- Aug 20, 2002
- 7,319
- 1,555
What has that to with anything? The states have their own retraining programs. If you are referring to me as a Veteran needing relief, I will be exactly where I am when this dust settles.
Don't be duped into being the Teamsters bailout fools
- Thread starter TWU informer
- Start date
Ghost tech
Member
I just put that out there so folks would know. Because some may not want to stay after this is over.
Anomaly
Veteran
- Jun 2, 2012
- 1,220
- 218
TWU informer? Are you a Line A&P?
Anomaly
Veteran
- Jun 2, 2012
- 1,220
- 218
TWU informer opens these smear threads but does not offer a whole and true explanation. Central States Pension Fund, the plan he talks about at the first post of this thread, is a multi-employer plan started by Hoffa senior. Although the plan is supporting over 500,000 Teamster families, it is by most reports, worse off than it has been in better years. You van learn more about it here.
https://www.centralstatesfunds.org/csf
In contract to that, and the benefit of having a union with choices, is another plan called the Western Conference of Teamsters Pension Plan. You can learn more about the plan here. http://www.wctpension.org/
I spoke with one of the few Airline Division Teamsters on the plan to get an accurate perception of the program. He is a mechanic at Continental Micronesia and has been in the plan for a number of years. There are many points to the plan he found favorable, one of which is the funding level even while most other plans were wavering. Another bonus is the safety of the plan. At UAL, our plan was essentially Monopoly money. The company would always tell us what they were contributing to the plan, but at the end of the day, it meant nothing and we were all screwed. The WCT plan has real contributions paid by the company. After payment, the money is invested within the plan and can not be touched or accessed by either the company or the union. Your retirement funds are secured and can only be accessed under the options selected by each individual when at the appropriate age. You don't loose it in bankruptcy. The company can't use it when they are cash strapped. The union can not invest it or redirect it. Nobody can touch it but the individual in the plan.
However, just because a group like UAL or AA may show interest in the plan does not automatically mean we will be accepted. In our case at UA, the average age of the group may be too high and the liabilities become greater. This is the concern with our group. Because our average age of the combined company is 51, we may not qualify to join the WCT. There may be other options with other plans, but the WCT has so far shown to be one of the most stable.
As is the usual case, TWU informer hopes to cause distrust in the Teamsters by posting negative reports without a truthful and full explanation. The ABSOLUTE TRUTH is that many Teamsters do not belong to either of these plans. There is NO bail out of the plan simply by joining the Teamsters. Neither UAL nor Continental are part of any Teamster plan. (Not yet anyway, although many of us would like the idea). The "truthful informer" would like you to believe that the Teamsters needs AA members to support the pensions plan, and by joining you would be automatically enrolled. THIS IS SIMPLY NOT TRUE.
On either Plan websites above, there is contact information. Check it out for yourselves.
https://www.centralstatesfunds.org/csf
In contract to that, and the benefit of having a union with choices, is another plan called the Western Conference of Teamsters Pension Plan. You can learn more about the plan here. http://www.wctpension.org/
I spoke with one of the few Airline Division Teamsters on the plan to get an accurate perception of the program. He is a mechanic at Continental Micronesia and has been in the plan for a number of years. There are many points to the plan he found favorable, one of which is the funding level even while most other plans were wavering. Another bonus is the safety of the plan. At UAL, our plan was essentially Monopoly money. The company would always tell us what they were contributing to the plan, but at the end of the day, it meant nothing and we were all screwed. The WCT plan has real contributions paid by the company. After payment, the money is invested within the plan and can not be touched or accessed by either the company or the union. Your retirement funds are secured and can only be accessed under the options selected by each individual when at the appropriate age. You don't loose it in bankruptcy. The company can't use it when they are cash strapped. The union can not invest it or redirect it. Nobody can touch it but the individual in the plan.
However, just because a group like UAL or AA may show interest in the plan does not automatically mean we will be accepted. In our case at UA, the average age of the group may be too high and the liabilities become greater. This is the concern with our group. Because our average age of the combined company is 51, we may not qualify to join the WCT. There may be other options with other plans, but the WCT has so far shown to be one of the most stable.
As is the usual case, TWU informer hopes to cause distrust in the Teamsters by posting negative reports without a truthful and full explanation. The ABSOLUTE TRUTH is that many Teamsters do not belong to either of these plans. There is NO bail out of the plan simply by joining the Teamsters. Neither UAL nor Continental are part of any Teamster plan. (Not yet anyway, although many of us would like the idea). The "truthful informer" would like you to believe that the Teamsters needs AA members to support the pensions plan, and by joining you would be automatically enrolled. THIS IS SIMPLY NOT TRUE.
On either Plan websites above, there is contact information. Check it out for yourselves.
ThirdSeatHero
Veteran
And again, its worthy to note that while the WCTPP may "presently" be in the green, that is no guarantee of its future status. Take the Central States Plan which is now considered the worst off by far. It too at one time was a healthy plan. Now insert the teamsters back room dealing into the situation...
http://www.youtube.com/watch?v=t6sMMGkAIAU&feature=relmfu
If Hoffa is willing to make backroom deals which adversely affect the Central States Plan, can you be sure he wouldn't do the exact same thing to the Western Conference Plan?
This was just one of the many reason a teamster plan has been shot down at both CAL and UAL.
http://www.youtube.com/watch?v=t6sMMGkAIAU&feature=relmfu
If Hoffa is willing to make backroom deals which adversely affect the Central States Plan, can you be sure he wouldn't do the exact same thing to the Western Conference Plan?
This was just one of the many reason a teamster plan has been shot down at both CAL and UAL.
xUT
Veteran
Similar threads
