Boots & Sabers

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1610, 19 Oct 15

Teamster Pensioners Facing Huge Cut

Ouch. You have to feel bad for the pensioners.

Letters were sent to members and retirees at the end of September outlining a proposal from the central states pension fund to cut benefits by up to 65 percent. That’s to help keep it from going belly-up in the coming years.


1610, 19 October 2015


  1. scott

    They should just change their name to Chrysler or Citigroup. They’d be all set.

  2. Steve Austin

    Or Bank of America or AIG.

    Yeah, I do feel very sorry for these guys as they got shafted.

    That said, the only way out for the City of Chicago and State of Illinois is what this pension plan did.

  3. dad29

    Central States was in bed with the Mafia back in the ’50’s and ’60’s; the Feds took over the fund for a while. In the end, the math didn’t work: the fund was a Ponzi scheme, but no one was joining up.

    That’s the difference between private pension funds and Gummint pension funds; the Teamsters didn’t have enough guns to force the money out of people.

  4. scott

    No, seriously. Why is the federal government not bailing these guys out?

  5. Owen

    Because the federal government shouldn’t have bailed any of them out if for no other reason than everyone then expects to be bailed out for poor financial decisions.

  6. Dan

    Well, I don’t feel sorry for them.
    If they are only relying on their pension and social security, then they were going to have problems no matter what.
    Plus, I have a hard time feeling sorry for the Teamsters, a bunch of union thugs who didn’t care about their employers, non-union workers and “scabs”.
    Nope, no sympathy for them.

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