Here Come A Lot Of Angry Teamsters: One Of America’s Largest Pension Funds Demands A Taxpayer Bailout. Here we go folks. The Democrats created this problem, so now we’re (the US Taxpayers) are supposed to bail them out. Hang on to your money.
Here Come A Lot Of Angry Teamsters: One Of America’s Largest Pension Funds Demands A Taxpayer Bailout. Here we go folks. The Democrats created this problem, so now we’re (the US Taxpayers) are supposed to bail them out. Hang on to your money.
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The disappearance of the money is what happens when crime figures give "donations" to other crime figures. Those who paid in are SCREWED. This is just a snap shot of what is about to happen to the social security funds. Giving money out to buy votes, when it's time to pay out to those who contributed. It's all gone because the takers have gotten it all.
I kinda feel sorry for all the drivers that depended on the union to take care of them. Then again, it's their own damn fault for not taking care of their money and retirement themselves. Unions have been run by thugs, interested only in lining their own pockets, for a hundred years and the members who pay all the dues end up getting the shaft.
Im a Teamster. We just fought a battle with them over our healthcare and won. They wanted to chuck our company plan and we wanted nothing to do with Teamcare. The IBT finally listened to the membership. We voted down a tentative agreement by 93%. So they sent out a survey and asked why the members hated it so much. It was Teamcare we hated most, followed by the companies insulting compensation package. The sorry fks finally listened to us for a change
Maintaining pension benefits in the face of insolvency is like clinging to an anvil when you are drowning.
They should try and get back the political contributions they made to the Democrats = which undoubtedly run the 10s if not 100s of millions. Actually, I'd be in favor of a bail out by congress - with the proviso that union members have to personally okay any use of their own dues for political purposes. Instant pay cut for Democratic campaigns.
I propose they liquidate the trucking companies, sue whomever mishandled the funds, and pay out whatever they get from that to their retirees. I do feel bad for the truckers, but then again... as a driver, i used to pass by them parked under a tree at 5pm in the 7-11 parking lot, sleeping behind their opened morning newspaper, waiting until 7 or 8PM to go rolling back to the barn after their good, long clock-sucking break.
RGB,
I keep forgetting to tell you.
If you had a 401k at IMF, you better roll it over to another account. They decided that they don't want to have former employees accounts in their files, so they're forcibly liquidating them, and besides the Federal income tax penalty, there will also be an administrative fee from the manager of the accounts, so you will end up with less than half of what is left in your account.
Thx for that info, poppajoe49. I personally don't have anything to roll over from them, but i wouldn't mind knowing their boss rolled over... LOL! (Was not there long enough to enroll, actually.)