anotherdelay
Senior
- Jun 26, 2012
- 255
- 29
I know that the Teamsters Central States was pushing for that one but I'm not sure if I recall it being passed or not? Isn't that last one still kind of lingering out there Tim?
And I'm BY FAR not selling anyone that if given the choice they should get in or get out of the IAMPF. That last funding letter is a case for concern absolutely. I'd like to know (find out) if those future liabilities have now leveled off? Will those liabilities start to go down against what's going in once the Baby Boomers start to croak?
the iampf pension issue is dead. it's not viable without a government bailout. Low interest rates finished them, add decrease in membership. Yes, they sound wonderful, but even Warren Buffet couldn't make them whole right now. Look for increased dues and less payout soon. And I'm bullish on the long term stock market 20 years. Look, there is thing called due dilegence, and the iampf fails on it. Now can the Twu create language to unfreeze our pensions and merge us with the iampf, well they can try but fortunately guys like Chilokie, Bob, and others are on the case, and all of us have to be vigilant.
If AA, moves a dime of our money, we have to make sure they can explain the due diligence on the fund as well, and not just say, your internationals, own the contract, and were supposed to have done it. UH NO, not going to happen anymore, company will be liable as well. These boards make the case too btw. Next, iam has to freeze this fund, and do what's right for the majority of members, and negotiate better matches for members, and lower their union dues. The pensions, let alone multi-employer union ones are all flawed. Ups guys, are losing their pensions thanks to being in a failed multi-employer union plan, although UPS has fully funded it.