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  1. #1
    Getting In The Groove Now.

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    Exclamation New England Teamsters & Trucking Industry Pension Fund Notice

    Benefit Reductions
    Under the Default Schedule, the following Adjustable
    Benefits will be eliminated
    a. Elimination of all early retirement options, i.e., the
    right to receive a Pension prior to age 64
    including:
    1) Early Retirement Pensions
    2) Thirty Year Full Service Pensions
    3) Minimum Thirty Year (75%)
    Service Pensions
    4) Special Service Pensions prior
    to age 64
    5) All Partial Pensions to the extent any
    such pension is tied to one or more of
    the Adjustable Benefits listed above.
    b. Elimination of all Disability Pensions
    prior to age 64

    Full: http://www.nettipf.com/pdf_files/2009 Rehab Plan.pdf

  2. #2
    Getting In The Groove Now.

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    Default Re: New England Teamsters & Trucking Industry Pension Fund Notice

    I assume we all know that this is just the beginning. I had heard that the age was going up but did not think of it going up by as much as 7 YEARS. Now I believe we are in worst shape then we were told. I do not see it far from the government takeover of the pension especially if YRC goes under. Buckle up for the ride of your lives.

  3. #3
    Getting In The Groove Now.

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    Default Re: New England Teamsters & Trucking Industry Pension Fund Notice

    Looks like they are trying to stop as many people as they can from collecting what they worked their asses off for!! and this is the real kicker (Elimination of all Disability Pensions
    prior to age 64)..

  4. #4
    I Am Rocking Now

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    Default Re: New England Teamsters & Trucking Industry Pension Fund Notice

    Not to play "devil's advocate" here, but they have to act in the best interest of the pension fund and it's members. They are required by law to make these benefits changes.

  5. #5
    I Am Rocking Now

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    Default Re: New England Teamsters & Trucking Industry Pension Fund Notice

    Quote Originally Posted by 2631 View Post
    Not to play "devil's advocate" here, but they have to act in the best interest of the pension fund and it's members. They are required by law to make these benefits changes.
    Good point. Nobody likes what's happening but some things will have to change. It's just a damn shame that the changes won't be for the better.

  6. #6
    I Am Rocking Now

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    Default Re: New England Teamsters & Trucking Industry Pension Fund Notice

    This plan was adopted back on Jan 15, 2009. long before Zollars & co. came up with the temporary termination of pension contributions.

  7. #7
    I Am Rocking Now

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    Default Re: New England Teamsters & Trucking Industry Pension Fund Notice

    Quote Originally Posted by 2631 View Post
    This plan was adopted back on Jan 15, 2009. long before Zollars & co. came up with the temporary termination of pension contributions.
    At least the board members were looking down the road. That's no consolation but they all had a pile of you know what thrown onto their plates.

  8. #8
    Getting In The Groove Now.

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    Default Re: New England Teamsters & Trucking Industry Pension Fund Notice

    Quote Originally Posted by 2631 View Post
    This plan was adopted back on Jan 15, 2009. long before Zollars & co. came up with the temporary termination of pension contributions.
    true, but you would have to be a blind man not to see the writing on the wall. these people aren't in these positions just for stature. some of them actually know what they are doing.

  9. #9
    I Am Rocking Now

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    Default Re: New England Teamsters & Trucking Industry Pension Fund Notice

    Not that I like it. But they did not have to apply the disability clause. I feel that one is hitting below the belt. A Friend of mine was just diagnosed with cancer and had to retire.Under their plan him and his family would be left out in the cold. That is B*llsh*t. He worked his thirty years and did not ask for cancer. When someone has a disabilty and can not work they should be given their pension. How about if they shave a bunch of the over head from the administrative cost. If you want to see something way out of line just look at what we pay a year for administrative cost. CSPF alone pays over a hundred million for the H&W and over one hundred million for the Pension funds.

  10. #10
    I Am Rocking Now

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    Default Re: New England Teamsters & Trucking Industry Pension Fund Notice

    Quote Originally Posted by 2631 View Post
    Not to play "devil's advocate" here, but they have to act in the best interest of the pension fund and it's members. They are required by law to make these benefits changes.
    Kinda like what they did last year at 641

 

 
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