prolly right...
Posted on 10/19/2015 4:10:51 PM PDT by afraidfortherepublic
Workers, retirees and their families deserve a second opinion—an independent review by actuarial experts that evaluates alternatives to the drastic pension cuts the Fund plans to impose.
How can the Teamster retirees trust anything they say about the Central States Pension Fund?
http://www.tdu.org/corruption_report_slams_ohio_conference
>>Workers, retirees and their families deserve a second opinion—an independent review by actuarial experts that evaluates alternatives to the drastic pension cuts the Fund plans to impose.<<
Unions screwed the USA — it is great to see the inversion.
“Remember, you get less, when you say Union Yes!”
Portman Introduces Bill to Protect Pensions for 48,000 Ohioans
They support a living wage but they won’t pay one.
Look what you got with Boehner. Now he’ll be receiving an $86,000/year Congressional pension, subsidized by taxpayers.
Friend that ain’t nothing compared to what is coming.
I really feel sorry for those who worked hard and have no idea what has happened to “their” pensions.
Just to be clear I hate the Unions. They have been vehicles for Communism for decades.
Also I was on an executive board for one union many years ago and I know exactly how they operate.
The union scheme is amazing. The bosses make huge, huge money off the members yet they have no liability, produce no product and have no risk. They are leaches and when they get up there they do anything to stay in power.
>>Look what you got with Boehner. Now he’ll be receiving an $86,000/year Congressional pension, subsidized by taxpayers.<<
I can cry on cue. What are my chances?
The Central States Pension Fund became “severely underfunded” while under the supervision of the DOL and U.S. District Court,from 1982 through 2014. These two entities of the government vetted and selected the Wall Street Banks that mismanaged CSPF assets and squandered an estimated $20 Billion through reckless and risky investments. These losses could have been prevented if the DOL would have enforced ERISA, as was their responsibility.
Considering these losses occurred under government supervision, I’m betting there would be more problems with cash flow than you can imagine.
Hoffa’s retirement is the Retirement and Family Protection Plan, an exclusive fund reserved only for International Union officers and the International staff.
Didn’t the Teamsters endorse Nixon, Reagan and GHW Bush?
The only election right now that the IBT is concerned with is re-electing James P. Hoffa President next year.
That, I am.
Since the Multiemployer Pension Reform Act was passed, retirees are not permitted to bring lawsuit under ERISA to challenge legality of reductions.
All we ever hear is that Americans don’t save enough for retirement, depending too much on Social Security. The Teamster retirees saved for 30, 40, 50 years. Now, they’re cut 60%? The Teamster retirees saved, only to have their retirement security threatened.
prolly right...
Email from that ol’ lefty, Ohio Rep. Jim Jordan:
“Thank you for contacting me regarding the pension reforms included in the Fiscal Year 2015 federal spending bill. I appreciate having the opportunity to respond.
As you know, the House considered a consolidated spending bill for FY15 (called the “cromnibus”) in December. This massive bill, which contained more than 1,600 pages and spent more than $1 trillion, combined 12 separate spending bills to fund the various functions of the federal government. These 12 bills should have been debated separately and considered on their own merits.
I voted against the cromnibus, which also included many non-spending provisions. Among the most controversial of these was a major change to pension law allowing plan trustees to make deep cuts in multi-employer pension plans considered to be underfunded. Cuts could be imposed even over the objections of beneficiaries, who would not be allowed to challenge trustees’ actions in court. The Treasury Department could reverse proposed cuts, but only under narrow circumstances.
I know that some beneficiaries in our district have already received letters warning them of potential cuts to their pensions in the near future. People who worked hard for promised pensions—sometimes foregoing pay increases to protect this retirement pay—are having the rules changed on them after they retire.
Legislation has been introduced to repeal the cromnibus’s pension language. I will keep your views in mind should the House consider any such legislation in the current session.
I hope you find this information helpful. For more information on current issues, you can follow me on Facebook and Twitter. Please feel free to contact my office anytime at 202-225-2676 or online at jordan.house.gov with any other questions or concerns you may have.”
Sincerely,
Jim Jordan
http://www.opensecrets.org/orgs/summary.php?id=D000000066
http://www.washingtontimes.com/news/2015/may/20/teamsters-spend-big-on-politics-while-preparing-to/
That’s right. Teamster “pets” Obama and former Rep. George Miller signed the MEPRA and pushed it through the Education and the Workforce Committee after taking their money.
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