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Thread: Central states pension: $15.3 billion

  1. #1
    Taking A Stand!!!

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    Default Central states pension: $15.3 billion

    The latest quarterly financial report of the Central States Pension Fund (CSPF) shows that the fund has treaded water during 2017, due to the continued run-up in the stock market. But the underlying problems have only worsened.

    As of June 30, 2017, the fund had $15.3 billion in assets, the same amount it had at the end of 2016. But the number of working participants declined slightly in the past year, to 58,080. The number of retirees also declined slightly, to 202,222.

    The fund would have made more money in the stock market upturn, but has moved out of stocks, in a defensive move to protect declining assets. Only 42% of CSPF assets are in stocks, half of that in index funds, down from 65% stocks as recently as a year ago.

    The Independent Special Counsel Report for the second quarter reviews the problems facing the fund and its projected insolvency, without federal assistance to protect the earned pensions of Teamsters and other workers.

    The financial and analytical report of the health and welfare fund shows a completely different picture: the fund continues to pile up assets.

    The quarterly financial and analytical reports of the pension fund and H&W fund are available only through Teamsters for a Democratic Union. Neither the fund nor the IBT make them available to members.
    Central States Pension: $15.3 billion - Teamsters for a Democratic Union

  2. #2
    On A Mission

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    Default Re: Central states pension: $15.3 billion

    The fund would have made more money in the stock market upturn, but has moved out of stocks, in a defensive move to protect declining assets. Only 42% of CSPF assets are in stocks, half of that in index funds, down from 65% stocks as recently as a year ago.
    Big finance is far beyond any kind of expertise for me. But what the people expect that write up a line like this is beyond me too.

    It seems to me that some kind of forces want the pensions gone.
    And it seems to me that the market has not been a 'free-market'...maybe forever.
    Big money has controls over the stock market, probably to a larger degree than what we would think......so, to me, it would be a good move to not risk that money...........no matter what is done, seems not good enough for a writer like this.

    What would the writer do?
    Keep the money in stocks and risk market manipulators taking the money down?
    Or what?
    2631 likes this.

  3. #3
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    Default Re: Central states pension: $15.3 billion

    The stock market thing is similar to gambling to me.
    https://www.msn.com/en-us/money/mark...cid=spartandhp

 

 

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