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Related: About this forum‘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.
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‘Devastating’ proposed pension cuts rock Teamsters in Midlands (Original Post)
Omaha Steve
Oct 2015
OP
In the end, any retirement fund including a 401(K) is insecure in a dishonest or changing
JDPriestly
Oct 2015
#3
yeoman6987
(14,449 posts)1. That should be illegal
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 . . .
doc03
(36,603 posts)6. It was the law up until a few months ago
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
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
Dustlawyer
(10,518 posts)5. Wall Street got bailed out, why not retirees?
merrily
(45,251 posts)8. Because they don't make big political donations, own yachts, etc.
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
(10,518 posts)9. Asbestos and silica
merrily
(45,251 posts)10. Ah, please pardon my ignorance.
merrily
(45,251 posts)7. Endorsements and political donations vs. workers.