NO CAL TEAMSTER

The PGBC is the government agency that essentially takes over distressed pension funds. It stands for Pension Guarantee Benefit Corporation. Can your pension be eliminated entirely? I don't know. However, I do know that any pension taken over by PGBC typically pays reduced benefits. I'm not aware of any union pension funds that were taken over by PGBC but it happens with employer Pension Funds all the time. The biggest threat to Union pensions is reduced membership and the inability to negogiate new unionized employers into pensions. Additionally, there are many unionized employers seeking to stop participation in multi-employer union pensions at contract renewal time. Scary times. Members need to be willing fight to retain their pensions. It is simple math...The amount being paid into a pension fund has to keep up with the amount currently being paid out to retirees. Otherwise, unfunded liabilities occur. Unfunded liabilities are ultimately tthe responsibility of employers participating in the pension...hence the reason employers are heading for the exit if they can get away with it. I am aware of a significant Teamster employer that has paid employees bonuses of up to $5,000 when new contracts were negotiated over the past couple years...in order to eliminate their pension from the CBA. Some units held out and retained pension...but many more took the bonus and settled.

Thanks to all the members and union officials who have reached out to me since I stopped working for the Plan. I have been overwhelmed by the response I have received from my Teamster friends all over the U.S. Thanks everyone!

Thanks Terry! I enjoyed working with the Bode members thoroughly. Especially the retirees...like Chester!

Mergers of IBT locals with low membership / financial issues are happening everywhere. Weak locals are merging into strong locals and members are benefitting from the mergers as the new combined locals are stronger financially. 986 is a good local. Local 381 members would benefit from the merger.

If unions stay out of politics, politicians will only serve their corporate masters and make anti-union laws until there are no unions. I agree that neither party represents working people. Which is worse, Republicans spitting in the face of union members...or Democrats who take money from unions, then do next to nothing to support working people? We need to start the Labor Party to represent working people. Primary goal should be to prevent "right to work states"....Split the vote three ways and it is possible to wrestle control from the powers that be. In the meantime, any politician who suggests cutting benefits on SS and Medicare should be vehemently opposed.
We are living in scary times for working class people. Foreclosures; loss of jobs; no access to health care for the unemployed; Right wing politicians and their followers cheer at the mention of allowing the uninsured sick to die. The most wealthy country in the world can't educate; provide health care; or otherwise prop up the middle class,,,but we can spend trillions on two unwinnable never ending wars. Wake up and fight for your country union members. The wealthy have compete control of your government while you toil to make ends meet and live paycheck to paycheck...if you have a job! The American dream has become a nightmare!