8 thoughts on “Forbes post series on multiemployer pensions (March-April 2020)

  1. Perhaps Congress has more important things to deal with? The multi-employer pension plans are private contracts between companies and their workers, and taxpayers with their own retirement concerns aren’t interested?

    The economic train wreck right in front of us ought to end the chance of pensioners being treated any differently than any other retirees without enough savings to cover their costs in retirement. Congress is probably going to have to do something to help impoverished retirees; that will have to cover Teamster pensioners the same as everyone else.

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  2. I have written my South Carolina Senators Lindsey Graham and Tim Scott as well as my representative Tom Rice numerous times concerning this issue. I have requested face to face meetings at a time and location of their choosing, but failed to secure a meeting. They talk in circles and never answer the questions. To me that’s the PC way to say “we don’t care about this issue.” None of them care. They respond with generic form letters that don’t address my concerns. Generally, they say that they are working hard on numerous issues concerning the American people etc… but never address my questions. Graham is more concerned with getting on Fox news all the time. If Graham would show just a little bit of the passion he displayed for Justice Kavanaugh confirmation hearing this issue would be solved before this day is over. I’m a life long conservative, but I wouldn’t vote for any of these guys if you are concerned about your pension because it’s obvious from my communication with them that they don’t care anything about us. They just want you to vote for them when their re-election comes up. Graham just filed for the November election. If you live in SC and care about your pension vote for someone else. Scott dosen’t come up until 2022. Tom Rice, SC’s 7th Congressional District is also up for re-election this fall, so make sure you vote for someone else if your in the SC 7th district and care about your pension.

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  3. After speaking with Central States pension person over the phone today relating to the April 2020 letter they sent out to Teamsters, she informed me that my pension will definitely end 2025 and that I should contact my congressmen in Alabama. . She tried to put some blame on the stock market but had no reply when I told her that the stock market has almost doubled under President Trump since they first started sending out these letters years back. Hmmm, has there been a mishandling of pension funds? I guess Congress doesn’t care about the 383,658 people and their families this will negatively effect and most especially the 196,361 senior retirees of which I am one. Catastrophic is the word that comes to mind. Congress can bale out Wall Street but forget about the hard working American Teamsters that have kept essential products moving and delivered-they should have to live with the stress of losing their pensions, too! Thank you Forbes for continuing to shed light on this very important issue.

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  4. With the current economic crisis created by the Covid 19 virus there is suddenly the possibility of municipalities needing a bailout. I for one would not be in favor of taxpayer money having to bailout city and state pensions when multi employer pensions cannot receive the same funding. Why should I pay for others when my own pension is in real dire jeopardy. I’m sure others feel the same way.

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