Announcments
  • REALIST NEWS: Where you don't have to worry about drama. No Spam posts and STAY ON TOPIC. This is an important news website.

When posting content located on some other website, please post no more than 20% of their content and always provide a link. Also, Multiple forum handles/IDs are NOT permitted.
If you see a spam post please click the "Report" button on that specific post. Also, what I don't want on my forum is name calling and cussing at people or direct insults. Thanks


Post Reply 
 
Thread Rating:
  • 1 Votes - 3 Average
  • 1
  • 2
  • 3
  • 4
  • 5
NY Teamsters Pension Becomes First To Run Out Of Money As Expert Warns "Pension Tsuna
03-01-2017, 01:52 AM
Post: #1
NY Teamsters Pension Becomes First To Run Out Of Money As Expert Warns "Pension Tsuna
0
0
The New York Teamsters Road Carriers Local 707 Pension Fund has won the unfortunate award for "First Pension to Officially Run Out of Money." According to the New York Daily News, and a host of angry former truck drivers who've had their pension benefits slashed, the Pension Benefit Guaranty Corp. (PBGC) has officially been forced to step in and take over payments to retirees of the Local 707, albeit at a much lower rate.

Teamsters Local 707’s pension fund is the first to officially bottom out financially — which happened this month.

“I had a union job for 30 years,” Chmil said. “We had collectively bargained contracts that promised us a pension. I paid into it with every paycheck. Everyone told us, ‘Don’t worry, you have a union job, your pension is guaranteed.’ Well, so much for that.”

“It’s a nightmare, it has just devastated all of our lives. I’ve gone from having $48,000 a year to less than half that,” said Chmil, one of five Local 707 retirees who agreed to share their stories with the Daily News last week.

“I don’t want other people to have to go through this. We need everyone to wake up and do something; that’s why we’re talking,” said Ray Narvaez.

http://www.zerohedge.com/news/2017-02-28...ami-coming

Arctic, proud member of Realist News since Feb 2013.
Find all posts by this user
Quote this message in a reply
Post Reply 


Possibly Related Threads...
Thread Author Replies Views Last Post
  Billionaire says he has 10% of his money in Bitcoin and Ether etuHad4 0 2,342 04-20-2017 09:01 PM
Last Post: etuHad4
  Making extra money citizen1 1 2,732 04-13-2017 06:15 PM
Last Post: ohoh7
Heart Bitcoin is money. Its Official. U.S. judge says in case tied to JPMorgan hack etuHad4 0 1,276 09-19-2016 10:08 PM
Last Post: etuHad4
  Vatican Divided & Pope Needs Your Prayers - Money is Missing! - Whistleblower Thinker 7 3,412 06-15-2016 12:14 AM
Last Post: 2D4
  Iceland Will Create Its Own Money - What Nations will follow with Gold & Silver? Thinker 3 1,902 04-26-2016 06:00 PM
Last Post: Thinker
  janet yellen warns us bail-ins are coming razzle34dazzle 1 1,559 04-19-2016 05:30 AM
Last Post: Thinker
  Insider Warns of Planned West Coast Destabilization Thinker 1 1,453 02-07-2016 05:56 PM
Last Post: Thinker
  Seattle hospital warns parents it might have given HIV to thousands of children Thinker 1 1,527 09-21-2015 05:23 AM
Last Post: Arctic
  Money Velocity Falls Hunker & Bunker Time Nears HG Spacetime 1 1,888 08-14-2015 11:33 AM
Last Post: HG Spacetime
  Lead Developer Of HPV Vaccines Comes Clean, Warns Parents It’s A Giant Deadly Scam Thinker 1 2,401 07-24-2015 03:24 PM
Last Post: Thinker
  Nuclear Official Warns of Explosions at Fukushima Plant In Japan Thinker 1 2,204 05-27-2015 11:47 AM
Last Post: Thinker
  WORLD DROWNING IN DEBT, WARNS GOLDMAN; ECONOMIST WARNS OF PRIVATE PENSION FUND THEFT Thinker 1 2,014 05-27-2015 11:12 AM
Last Post: Thinker
  Wikipedia Cover Up: Porn money used to launch Thinker 2 2,087 05-27-2015 10:24 AM
Last Post: Thinker
  Post #2 - ILLUMINATI PLANS 2015 to keep numbers down & money flowing Thinker 1 2,202 05-20-2015 04:27 PM
Last Post: Thinker
  Post #2 - Follow the Money: ‘USA Freedom Act’ Backers in Congress Cashing In Thinker 1 1,954 05-20-2015 02:00 PM
Last Post: Thinker
Shocked £400m Foreign Aid Fiasco In Paradise: Bribery, Kickbacks, YOUR Tax Money Siphoned People4People 0 1,153 05-17-2015 12:07 AM
Last Post: People4People
  Justice on a one sided level - immunity for killing if you have the money & power ? Thinker 0 1,226 05-16-2015 08:53 AM
Last Post: Thinker
Exclamation More Corruption - Government Backing Up Bankers Conspiracy To Eliminate Paper Money People4People 2 1,977 05-15-2015 07:45 PM
Last Post: Thinker
  HSBC WARNS: The world economy faces a 'titanic problem' - Who's to blame? Thinker 1 1,835 05-15-2015 06:56 AM
Last Post: runnerquarterly
  Post #2 - Illinois Pension Ruling Sets Stage for Riots…Everywhere Thinker 1 1,946 05-12-2015 02:16 PM
Last Post: Thinker

Forum Jump:


User(s) browsing this thread: 1 Guest(s)