Two pension plans with the same name and superficial similarities. Two rather different fates. Published by Jane the Actuary View all posts by Jane the Actuary
5 thoughts on “Forbes post, “Actually, Central States’ Pension Plan Is Fully Funded””
Why is it ok for the banks to get bailouts but regular working class people that gave back 15 percent of there wages to secure there pensions when there older don’t get the same treatment. Why do politicians get pensions when the country is 21 trillion in the hole, central states pension still has 15 billion in assets and they are asking for us to take cuts. If we could get rid of the carried interest loophole that the ultra wealthy uses to not pay there fair share of taxes we could use that money to fund our pensions. Wake up America pass the Butch Lewis act.
Dave… you hit the nail on the head! It is not only the Central States…PA. and Ohio Teamsters have been put on notice just 2 months ago. Pensions will be reduced by 30%. People will lose their homes & the Senior Citizens that worked hard for 30 yrs. to secure their vested pensions will have the rug pulled out from beneath them. All I know is….any one running for office better know that if this Act isn’t passed before Aug.they better not count on getting elected in PA or OH! The Democrats say they are for the working class but so do the Republicans…well lets see which one gets the ball rolling…. that’s who will get the blue collar vote.
I am starting a project that collects all of the union office workers in the U.S. who are in Central States and have a future of diminished benefits. My Local 391 Teamsters, pays $1,000,000 ( That is Million with a WTF?) a year for the 13 employees who will see very little in a defined pension in the years ahead. The irony is: The Union is the employer. The members are the financiers. And the Union leaders are powerless to make remedy. And the poor women in our office are too afraid to start yelling about their fate!
Shakespeare , anyone?