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Thread: Houston workers fight for promised pensions

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    Default Houston workers fight for promised pensions

    John Simmons, 68, retired in 2003 from Roadway Express after 12 years with the company. After 44 years of work, he decided that between Social Security, Medicare and retirement funds, he'd be set to still provide for his family.

    But his pension is among thousands in danger of being cut under a recent federal law that allows multiemployer pension plans to temporarily or permanently cut distributions if they can prove they're in danger of running out of money within 15 to 20 years.

    More than 250 enraged retirees and active workers filled the Houston union hall of Teamsters Local 988 Sunday morning to hear how they can fight to keep their retirement funds.
    Houston workers fight for promised pensions - Houston Chronicle

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    Default Re: Houston workers fight for promised pensions

    It looks like John Simmons did 32 years with an orphan company

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    Default Re: Houston workers fight for promised pensions

    Quote Originally Posted by bean View Post
    It looks like John Simmons did 32 years with an orphan company
    Where in that article does it say that ?

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    Default Re: Houston workers fight for promised pensions

    Quote Originally Posted by fxstc07 View Post
    Where in that article does it say that ?
    It doesn't.

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    Default Re: Houston workers fight for promised pensions

    Quote Originally Posted by fxstc07 View Post
    Where in that article does it say that ?
    This is not algebra. It's basic dot connecting. If Johnny is retiring with a pension after 44 years but only had 12 years with Roadway most if not all of his other 32 years had to be with orphan companies. That is not to say they were 32 pension credit years. Maybe he worked for CF in any case John does not have 30 good years and is getting whacked

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    Default Re: Houston workers fight for promised pensions

    Quote Originally Posted by bean View Post
    This is not algebra. It's basic dot connecting. If Johnny is retiring with a pension after 44 years but only had 12 years with Roadway most if not all of his other 32 years had to be with orphan companies. That is not to say they were 32 pension credit years. Maybe he worked for CF in any case John does not have 30 good years and is getting whacked
    Maybe you'll get struck by lightning today also bean? A lot of assumption on your part. What we do know from the information provided is he had 12 years with Roadway.

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    Default Re: Houston workers fight for promised pensions

    Quote Originally Posted by 222lifer View Post
    Maybe you'll get struck by lightning today also bean? A lot of assumption on your part. What we do know from the information provided is he had 12 years with Roadway.

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    The very first paragraph duh!!
    John Simmons, 68, retired in 2003 from Roadway Express after 12 years with the company. After 44 years of work, he decided that between Social Security, Medicare and retirement funds, he'd be set to still provide for his family
    ily.

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    Default Re: Houston workers fight for promised pensions

    Quote Originally Posted by bean View Post
    The very first paragraph duh!!
    44 years of work ... where ?
    He could have had any job, in any industry.
    Assumptions and facts are not the same.
    222lifer likes this.

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    Default Re: Houston workers fight for promised pensions

    Quote Originally Posted by bean View Post
    The very first paragraph duh!!
    ily.
    A total of 44 years of work bean. 32 years that could be time in any industry along with his 12 years with Roadway. There was also mention of retirement "funds." The plural of "fund." Could that mean more than one pension? It's difficult to say without his affirmation. Any thing else is pure speculation.

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    Default Re: Houston workers fight for promised pensions

    Quote Originally Posted by 222lifer View Post
    A total of 44 years of work bean. 32 years that could be time in any industry along with his 12 years with Roadway. There was also mention of retirement "funds." The plural of "fund." Could that mean more than one pension? It's difficult to say without his affirmation. Any thing else is pure speculation.

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    Let's assume since John retired after 12 years with Roadway he was a professional truck driver who was unaware of the term 'orphan' and thought his years of being in the teamster union he could retire with a pension and Social Security and still provide for his family. But John was mistaken
    After 44 years of work, he decided that between , Medicare and retirement funds, he'd be set to still provide for his family

 

 
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