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  1. #31
    I Am Rocking Now

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    Default Re: How the Teamsters pension disappeared more quickly under Wall Street than the mob

    Quote Originally Posted by bean View Post
    I did the time so I got mine, ya can't lose em all what I know about CSPF, its pension cuts or the affect these cuts will have
    on YRC employees, current or retired is what I read here and what TDU says. I fur got YRC new retirees are not protected from cuts, my bad
    I think I've been reading the same posted information as you. No where have I read anything that protects any CSPF YRC retirees, new or old, from pension cuts. The only exemptions from the MPRA of 2014 allowed cuts are retirees 80 and older and those on disability pensions. I don't know of any special CSPF designation made for any YRC employees.

    bean, I must have missed your answer to my question on if you consider the YRC western funds Teamsters as being pension "orphans".

  2. #32
    bean
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    Default Re: How the Teamsters pension disappeared more quickly under Wall Street than the mob

    Quote Originally Posted by 2631 View Post
    I think I've been reading the same posted information as you. No where have I read anything that protects any CSPF YRC retirees, new or old, from pension cuts. The only exemptions from the MPRA of 2014 allowed cuts are retirees 80 and older and those on disability pensions. I don't know of any special CSPF designation made for any YRC employees.

    bean, I must have missed your answer to my question on if you consider the YRC western funds Teamsters as being pension "orphans".
    Why would I consider the YRC western funds Teamsters as being pension "orphans"? Last I heard WSPF was not accepting partial pension payments. So that ain't doing and good for them.
    According to TDU an orphan is a teamster who did not retire from YRC or the regionals.

    There was a date I can't remember, that if a YRC teamster retired before that date his pension would not be cut. It seems these pension cuts are not just to save CSPF but YRC as well. It's only an assumption but wtf do I know?

  3. #33
    Not So Fast Scabs

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    Default Re: How the Teamsters pension disappeared more quickly under Wall Street than the mob

    Who needs a pension....I'm living without one....not like you high rollers are but I survive....time to start thinking about downsizing, no more NEW CARS, (mines a 1995), no more eating out at the Steak Houses...steak n shake will have to do once a month...you will live...I do

  4. #34
    Scab Hating Union Thug

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    Default Re: How the Teamsters pension disappeared more quickly under Wall Street than the mob

    Quote Originally Posted by BilyWamBam View Post
    Who needs a pension....I'm living without one....not like you high rollers are but I survive....time to start thinking about downsizing, no more NEW CARS, (mines a 1995), no more eating out at the Steak Houses...steak n shake will have to do once a month...you will live...I do
    Right where they want us......The song "16 tons" comes to mind......

    Sent from my SGH-T399 using Tapatalk

  5. #35
    Doh!

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    Default Re: How the Teamsters pension disappeared more quickly under Wall Street than the mob

    Quote Originally Posted by BilyWamBam View Post
    Who needs a pension....I'm living without one....not like you high rollers are but I survive....time to start thinking about downsizing, no more NEW CARS, (mines a 1995), no more eating out at the Steak Houses...steak n shake will have to do once a month...you will live...I do
    I have no doubt that I will survive if/when CSPF cuts my pension.
    But I can promise this... I will not be on here gloating when others lose theirs.
    Make no mistake, pension trustees nationwide are watching
    the situation with Central States....and they will leap at the opportunity to cut pensions,
    all under the pretext of necessity. "We must destroy the village, in order to save it"

  6. Likes ABFwife, crazy, 2631, 222lifer, fxstc07 Liked this post
  7. #36
    Not So Fast Scabs

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    Default Re: How the Teamsters pension disappeared more quickly under Wall Street than the mob

    Quote Originally Posted by x475 View Post
    I have no doubt that I will survive if/when CSPF cuts my pension.
    But I can promise this... I will not be on here gloating when others lose theirs.
    Make no mistake, pension trustees nationwide are watching
    the situation with Central States....and they will leap at the opportunity to cut pensions,
    all under the pretext of necessity. "We must destroy the village, in order to save it"
    You think I'm gloating? Has anyone lost theirs yet? I think I'm the only one who has lost theirs on this site that I know of....think of it as I'm letting everybody know if you lose anything, at least it won't be 100% like I have. I frankly get tired of y'all crying as much as y'all get tired of me crying...just trying to let y'all start thinking about maybe that new car or boat isn't that important. Like I said I have a van that is worth maybe $800 I drive and needs $1000 worth of work done on it. And a lot of y'all are RETIRED and should have your home's paid off, and those that aren't should be THANKFUL your still Working able to write your checks with the hours you want to work, SAVE YOUR MONEY!!! It takes all but $500 of my check to stay in my house and since my wife died and I lost her income I would be gone if not for having...oh ya 3 kids!!!! I have it worse than most of you and I know I have it a LOT BETTER than others.....no GLOATING Here, can't believe you think that....wow

  8. #37
    I Am Rocking Now

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    Default Re: How the Teamsters pension disappeared more quickly under Wall Street than the mob

    Quote Originally Posted by bean View Post
    Why would I consider the YRC western funds Teamsters as being pension "orphans"? Last I heard WSPF was not accepting partial pension payments. So that ain't doing and good for them.
    According to TDU an orphan is a teamster who did not retire from YRC or the regionals.

    There was a date I can't remember, that if a YRC teamster retired before that date his pension would not be cut. It seems these pension cuts are not just to save CSPF but YRC as well. It's only an assumption but wtf do I know?
    I can't argue with something you claim TDU said. I'd sure like to see that link. I give up, you win. If I were a YRC retiree in the CSPFs I'd be praying that your twisted assumption was correct

  9. Likes BilyWamBam Liked this post
  10. #38
    bean
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    Default Re: How the Teamsters pension disappeared more quickly under Wall Street than the mob

    Quote Originally Posted by 2631 View Post
    I can't argue with something you claim TDU said. I'd sure like to see that link. I give up, you win. If I were a YRC retiree in the CSPFs I'd be praying that your twisted assumption was correct
    Central States Slashes Pensions for YRCW Teamsters
    Teamster


    On March 22 the Central States Pension Fund made it official: they slashed the pensions of YRCW Teamsters. YRC Teamsters still working or who retired after Sept. 24, 2010, will be put on the Central States “default schedule” of benefits. This means no more 25- or 30-and-out, no more $100 per year accrual for pre-2004 years. The only pension earned will be the 1%/2% accrual, and it will be payable at age 65.

    Those who retired prior to Sept. 24, 2010 will be unaffected and retain their current benefit level.

    Those retiring under age 65 will be hit with a six percent per year reduction if they retire before July 1. After July 1, the penalty for retiring under 65 will be worse: for example, retirement at age 62 will mean a 26 percent reduction from a pension that has been already reduced.
    here, twist this

  11. #39
    I Am Rocking Now

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    Default Re: How the Teamsters pension disappeared more quickly under Wall Street than the mob

    Quote Originally Posted by bean View Post
    Quote Originally Posted by bean View Post
    Not okay with takin a hit. YRC is liable for orphan pensions. That's what it's all about


    There are two kinds of teamsters in CSPF.. orphan teamsters(265,000) and non-orphan teamsters (135,000) you know who the orphan teamsters are
    It appears that you have hijacked another thread. You have turned a CSPF past investments issue into a pension "orphan" issue..............Now I see where you are getting your assumptions from. The TDU article you have been quoting is 5 years old. The YRC cuts you are referring to were for adjustable benefits during CSPF's restructuring under Bush's amended PPA. Your twisted assumptions are wrong. You are basing the proposed CSPF cuts allowed under the MPRA of 2014 on a TDU article from 2011. You are obsessed with the so called "orphan" issue.

    Go back and read your post #9. You quoted a Market watch article from last week. Click on the link about the CSPF's application to cut the benefits. You'll see that the only ones exempt from the cuts are disability pensions and those retirees over 80. Read the 3 tiered classification of retirees. Everyone except those 2 exempt groups will be cut. That's everyone including the YRC retirees. Yes, Tier I "orphan" will be cut the most but Tire II and III will also be cut under the CSPF application. So IMO your assumption is twisted.

  12. Likes fxstc07, crazy, 222lifer, x475 Liked this post
  13. #40
    I Am Rocking Now

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    Default Re: How the Teamsters pension disappeared more quickly under Wall Street than the mob

    Quote Originally Posted by 2631 View Post
    It appears that you have hijacked another thread. You have turned a CSPF past investments issue into a pension "orphan" issue..............Now I see where you are getting your assumptions from. The TDU article you have been quoting is 5 years old. The YRC cuts you are referring to were for adjustable benefits during CSPF's restructuring under Bush's amended PPA. Your twisted assumptions are wrong. You are basing the proposed CSPF cuts allowed under the MPRA of 2014 on a TDU article from 2011. You are obsessed with the so called "orphan" issue.

    Go back and read your post #9. You quoted a Market watch article from last week. Click on the link about the CSPF's application to cut the benefits. You'll see that the only ones exempt from the cuts are disability pensions and those retirees over 80. Read the 3 tiered classification of retirees. Everyone except those 2 exempt groups will be cut. That's everyone including the YRC retirees. Yes, Tier I "orphan" will be cut the most but Tire II and III will also be cut under the CSPF application. So IMO your assumption is twisted.

    Beanie??? The Master of spin..

 

 
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