How the Teamsters pension disappeared more quickly under Wall Street than the mob

[x475]

Today, the Treasury Department is weighing Central States’ application to cut the retirement benefits of two-thirds of the plan’s more than 400,000 American workers, retirees, dependents and survivors who’ve have waited a lifetime for them.

I have not "waited" a lifetime for my full pension, I worked a lifetime for it.

...Stein argues “it is unlikely” the measure “could have survived any open and transparent legislative process. ...

Of course it would not , that is why in the dead of night they stuck it on the back of a 1500 page budget bill that no one read.

To be clear, Goldman GS +1.05% and Northern Trust NTRS -3.31% did not invest the pension’s money directly. Rather, they hired and oversaw the outside managers who did so, serving as an added layer of oversight for the plan

These outside managers also served as an added layer of suits who got rich while pizzing away the funds assets.

To its credit, the Central States fund outperformed the top tier of its self-selected peers in the three-year period through the first half of 2007.

Giving credit for outperforming funds that they selected for comparison?
You don't suppose they selected funds that did even worse?

Losses under Goldman, Northern Trust accelerated Teamsters cuts - MarketWatch

[BilyWamBam]

Well I'm doing my part by not getting a penny while suffering on ssdi till I'm 65....20 more years!!! If I live that long....

[bean]

I have not "waited" a lifetime for my full pension, I worked a lifetime for it.



Losses under Goldman, Northern Trust accelerated Teamsters cuts - MarketWatch

Today, the Treasury Department is weighing Central States’ application to cut the retirement benefits of two-thirds of the plan’s more than 400,000 American workers, retirees, dependents and survivors who’ve have waited a lifetime for them.

That's about 265,000 orphans. You ain't an orphan. Yellow/Roadway are your parents, hence you're good.

[crazy]

That's about 265,000 orphans. You ain't an orphan. Yellow/Roadway are your parents, hence you're good.

There you go again about "orphans" WE are ALL teamsters,there should be no one considered an orphan.. including you Beanie!!

[2631]

That's about 265,000 orphans. You ain't an orphan. Yellow/Roadway are your parents, hence you're good.

I'll assume that you are only referring to YRC Teamsters in the CSPF. How do you classify YRC Teamsters in the Western funds who are not earning pension credits? Do you consider them as being so called orphans?

[bean]

There you go again about "orphans" WE are ALL teamsters,there should be no one considered an orphan.. including you Beanie!!

There are two kinds of teamsters in CSPF.. orphan teamsters(265,000) and non-orphan teamsters (135,000) you know who the orphan teamsters are

[bean]

Then you have your half-breeds..those with time in YRC and orphan companies. I got 7 years with an orphan company. If the situation worsens I might take a whack on the 7 years with the construction company that dumped the teamsters union over a decade ago

[crazy]

Then you have your half-breeds..those with time in YRC and orphan companies. I got 7 years with an orphan company. If the situation worsens I might take a whack on the 7 years with the construction company that dumped the teamsters union over a decade ago

That's my point Beanie!! You SHOULD'T have to take a hit but you seem to be OK with it.. What are you gonna say when the pension fund wants to cut your pension,not because of an orphan company but because YRC is NOT paying their share.. That would make you a 25% orphan.. You OK with that??

[bean]

That's my point Beanie!! You SHOULD'T have to take a hit but you seem to be OK with it.. What are you gonna say when the pension fund wants to cut your pension,not because of an orphan company but because YRC is NOT paying their share.. That would make you a 25% orphan.. You OK with that??

Not okay with takin a hit. YRC is liable for orphan pensions. That's what it's all about

[crazy]

Not okay with takin a hit. YRC is liable for orphan pensions. That's what it's all about

After connecting the dots on your "orphan BS",I connected the dots for you.. You will be come a 25% orphan because YRC is only paying 25% into the pension.. Now if they stop paying then you become a WHOLE orphan... You OK with that???