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  1. #181
    I Am Rocking Now

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    Default Re: Teamster Pension issues

    Quote Originally Posted by break time View Post
    And another, from the folks that pushed hard for Biden (with nary a word on his crack head kid, who made more in a month (doing nothing) than I did in a year (mandatory max overtime, stress, ruined my health...)).

    https://reason.com/2021/05/27/an-86-...n-moral-hazard
    The system is more interested in the elite who answer to no one,and the bottom feeding pond scum that believe they are entitled.

  2. #182
    I Am Rocking Now

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    Default Re: Teamster Pension issues

    This is from a post on Facebook.. A letter from the 707 pension

    Road Carriers 707 Pension Update
    Road Carriers 707 Pension Fund Update
    This email was sent by the Road Carriers 707 Fund office to keep you informed of any updates to the 707 Pension Fund
    Road Carriers 707 Pension Fund

    Pension Fund Update August 13, 2021
    Our application for Special Financial Assistance is submitted to the PBGC!
    Today our Pension Fund became the first pension fund to submit an application to the PBGC.
    The PBGC is in the process of reviewing our submission and will provide official acknowledgement of receipt of our application after they download the files we sent and completed their initial review.
    Under the statute the PBGC must process our application within 120 days in an expeditious and thorough manner after their acknowledgement of receipt of our application.
    Our pension fund is working closely with the PBGC to insure a timely review and approval of our application. I will continue to keep everyone updated as our application moves through the process.
    Our Fund recently submitted public comments to the PBGC on the interim guidance as it relates to the interest rates used in calculating the amount of Special Financial assistance . This is a long term issue and in will no way impact the immediate relief we are seeking.
    A lot of work was done to complete our application quickly and efficiently. This is shown by the fact we are the first pension fund to submit an application for Financial Assistance. Many thanks to our Lawyers, Actuaries and Fund Office who were prepared to go to work as soon as the application instructions and guidance were released. I made this a priority and thank them for their hard work
    I made a commitment to do everything possible to restore your benefits and solidify the future of your pension fund as quickly as possible. Although there is still much work to do, this was a major step in fulfilling this commitment.
    As always thanks again to Senate Majority leader Chuck Schumer for his continued support.
    Kevin McCaffrey
    President, Teamsters Local 707

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  4. #183
    I Am Rocking Now

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    Default Re: Teamster Pension issues

    Sure seems like a extremely slow process.

  5. #184
    I Am Rocking Now

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    Default Re: Teamster Pension issues

    Quote Originally Posted by 1484-1075 View Post
    Sure seems like a extremely slow process.
    From what I understand it first the PBGC had 4 months to write the rules and then the pension funds had four months to file for help and then four months for the PBGC to accept the applications.. The kicker is that once accepted the pension funds can issue a check for all the cuts or pay it out over 5 years.. And we all know what the pension funds will do..

  6. #185
    New To The Site

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    Default Re: Teamster Pension issues

    Quote Originally Posted by crazy View Post
    From what I understand it first the PBGC had 4 months to write the rules and then the pension funds had four months to file for help and then four months for the PBGC to accept the applications.. The kicker is that once accepted the pension funds can issue a check for all the cuts or pay it out over 5 years.. And we all know what the pension funds will do..
    What I understand is the pbgc first had four months then the funds had to apply with pbgc if they approve they submitt to treasure who in turn have 60 days to forward the money to the funds

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  8. #186
    Resistance is futile.

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    Default Re: Teamster Pension issues

    Quote Originally Posted by TOMMYTUCK View Post
    What I understand is the pbgc first had four months then the funds had to apply with pbgc if they approve they submitt to treasure who in turn have 60 days to forward the money to the funds
    welcome to teamstersonline.com

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  10. #187
    I Am Rocking Now

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    Default Re: Teamster Pension issues

    This is from a Facebook post

    November 28, 2021
    Greetings Pension Warriors,
    Thank you again for your years of dedication to finding a solution to the pension crisis. This would not have happened without the dedication of many groups that formed into the NUCPP (National United Committee to Protect Pensions). One of those groups, the Missouri Kansas City Committee to Protect Pensions (MKCCPP) started a conference call when the pandemic hit and did such a magnificent job that they have agreed to continue to hold regular conference calls to inform NUCPP members and other Pension Warriors of important issues. Thank you to MKCCPP ( Wes, Dave, Tom, Quinta, Cindy, and Connie).
    We are aware that many of you have questions and concerns about the pending PBGC process which is understandable based on all of the various articles that are written and the distracting social media posts that change on a daily basis. The NUCPP has had a great working relationship with the Pension Benefit Guaranty Corporation and therefore they have agreed to partner with the NUCPP for an important conference call, hosted by the MKCCPP. In addition to the NUCPP Board of Directors, a senior staff member from the PBGC will be on the call to shed light on the timeline and answer questions regarding applications and the process. CALL IN AND HEAR IT FIRST HAND FROM THE EXPERTS FROM THE PBGC!
    This conference call will be held on December 9th at 2:00 pm CST, 3:00 pm EST The Conference call number is 1-857-357-0254 Access Code is 329694#
    In order to make the best use of the time and to get the most questions answered, we would like everyone with a question to email your question to nucpp2020@gmail.com NO LATER THAN DECEMBER 5TH. If email is unavailable, please call Bernie Anderson at 414-217-4105 or Dana Vargo at 330-904-5976. Hopefully, this will allow for the main questions to get answered first and allow for a few additional questions.
    Please watch your emails for upcoming calls and updates. For those of you who received a letter rather than an email, if you have an email (perhaps that of a spouse or children), please send that information to Bernie Anderson at nucpp2020@gmail.com to allow us to keep you updated with important information.
    As always, we thank you for your continued support of the NUCPP!
    Take Care and Stay Safe.
    NUCPP Board of Directors
    Dana Vargo, NUCPP Secretary
    danavargo92@gmail.com
    cc: MKCCPP

    This conference call will be held on December 9th at 2:00 pm CST, 3:00 pm EST
    Last edited by crazy; 11-29-2021 at 09:04 AM.

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  12. #188
    I Am Rocking Now

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    Default Re: Teamster Pension issues


  13. #189
    I Am Rocking Now

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    Default Re: Teamster Pension issues

    Copied from a post on Facebook

    Road Carriers 707 Pension Fund Update
    This email was sent by the Road Carriers 707 Fund office to keep you informed of any updates to the 707 Pension Fund
    Road Carriers 707 Pension Fund

    Pension Fund Update December 23, 2021
    On December 21st the PBGC approved its first application for special financial assistance created by the American Rescue Plan Act of 2021.
    The Plan was the Local 138 Pension Plan which covers 1,783 participants. The Local 138 Fund which is a Teamsters Fund was scheduled to run out of money in 2022. The amount of the relief they are seeking is $112.6 million.
    It was always our goal to be the first Fund approved for relief but we always understood our application was more complicated than most. For comparison purposes we are seeking over $750 million or three quarters of a billion dollars in Special Financial Assistance. Needless to say our application requires more review.
    I spoke with the PBGC today and expressed my disappointment, they assured me there are no hold ups and our application is going through the process.
    Our Fund has answered all the PBGC's questions and doesn't expect the need for further clarification. The PBGC made it clear, our application is the largest amount of money requested with the most participants and retroactive benefit payments requiring more scrutiny. The PBGC also reiterated its desire to approve our application as soon as possible.
    I was hoping to have a nice Christmas present for everyone but unfortunately that will not be the case. But I am looking forward to a very Happy New Year. Be assured we are doing everything possible to get our application approved and benefits restored as soon as possible. I feel confident the PBGC wants the same.
    I will continue to keep you updated as our application proceeds through the application process. Feel free to email me with any questions you may have.
    As always, thanks again to Senate Majority leader Chuck Schumer for his continued support.
    Kevin McCaffrey
    President, Teamsters Local 707

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  15. #190
    I Am Rocking Now

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    Default Re: Teamster Pension issues

    More on 707


 

 
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