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Local 560's pension nightmare


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#1 old timer

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Posted May 18 2011 - 02:25 PM

The recent news of local 560's pension woes did not come as a surprise to any of the members.But we were all surprised at president Anthony Valdner, the executive board and trustees lack of a proactive timely response to the changing economic climate over the past 4 years.Also surprising was the lack of any plan to modify the qualifications and benefits at a much earlier date. The aforementioned situations have brought the membership to the threshold of a financial catastrophe.The funds that president Valdner the executive board and trustees have let be squandered away were the foundation of hope for the members and our families,the retirement we all worked long and hard for is now in peril due to the lack of prudent financial and administrative leadership.The membership needs to act now to put the remaining funds into the hands of a qualified administrator. In closing let us all remember that the union works for us, we don't work for them.

#2 Shaman

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Posted May 19 2011 - 02:00 PM

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#3 11:58pm

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Posted May 19 2011 - 02:20 PM

Any modification to the pension fund at all would have had you, barking dic, Sherman and Ed sheister calling the PO of 560 a sellout who was in cahoots with GP Hoffa to secretly funnel pension fund dollars into an account secretly held by the illigitamate grandchildren of Anthony Provenzano.

Did PO Valdner recklessly raise pension benefits to unaffordable generous levels just to seek reelection?

I imagine he did everything within his grasp to sustain safe pension levels. It's a freight and construction local, no? With construction at an all time low and YRC about to be delisted one can only embrace the union, hold on, fight government attacks on pensions and the public sector reject the Tea Party and pray for recovery.