamsters Pension Fund (NETPF) has floated an increase in the retirement age from 57 to 64 ...

Any pension in trouble should be doing this first. Sucks to be you if you are in these plans, but it is what it is. How different asset wise would the Central Plan be today if decades ago, they adopted a similar blueprint?

 

[Thebrownblob]

The New England Teamsters Pension Fund (NETPF) has floated an increase in the retirement age from 57 to 64 ...

Any pension in trouble should be doing this first. Sucks to be you if you are in these plans, but it is what it is. How different asset wise would the Central Plan be today if decades ago, they adopted a similar blueprint?

Perhaps, but since the government helped break these pensions, it’s only fair they do something to fix them. Not to mention corporations get bailed out no trouble but when a little guy who busted his ass for 30 or 40 years just wants to get his pension. They wait till the last minute and now we feel like they did us a favor?

 

[Wally]

Perhaps, but since the government helped break these pensions, it’s only fair they do something to fix them. Not to mention corporations get bailed out no trouble but when a little guy who busted his ass for 30 or 40 years just wants to get his pension. They wait till the last minute and now we feel like they did us a favor?

Had 30 years, did nothing.

 

[Thebrownblob]

Had 30 years, did nothing.

Are you sure about that? What could they do legally? and how many protests did they have to push against any changes? I was right in the thick of it. Plenty was tried.

 

[PT Car Washer]

Had 30 years, did nothing.

They raised the monthly Pension payout.

 

[Thebrownblob]

They raised the monthly Pension payout.

And?

 

[PT Car Washer]

And?

Broke the bank.

 

[Thebrownblob]

Broke the bank.

Really that’s what broke the bank? Of all people you’re saying that? It wasn’t years of the government deregulation companies going out of business. Corporate bailouts, golden balloons for CEO’s,? And you’re going to complain about some blue-collar workers who went to work every day paid their taxes for 30 and 40 years getting 3 to $5000 a month.? Sorry I’m not going to blame the little guy who worked his whole life, and now is in the twilight of his life just ask him for what he was promised. It’s about time someone took care of us. Especially when they had such a big hand and making sure they broke it..

 

[UnionStrong]

Really that’s what broke the bank? Of all people you’re saying that? It wasn’t years of the government deregulation companies going out of business. Corporate bailouts, golden balloons for CEO’s,? And you’re going to complain about some blue-collar workers who went to work every day paid their taxes for 30 and 40 years getting 3 to $5000 a month.? Sorry I’m not going to blame the little guy who worked his whole life, and now is in the twilight of his life just ask him for what he was promised. It’s about time someone took care of us.

Golden ballon’s….Lol. Parachutes!

 

[Thebrownblob]

Golden ballon’s….Lol. Parachutes!

Lol I have balloons on the brain

 

[UnionStrong]

Lol I have balloons on the brain

As long as it’s not golden showers.

 

[Thebrownblob]

As long as it’s not golden showers.

 

[retired2000]

That was for Central States

Your fund has to apply for the money from Brandon.

 

[Wally]

And?

And I was wrong. They did not do nothing, they did something, that is foolishly raising the payout.

 

[Thebrownblob]

And I was wrong. They did not do nothing, they did something, that is foolishly raising the payout.

What is a foolish? or was it required? How many meetings did you go to were Proposals were made to reduce benefits paid? How much pushback did they get? I will give you a little hint….

 

[BrownFlush]

Changes had to be implemented to the fund (up he age, etc.) before you got the Brandon money.

 

[Thebrownblob]

Changes had to be implemented to the fund (up he age, etc.) before you got the Brandon money.

Yep, the PBGC decides those parameters .

 

[govols019]

Your fund has to apply for the money from Brandon.

Did he write a check from his personal account?

 

[BrownFlush]

Did he write a check from his personal account?

Hunter’s

 

[Johney]

If you read the article stated with the retirement age is going to go up to age 64.

So there's probably wait until the last minute so people your eligible retired to get out of there before the cuts get put in place

Didn't it also say that it was only going to affect people hired after 2009?