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Joe mama

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Well I've been vested for a while now and planned on taking my retirement at age 55. Well I get an memorandum yesterday that basically states that I no longer can get my 100% early
retirement package and will only receive 38% of my monthly benefit. WTF this is going to force me back into the work force since I'm going to miss the age cut off by 10 months due to my age.
I had this all planned out and had already received my benefit in writing from the the pension. This is due to the fact that the plan is in a critical status..I guess this economy isn't in that great of shape after all.. Anybody else affected by this bullshit.:grumble:
 

HOOTER SLED-

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Damn....kick in the balls is right. That shit sucks.:thumbsdown
 

Icky

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That was that agreement that a lot of unions signed a few years back and didn't say shit to the members about it. Ill see if i can find it, but basically they can even go after currently retired people
 

Sandlord

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happened to me last year, but I had 2 retirement plans.
My hourly plan would have been cut in half if I didnt retire by 12/31 or stay until 62.
My Salary plan was already cut in half unless I stayed to 65.
I was 55 so I retired. split the difference and got the same amount I would have got if I stayed another 6 years.
my other choice was to stay another 10 years to get more. fuck that.
 

TBulger

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So sorry to hear sir, guess no safe haven today.
 

BHC Vic

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Do you go to your meetings? We talk about our pension fund and vacation fund quite a bit. Surplus is growing again
 

Taboma

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Stopped paying my IBEW dues in the late 80's after 20 years service :finger Long story, but essentially they took exception to me taking a position in management, so we parted ways.

I lived happily ever after, but still get constant notifications from the IBEW and NEBF/NECA as they make amendments to the suffering retirement plans.

I left my retirement for you, as have a lot of us so called 'Company Men' :D

On occasion I do however get the urge to hire a good lawyer and go after it --- more for principle than actual need :D

Good luck Joe :thumbsup
 

Big B Hova

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Carpenters Union is strong and pension is growing, nothing like 2005 status, but it is in the upwards swing. Sounds like the IBEW has some bad management.
 

Joe mama

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Going to stroll through the union hall with my walker and ask to sign the book. lol
 

Cray Paper

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Carpenters Union is strong and pension is growing, nothing like 2005 status, but it is in the upwards swing. Sounds like the IBEW has some bad management.
I got a letter from the carpenters union last month. The retirement is not strong and try are looking at ways cover the commitment. We all know what that means.
 

BHC Vic

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Carpenters Union is strong and pension is growing, nothing like 2005 status, but it is in the upwards swing. Sounds like the IBEW has some bad management.

Go to your meetings [emoji12] IMG_3113.jpg
 

BHC Vic

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Go to your meetings [emoji12] View attachment 516132

We will be getting 4 bucks to vacation and the goal is to get to 5 like Hawaii. We would like to get our pension back to 200 instead of 100 but we need interests rates to go up. We can't make money w them the way they are.
 

River Lynchmob

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This is going to start happening more and more as less and less go union...the unfunded liability is going to kill retirement or all unions
 

Big B Hova

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I got a letter from the carpenters union last month. The retirement is not strong and try are looking at ways cover the commitment. We all know what that means.

I do attend my meetings. Our pension is doing better, our hours on the books are way up = more money in pension. We do need interest rates to go up to get back into a 200$ per year payout.
 

BHC Vic

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True but all this doom gloom talk is why we need someone looking out for out unions.
 

67 baron sprint LD 390 FE

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Pension are getting torn apart lately, I'm still in the ibew to keep my a card so I can go work anywhere if I have to. Currently I work where I have cal pers , that to is a mess, we have more retirees than workers , I have to put 7% in because the yr I was hired , there is a rumor that in 2018 they want new hires to not even pay into cal pers. my wife's uncle is retired from the ibew and he has gotten letters saying they are in trouble. I don't know what the answer is but its bullshit you can work for retirement and have to taken away from you.
 

BHC Vic

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We are close to 70% market share. Interesting to read as more go non union because that doesn't seem to be he case in la
 

rivrrts429

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We are close to 70% market share. Interesting to read as more go non union because that doesn't seem to be he case in la


Do you have a link to that stat? Not saying you're not right but 70% market share is an unheard of massive number in any trade.

Pensions should be incredibly funded at those types of percentages. Like record profits type funding.
 

BHC Vic

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Do you have a link to that stat? Not saying you're not right but 70% market share is an unheard of massive number in any trade.

Pensions should be incredibly funded at those types of percentages. Like record profits type funding.

I'll post some stuff I'm on the 15 right now bhc bound. 70 is the goal we aren't there yet but getting closer
 

rivrrts429

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I'll post some stuff I'm on the 15 right now bhc bound. 70 is the goal we aren't there yet but getting closer

If accurate that's impressive. That'd be a union to stick with for sure [emoji106]
 

BHC Vic

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Like I said surplus is growing we are getting s lot of things we lost back (dental/vision) but we need interest rates to go up to grow pension. There's ruled to investing the funds
 

BHC Vic

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This is south west I'm not sure that Washington is the same region
 

Icky

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We will be getting 4 bucks to vacation and the goal is to get to 5 like Hawaii. We would like to get our pension back to 200 instead of 100 but we need interests rates to go up. We can't make money w them the way they are.

If u guys put it on your check instead of vacation, you get it twice on Sunday and 1.5 on Sat not just once. Ours just added to the vacation, were at 3 now
 

BHC Vic

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I feel like anything on my check just gets taxed and I lose it. We need another pension or annuity
 

OldSchoolBoats

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This is going to start happening more and more as less and less go union...the unfunded liability is going to kill retirement or all unions
Whenever I look at the usdebtclock.org site, the only thing that sticks out to me is the unfunded liabilities. There is a reason companies like AAA stopped offering pensions years ago.
 

Icky

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And I don't see a point to the foreman meetings, they tried that with us, no one from my company showed :D
 

Ziggy

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Too many entitled Union execs on the payroll robbing the pension plans to pay peter.
So much smarter to plan your own future and not rely on greedy executives to do it for you.
 

wishiknew

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Got out in 1989 after 17 years to start my own Business Have been sued by them for my little business adventure and still receive stuff about my retirement and anunity which I will never see without a lawyer! Starting my own business was the best move I ever did both personally and FINANCIALLY ! So I did what was best for my family ! Not the IBEW
 

River Lynchmob

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Whenever I look at the usdebtclock.org site, the only thing that sticks out to me is the unfunded liabilities. There is a reason companies like AAA stopped offering pensions years ago.
Here is another thing that at least our members don't know...or maybe they do. If the pension goes toes they tell the business owners they are on the hook for all the short falls. Well I don't know anyone that owns a business that wouldn't shut their doors if that xame to pass. Why would a business owner pay when the unions squander as much money as they do. It's crazy.
 

BHC Vic

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And I don't see a point to the foreman meetings, they tried that with us, no one from my company showed :D

They pay us 200 bucks. Same for steward meetings.
 

BHC Vic

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Too many entitled Union execs on the payroll robbing the pension plans to pay peter.
So much smarter to plan your own future and not rely on greedy executives to do it for you.

Truth. I am planning for it I don't want to rely on anything so if it is there for me it will just be a big plus and my f it money [emoji41]
 

BHC Vic

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Here is another thing that at least our members don't know...or maybe they do. If the pension goes toes they tell the business owners they are on the hook for all the short falls. Well I don't know anyone that owns a business that wouldn't shut their doors if that xame to pass. Why would a business owner pay when the unions squander as much money as they do. It's crazy.

Same reason they pay us now. No contractor wants to pay is what they do or give us the bennies we have. Contrasts put in place by politicians like Hillary make jobs have to be union so if companies want those big jobs they gotta be union
 

Big B Hova

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I'll post some stuff I'm on the 15 right now bhc bound. 70 is the goal we aren't there yet but getting closer

If accurate that's impressive. That'd be a union to stick with for sure [emoji106]

Like I said surplus is growing we are getting s lot of things we lost back (dental/vision) but we need interest rates to go up to grow pension. There's ruled to investing the funds

I just happen to be wearing the shirt today!

20161009_145611.jpg
 

River Lynchmob

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Same reason they pay us now. No contractor wants to pay is what they do or give us the bennies we have. Contrasts put in place by politicians like Hillary make jobs have to be union so if companies want those big jobs they gotta be union
And that's why we are union...a lot of buildings we work in require some contractors to be union.
 

Bigbore500r

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And I don't see a point to the foreman meetings, they tried that with us, no one from my company showed :D

Nobody else sees the point either, so now the carpenters union has resorted to offering carpenters $200 a meeting just to show up.
 

pronstar

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This is why anti-union sentiments aren't easy issues.
(And I'm on record in many threads stating my belief that skilled labor unions absolutely have a place in our society)

You guys entered into a contractual agreement about your future, an agreement any of us would jump on if we had the chance.
Then you're told the agreement isn't worth the paper its written on.
That's years of your life spent planning, and that sucks.

At the end of the day, unions are comprised of people just like you and me :thumbsup


I had a direct report, his dad lost two 20-year pensions with United Airlines, after each BK they went through.
I can't image...
 

Bobby V

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Our union seen it coming years ago. We changed some things and are still solid.
 

BHC Vic

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Nobody else sees the point either, so now the carpenters union has resorted to offering carpenters $200 a meeting just to show up.

Since I've started going I've really been trying to get involved more. Aside from all the Hillary stuff I enjoy the meetings. Wed I leave for Vegas to do the journeyman leadership program. After that I hope tondo the sw70 in Vegas. I'm trying to be an instructor and then hopefully a rep so for me I gotta get my face and name in all the meetings
 

Hammer

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And that's why we are union...a lot of buildings we work in require some contractors to be union.

That requirement makes my job a pain in the ass at times. We are in a small niche where a lot of union companies won't "waste their time" on our TI projects when it is the building owners requirement. The tenant doing the build out doesn't want to pay union labor rates a lot of the time.

We have no problem hiring union contractors, unfortunately we don't have the regular business relationships with union subs. This also a microcosm of our clients sub requirements.


Anyhow. Sorry to hear about the union retirement problems, the biggest motivation for a tradesman to go union is the pay scale and "guaranteed" retirement.
 

Bobby V

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Here is another thing that at least our members don't know...or maybe they do. If the pension goes toes they tell the business owners they are on the hook for all the short falls. Well I don't know anyone that owns a business that wouldn't shut their doors if that xame to pass. Why would a business owner pay when the unions squander as much money as they do. It's crazy.
I don't know anything about the AC union but in the UA the companies have nothing to
do with the pension. Once they send in the money they are done.
 

River Lynchmob

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That requirement makes my job a pain in the ass at times. We are in a small niche where a lot of union companies won't "waste their time" on our TI projects when it is the building owners requirement. The tenant doing the build out doesn't want to pay union labor rates a lot of the time.

We have no problem hiring union contractors, unfortunately we don't have the regular business relationships with union subs. This also a microcosm of our clients sub requirements.


Anyhow. Sorry to hear about the union retirement problems, the biggest motivation for a tradesman to go union is the pay scale and "guaranteed" retirement.
Call me for all those requirements.
 

Bobby V

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That requirement makes my job a pain in the ass at times. We are in a small niche where a lot of union companies won't "waste their time" on our TI projects when it is the building owners requirement. The tenant doing the build out doesn't want to pay union labor rates a lot of the time.

We have no problem hiring union contractors, unfortunately we don't have the regular business relationships with union subs. This also a microcosm of our clients sub requirements.


Anyhow. Sorry to hear about the union retirement problems, the biggest motivation for a tradesman to go union is the pay scale and "guaranteed" retirement.
I don't care if it's union or not. I will bid a good project. We beat non union quotes on tenant improvementsis all the time. Pm me on the next one.
 

River Lynchmob

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I don't know anything about the AC union but in the UA the companies have nothing to
do with the pension. Once they send in the money they are done.
Our CBA says if the local pensions etc...all local then the local businesses are responsible for the short fall and will have to write a check for it...pretty sure that won't work out well for anyone.
 

Bobby V

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Our CBA says if the local pensions etc...all local then the local businesses are responsible for the short fall and will have to write a check for it...pretty sure that won't work out well for anyone.
Is this a new clause or one that's been on the books for years. Either way it shouldn't be there.
 
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