8 thoughts on “Forbes post, “Could Central States Have Avoided Its Fate? A Reply From The Fund”

  1. Surely the Trustees know the meaning of Fiduciary? Also the losses were “lost”under the mandates of ERISA and should be reinstated as ERISA calls for. And one more observation, the expenses are inline with other plans? I don’t think so. And surely the head Trustee should not be lobbying Congress fore MPRA to cut our benefits especially if he himself agreed to not take said cuts! Asking CS if they did anything wrong is like asking a first grade student if the dog really ate his homework.

  2. What this article fails to mention is that the Department of Labor has been in control of CSPF since 1982 and is still under the control by the way of a Federal Governments Consent Decree. The government is as much, if not completely to blame for the demise of the fund.Goverment Deregulation also wiped out over 11,000 Unionized trucking companies in the eighties along with the IRS refusal to let them become over 100% funded. There’s a lot of information not being brought up in this article.

  3. At this point, what is more insane is that we continue to go to work everyday and work for contributions made to Central States that we will never get back. 100% of the contributions that I have worked for and continue to work for are going to be used to pay someone else’s pension. I will never get back a penny for the decades I’ve worked and contributed to the fund. I should at least be able to stop any further contributions from going into the fund and have them redirected into a retirement account of my choosing. I can manage my money much better than the incompetent trustees and our incompetent Congress. Our pension reminds me of old cowboy movies where the cowboys would herd the buffalo over the side of a cliff. The trustees and Congress are the cowboys and pensioners are the buffalo being ran over the side of a cliff with no say in the matter.

  4. There is also a portion of the discussion that no one talks about, Overnite Transportation employees were trying to become teamsters some locations had active pickets this went on for a couple of years. After Fed Ex bought American Freight UPS had their eyes on Overnite. Eventually. The Teamsters lost their campaign with Overnite and Hoffa was bitter. UPS made Hoffa a deal he could not refuse.
    Let UPS out of central states and Hoffa can have Overnite with no company interference. Hoffa made the deal and the rest is history.

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