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Thread: Pensions and their future

  1. #31
    I Am Rocking Now

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    Default Re: Pensions and their future

    I just called the IBT again but there wasn't anyone who could answer my simple question as to whether President Hoffa is for or against reduced benefits for current retirees. I was transfered twice and a nice lady offered to take my name and number. But I declined since they have never retured my calls in the past.
    crazy likes this.

  2. #32
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    Default Re: Pensions and their future

    Quote Originally Posted by bean View Post
    http://www.pionline.com/article/2013...on-fund-reform
    pension chop chop
    At a hearing held Tuesday by the House Education and the Workforce Subcommittee on Health, Employment, Labor and Pensions to consider possible legislation, members of the Retirement Security Review Commission discussed their reform proposals, which would allow for reduced benefits for future and possibly current retirees in the most troubled pension funds.

    Captain, in coming torpedoes on da way!!
    http://www.goiam.org/images/articles...otBailouts.pdf
    Hoffa's letter:
    We cannot at this time support any proposal that would cut accrued benefits of participants, including cutting the pension benefits of current retirees in endangered plans
    crazy and 2631 like this.

  3. #33
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    Default Re: Pensions and their future

    That is the kind of responce I expect and welcome from my union. But since that letter is dated Oct 28, 2013 I have to wonder why the IBT communications dept. couldn't have answered my question when I called 3 days ago?

  4. #34
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    Default Re: Pensions and their future

    Quote Originally Posted by 2631 View Post
    That is the kind of responce I expect and welcome from my union. But since that letter is dated Oct 28, 2013 I have to wonder why the IBT communications dept. couldn't have answered my question when I called 3 days ago?

    Because at that time junior and his goon squad were pushing to cut and or eliminate our pensions,.........

    You ever notice that the leadership never takes any cuts and their pensions are always solid???

    Time to take the head off this organization and start over, In my opinion,.......
    2631 and ROADY like this.

  5. #35
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    Default Re: Pensions and their future

    I have a pension question. I was a teamster a long time ago. My father was a teamster is Uncle was a business agent. I worked from 1971-1980 as a teamster and now I'm told I'm not vested because I need 10 years. Can someone validate this for me?

    Thanks You,
    Dennis
    local 59

  6. #36
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    Default Re: Pensions and their future

    Quote Originally Posted by dmello99 View Post
    I have a pension question. I was a teamster a long time ago. My father was a teamster is Uncle was a business agent. I worked from 1971-1980 as a teamster and now I'm told I'm not vested because I need 10 years. Can someone validate this for me?

    Thanks You,
    Dennis
    local 59
    Vesting requirements vary by region and pension fund.
    It used to be 10 years vesting back in the 90's in the Philadelphia area fund.
    Best to ask for a copy of vesting rules from your local pension fund.
    Remember, it's not what it is now, it's what it was when you worked.
    crazy and 222lifer like this.

  7. #37
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    Default Re: Pensions and their future

    Quote Originally Posted by dmello99 View Post
    I have a pension question. I was a teamster a long time ago. My father was a teamster is Uncle was a business agent. I worked from 1971-1980 as a teamster and now I'm told I'm not vested because I need 10 years. Can someone validate this for me?

    Thanks You,
    Dennis
    local 59
    At the time you were in the union you would have had to get ten years to be vested ..It has since been reduced to five ..It goes by the time you were in.. Our government made the laws and the pension funds follow them to the "T".. I also lost many years because of these laws.. There isn't much you can do about it.. For the pension funds it is money that was put there that just got put into the general fund and because of the state of these funds they are hard pressed to give anything up that they don't have too....

 

 
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