Union retirees: Don't cut my pension --- Good Read

[710 steward]

This doesn't fall "only" in Hoffa's lap.

The deregulation of the trucking industry, was the initial catalyst.



The Central States re-employment rules are restrictive. (to a degree)



Organizing, is a double edge sword. Not that I disagree with your premise.

The TDU people harp on this constantly.... But, they don't tell the whole truth.


Organizing takes time, and money. My Local is proactive in doing so.

Unfortunately, there is a "diminishing point of return."

For what was spent.... in some situations, the Local will never recover the monetary

expenditure in 15 years. (from dues) Yes, we gained members. But, at what cost ?


Those are the ones you win.



Going back, to deregulation.



The PBGC pays .40 on the dollar. The whole concern, is they will go broke.

Your NY plan, is a prime example.

Only 50-55% funded.... and paying out $5500.00 a month ? (correct me if I'm wrong)



Allow retired Teamsters.... (collecting a pension)

To work for non-Union companies.. that compete with the Union ones.


I will let that, speak for itself.



-Bug-

Bug

I hear you but if we don't allow those collecting to work at what they only know, those companies will fill those positions with someone who has never held a card. It "could" provide growth as that former member can provide insight on how being in a union would be better.

If pensions are going to be cut, and they will be, these folks must be allowed to provide for themselves and their families.

 

[MC4YOU2]

You almost made it. You should have corrected yourself by saying "it's not at all the tea party". You have zero evidence that the tea party hates unions. None.

http://www.salon.com/2012/12/11/koch_brothers_tea_party_cash_drives_michigan_right_to_work_bill/


No, the Tea Party loves the Teamsters. Scott Walker loves the Police, Teachers and Firefighters unions. The Koch Brothers love unions too!

 

[Bubblehead]

Bug

I hear you but if we don't allow those collecting to work at what they only know, those companies will fill those positions with someone who has never held a card. It "could" provide growth as that former member can provide insight on how being in a union would be better.

If pensions are going to be cut, and they will be, these folks must be allowed to provide for themselves and their families.

Seems like a hell of a time in a man's life to learn a new skill or vocation?
When the vocation a man spent his working years in service to has come up short in promised benefits, shouldn't he be able to reenter the workforce with this skill without further loss?

 

[upschuck]

We have some retirees wanting to return to work because of the union saying "UPS" supposedly cutting their pension payouts.

 

[bbsam]

Seems like a hell of a time in a man's life to learn a new skill or vocation?
When the vocation a man spent his working years in service to has come up short in promised benefits, shouldn't he be able to reenter the workforce with this skill without further loss?

Shouldn't he also get to vote on union contracts that directly affect his livelihood?

 

[IVE GOTTA PACKAGE 4U]

We have some retirees wanting to return to work because of the union saying "UPS" supposedly cutting their pension payouts.

That's sad.

 

[brett636]

Shouldn't he also get to vote on union contracts that directly affect his livelihood?

With the exception of the Central States pension buyout the union contracts have little, if any impact on current retirees. Most of us are still in multiemployer plans run by the teamsters and once the money is put into the pot UPS has little influence as to what is done with it.

I too am a bit disappointed by the pension rule change, but it does go along with what I have thought for years now and that is we really can only depend on ourselves to fund our retirement. I feel somewhat bad for the retirees in the article now that what they thought their retirement would become has been turned up on its head, but it looks like most of them are healthy enough to do some kind of work to make up for the shortfall or will have to start drawing social security earlier than they wanted. Where my sympathy ends for them is the fact that they have little if anything saved when they worked for years in a well paying, secure union job where they could have afforded to put something away but chose not too. Choices and lack of making choices comes with its own consequences that could be faced someday. I have been putting money away for my retirement for the last 10 years with 27 or so years to go, and while I recognize not everyone has that oppportunity my guess is these guys did but would rather have that new car or go on vacations instead. Its never to early to begin thinking of all phases of life no matter your age, and retirement is a very big one that I hope most of you are preparing for beyond your promised pensions now that they are somewhat less secure.

 

[710 steward]

With the exception of the Central States pension buyout the union contracts have little, if any impact on current retirees. Most of us are still in multiemployer plans run by the teamsters and once the money is put into the pot UPS has little influence as to what is done with it.

I too am a bit disappointed by the pension rule change, but it does go along with what I have thought for years now and that is we really can only depend on ourselves to fund our retirement. I feel somewhat bad for the retirees in the article now that what they thought their retirement would become has been turned up on its head, but it looks like most of them are healthy enough to do some kind of work to make up for the shortfall or will have to start drawing social security earlier than they wanted. Where my sympathy ends for them is the fact that they have little if anything saved when they worked for years in a well paying, secure union job where they could have afforded to put something away but chose not too. Choices and lack of making choices comes with its own consequences that could be faced someday. I have been putting money away for my retirement for the last 10 years with 27 or so years to go, and while I recognize not everyone has that oppportunity my guess is these guys did but would rather have that new car or go on vacations instead. Its never to early to begin thinking of all phases of life no matter your age, and retirement is a very big one that I hope most of you are preparing for beyond your promised pensions now that they are somewhat less secure.

Best advice I could ever offer you is don't get divorced or get an illness like cancer. No matter how much you save you have no idea what life has in store for you. Kinda like insurance premiums that go up and you can't control it. If you can save millions and I hope you are fortunate to do so, you never really know if you have enough.

 

[oldngray]

Where retirees get hurt is the unexpected healthcare increases after they were promised and planned for a fixed amount. And there are no pension increases to offset those increased healthcare costs. It is a defined pension supposedly fixed upon retirement that will never increase but was not supposed to decrease. No cost of living adjustments so the only possible changes are negative.

 

[brett636]

Best advice I could ever offer you is don't get divorced or get an illness like cancer. No matter how much you save you have no idea what life has in store for you. Kinda like insurance premiums that go up and you can't control it. If you can save millions and I hope you are fortunate to do so, you never really know if you have enough.

That is the one caveat I suppose is the uncertainty of life. Nobody can prepare for what they can't see coming, but honestly this applies to a very small percentage of people. Not to mention that it looks like these people highlighted in the article didn't have anything saved and relied on their pensions entirely to fund their retirement which would make such unforeseen circumstances much worse. There will be bumps in the road no doubt, but life must go on and if you don't feel you have enough saved then don't retire. I hear people complaining all the time about the high seniority drivers who have enough time to leave but choose to stay. I say they earned the right to stay as long as they wish and maybe some are like those you mentioned and simply can't. Others just have lifestyles that can't be financed by a pension that will only pay half or less of their current income. Instead of looking for excuses not too prepare we should look at these people as examples of why preparation is key to the retirement we all want.

 

[BigUnionGuy]

Shouldn't he also get to vote on union contracts that directly affect his livelihood?

Arrogant, (never been Union) contractors....

Aren't even entitled to an opinion.



-Bug-

 

[Atomic_Smurf]

Scott Walker?

Working class people of the once blue state keep showing up in droves to keep him in office despite the millions spent to smear his character. Public sector unions that operate like the ones Walker has been elected over & over again to reform are ones that give unions a bad name.

 

[bbsam]

Arrogant, (never been Union) contractors....

Aren't even entitled to an opinion.



-Bug-

Well since you know my history, you already know that I was union so I can only imagine that you're just trying to be an ass. Or does that come naturally? Now, now, don't get offended. Just hashing out an opinion that I'm not entitled to....

 

[bbsam]

Working class people of the once blue state keep showing up in droves to keep him in office despite the millions spent to smear his character. Public sector unions that operate like the ones Walker has been elected over & over again to reform are ones that give unions a bad name.

We all know public sector unions were just the starting point. You represent labor. Your costs are high. Walker, the Koch brothers and just about every elected official (along with UPS management) has declared war on your future.

 

[Bubblehead]

That is the one caveat I suppose is the uncertainty of life. Nobody can prepare for what they can't see coming, but honestly this applies to a very small percentage of people. Not to mention that it looks like these people highlighted in the article didn't have anything saved and relied on their pensions entirely to fund their retirement which would make such unforeseen circumstances much worse. There will be bumps in the road no doubt, but life must go on and if you don't feel you have enough saved then don't retire. I hear people complaining all the time about the high seniority drivers who have enough time to leave but choose to stay. I say they earned the right to stay as long as they wish and maybe some are like those you mentioned and simply can't. Others just have lifestyles that can't be financed by a pension that will only pay half or less of their current income. Instead of looking for excuses not too prepare we should look at these people as examples of why preparation is key to the retirement we all want.

Without the luxury of hindsight, how is it irresponsible to plan your retirement around a promised pension benefit?
Where does this mindset end?

http://cashmoneylife.com/can-the-us-government-seize-your-401k-or-ira/

 

[710 steward]

Without the luxury of hindsight, how is it irresponsible to plan your retirement around a promised pension benefit?
Where does this mindset end?

http://cashmoneylife.com/can-the-us-government-seize-your-401k-or-ira/

Its the Rush Limbaugh way of life. Me rich guy promises you this but just before it happens I'm gonna pull it. Then tell you it's your responsibility to take care of yourself when supposedly it was part of my salary package.

 

[realbrown1]

We all know public sector unions were just the starting point. You represent labor. Your costs are high. Walker, the Koch brothers and just about every elected official (along with UPS management) has declared war on your future.

Aren't you non union purple?

 

[rod]

My father is collecting from CS. No one is more sick about this situation but me. I warned my father about this 10 YEARS ago!!! That's right 10 years ago and he thought I was dead wrong until today. He will lose $800 a month off his pension. Don't pretend to understand how I feel because you have no idea.

GM and banks create jobs. That's why they got the bail out. Pension funds do not create jobs. I hated the bail out, btw. My opinion is and has been those that created their own mess should clean it up. Those that created the bank fiasco should all be in jail right now with their assets liquidated.

We need to create alternative plans to keep these plans alive for those drawing out of them as well as bolstering retirement for those still working. If you've got a beef take it up with the people who allowed this mess as opposed to those of us trying to create answers.

I'm really not trying to get in a pissing match with you but your idea of washing your hands of the Central States problem and more or less saying "its their problem--let them deal with it' is a slap in the face to your Father and others who have known for years that the plan was in trouble but really had no say in it. All I'm saying is that I'm sick and tired of hearing about how Social Security is going broke and VA programs are being cut but no one ever talks about the screwed up welfare system. Why not cut some fat from that and take care of those who actually worked and paid into the system even if means bankrolling a failing private pension program whos members are rapidly dying off anyway. P.S. I can live with a substantial cut in my pension but I have friends who are going to be hurting when the cuts come. You will probably be taking care of them anyway because I'm sure they will eventually end up on the welfare rolls to some extent.

 

[realbrown1]

Its the Rush Limbaugh way of life. Me rich guy promises you this but just before it happens I'm gonna pull it. Then tell you it's your responsibility to take care of yourself when supposedly it was part of my salary package.

When has Rush Limbaugh ever said or done anything like that? He hasn't, and you are just regurgitating left wing propaganda.
Just stick to the FACTS.

 

[Bubblehead]

I'm really not trying to get in a pissing match with you but your idea of washing your hands of the Central States problem and more or less saying "its their problem--let them deal with it' is a slap in the face to your Father and others who have known for years that the plan was in trouble but really had no say in it. All I'm saying is that I'm sick and tired of hearing about how Social Security is going broke and VA programs are being cut but no one ever talks about the screwed up welfare system. Why not cut some fat from that and take care of those who actually worked and paid into the system even if means bankrolling a failing private pension program whos members are rapidly dying off anyway. P.S. I can live with a substantial cut in my pension but I have friends who are going to be hurting when the cuts come. You will probably be taking care of them anyway because I'm sure they will eventually end up on the welfare rolls to some extent.

Ask Hoffa and Hall how letting UPS, the last viable "cash cow", out of the Central States Pension Fund was a solid move to sure up the fund for the future?
How is that working out?

When it's all said and done, it may have saved my pension, but killed my union.