Socialist Progressives

Omaha Steve

(109,951 posts) Sun Oct 11, 2015, 08:50 PM Oct 2015

‘Devastating’ proposed pension cuts rock Teamsters in Midlands

http://www.omaha.com/news/metro/devastating-proposed-pension-cuts-rock-teamsters-in-midlands/article_5f03ab36-1665-5c44-a254-17c1c8ec9370.html

POSTED: SUNDAY, OCTOBER 11, 2015 12:30 AM
By Joseph Morton / World-Herald staff writer

WASHINGTON — Retired truck driver Don Ziemba of Missouri Valley, Iowa, knew the letter was coming, but it still arrived last week like a punch to the gut.

Proposed pension cuts would reduce his monthly payment by more than half, from $2,800 to $1,281.

“It was very devastating,” said Ziemba, 69. “I was glad I was sitting down when it happened. It was a real shock to see that it came to this point.”

Retirees across the country received similar letters last week detailing just how much they stand to lose under cuts proposed by the Teamsters’ Central States Pension Fund.

FULL story at link.

10 replies

= new reply since forum marked as read

Highlight:

‘Devastating’ proposed pension cuts rock Teamsters in Midlands (Original Post) Omaha Steve Oct 2015 OP

That should be illegal yeoman6987 Oct 2015 #1

There ought to be a law . . . Ed Suspicious Oct 2015 #2

It was the law up until a few months ago doc03 Oct 2015 #6

In the end, any retirement fund including a 401(K) is insecure in a dishonest or changing JDPriestly Oct 2015 #3

Jheez. What kind of country allows this? nt Live and Learn Oct 2015 #4

Wall Street got bailed out, why not retirees? Dustlawyer Oct 2015 #5

Because they don't make big political donations, own yachts, etc. merrily Oct 2015 #8

Asbestos and silica Dustlawyer Oct 2015 #9

Ah, please pardon my ignorance. merrily Oct 2015 #10

Endorsements and political donations vs. workers. merrily Oct 2015 #7

yeoman6987

(14,449 posts)

1. That should be illegal

Reply to Omaha Steve (Original post)

Sun Oct 11, 2015, 11:28 PM

Oct 2015

Once you retire, they should never be allowed to reduce the pension and that includes everyone. The business goes out of business, the government is on the hook for the entire pension. Sometimes I think 401k retirees might be better off. Sometimes I think that way.

Ed Suspicious

(8,879 posts)

2. There ought to be a law . . .

Reply to Omaha Steve (Original post)

Sun Oct 11, 2015, 11:37 PM

Oct 2015

doc03

(39,178 posts)

6. It was the law up until a few months ago

Reply to Ed Suspicious (Reply #2)

Mon Oct 12, 2015, 12:11 AM

Oct 2015

when Democrats and Republicans voided it.

JDPriestly

(57,936 posts)

3. In the end, any retirement fund including a 401(K) is insecure in a dishonest or changing

Reply to Omaha Steve (Original post)

Sun Oct 11, 2015, 11:47 PM

Oct 2015

economy.

That is why Social Security is so important, and we need to raise the cap and increase benefits.

Live and Learn

(12,769 posts)

4. Jheez. What kind of country allows this? nt

Reply to Omaha Steve (Original post)

Sun Oct 11, 2015, 11:52 PM

Oct 2015

Dustlawyer

(10,540 posts)

5. Wall Street got bailed out, why not retirees?

Reply to Omaha Steve (Original post)

Mon Oct 12, 2015, 12:01 AM

Oct 2015

merrily

(45,251 posts)

8. Because they don't make big political donations, own yachts, etc.

Reply to Dustlawyer (Reply #5)

Mon Oct 12, 2015, 05:13 AM

Oct 2015

What kind of American are you, ffs?

OT: I've been wondering, how badly does dust need representation, really? It just seems to take over on its own.

Dustlawyer

(10,540 posts)

9. Asbestos and silica

Reply to merrily (Reply #8)

Mon Oct 12, 2015, 07:52 AM

Oct 2015

merrily

(45,251 posts)

10. Ah, please pardon my ignorance.

Reply to Dustlawyer (Reply #9)

Mon Oct 12, 2015, 07:53 AM

Oct 2015

merrily

(45,251 posts)

7. Endorsements and political donations vs. workers.

Reply to Omaha Steve (Original post)

Mon Oct 12, 2015, 05:12 AM

Oct 2015

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