The New Contract And Future Pension Contributions: Are We Ok. Or Are We Robbing Peter To Pay Paul?

[Wally]

I think that got sent to the Western fund

Good, because the Central guys lost the money apparently.

 

[542thruNthru]

Thank you @542thruNthru for contributing!

 

[Over70irregs]

Is it true the Central State Fund administrators sent a bill to all the other Teamster Pension funds in order to pay back the funding sent to deceased participants?

Central States noted that the pension fund does not have access to the Social Security Administration Full Death Master File

No wonder the fund is broke, these guys are idiots. Don't they have a list of current members paying into the fund, and retired members receiving benefits? Do they not ever audit records? How many dead people are receiving monthly checks?

Anyone can access the file online.

Damn… this is why we HAVE to invest on our own also people. You see the evidence. Protect the energy and time that you expend.

 

[Well-Known Member]

I am assuming that is a false sheet…. Please let it be fake.

It is not fake. He left out some important parts of the Funding Notice though.

That 14% is what it is without the $35 Billion from the American Rescue Plan Act. Taking that money into account, the funding is currently 98.5%

 

[Well-Known Member]

The only info that came with the funding percentage sheet was an additional letter that stated that there was 35.8 billion of special financial assistance to get the fund in excellent financial condition. The letter didn't show where that assistance came from.

If you actually read that, you would have seen exactly where the money came from and what the funding percentage is now including that money.

 

[bottomups]

These same people who welcome a taxpayer private pension bailout also bitch about public sector pension funding.

 

[Over70irregs]

Bad $ ruins everything