KANSAS CITY, MO Retired union workers facing large pension cuts gathered to voice their anger at those cuts Tuesday.
Representative Emanuel Cleaver conducted the town hall meeting.
According to Cleaver, more than 270,000 people from across several states, including Missouri, who have vested millions of dollars into their pension funds, have been told their benefits from the Central States Pension Fund would be drastically cut, some as much as by 60 percent.
They’re people like Jack and Sally Ruffin. The couple retired after more than 30 years each working for a trucking company.
For decades, the Ruffins belonged to the Teamsters, a union that paid into a multicompany pension plan through Central States.
A few months ago, Sally Ruffin received a letter telling her the monthly checks would be much smaller, cut from $3,300 to $1,650.
The cuts to her husband’s pension go even deeper.
“I’m getting a 50 percent cut. My husband’s getting almost a 60 percent cut,” Sally Ruffin shared.
The couple lives modestly in Weatherby Lake, MO. Now, they’re not sure how they’re going to pay the bills like their mortgage payment.
“We don’t know what’s going to happen,” Sally Ruffin said.
Cleaver has joined the fight against the cuts.
“We’re not talking about some welfare situation. These people have worked hard all of their lives to earn this money,” Cleaver said.
The cuts are the result of the Multiemployer Pension Reform Act, which allows the pension company to ask the U.S. Treasury for permission to cut payments to remain solvent.
“If they do this with us, there’s other pension companies just watching us to be cut,” Jack Ruffin commented.
The Ruffins are taking this hard. In fact, an anxiety attacked landed Sally Ruffin in the emergency room after she learned that money she’d spent a lifetime earning would soon be gone.
“We just want to be solvent, just to enjoy our life and not have to worry all the time,” she said.
Pensioners will have the chance to vote on whether to accept the proposed cuts. The Treasury Department says if someone doesn’t vote, or can’t vote, the ballot counts in favor of the cuts. Ballots should be mailed out to all union members, past and present.
15 thoughts on “270,000 truckers told their pensions will be cut up to 60%”
“What, you had billions invested?” Well, “poof, it’s gone”.
“We don’t know what’s going to happen,” Sally Ruffin said.”
At least we’re not cashless.
OK, are we cash less yet?
Did not realize until I ‘un-paused’ the song I was listening to after watching the Banksters in South Park bit…The man Who Sold The World
Everything you think you have will be stolen from you.
It is time to grasp that fact.
Love the “ballot is in the mail” nonsense…how much does anyone want to bet that only one-third of the union pension people ever get their ballots? When it could have been done online, downloaded, e-signed, the e-mailed back (or printed, then mailed back?) And even if the mail deal is on the up and up, how much you want to bet the vote counters will say they only received one-third of the no votes? Every single American on a pension or Social Security will be robbed! Period! End of Story! and then they’ll force us into a MyRA! Cute!
Until this starts happening at the city worker level and police union level
Not a dam thing will be done about it
It’s on it’s way ..
Had a marvelous experience in the mid ’90s w/ a union [UFCW580] – fkn scumbags.
Was a good, solid lesson for me about how being employed by the union is the only way they give a crap about you…and then probably not.
Living in a right to work state now. : )
Already happened in Detroit. Only thing that happened is people got screwed and police started literally robbing people, no joke, armed robbery. Guess they figured they better start their own retirement plan.
Long ago,I was a member of the Kansas City teamsters. People have no idea of how corrupt the organization was and is. I remember speaking out at a meeting once. I was against a hike in union dues. The President of the union pointed to an “enforcer” and said, go see what his problem is. The enforcer took me by the arm, and we exited the union hall into an alley. He pinned me against a garbage dumpster and was drawing back his fist to work me over. I drew my Beretta and told him, when you swing, I shoot. That ended the confrontation, but the union got their increase and for safety sake, I never attended another meeting. Back in those days, the union local was in bad financial shape, because of Jimmy Hoffa’s bad loans to the mafia. I’m sure that nothing has changed.
Work your ass off and don’t complain. If you do I’ll chop your head off and kill your children.
Welcome to America….
…..”I owe my soul to the company store” …..
Back in the 70’s, when I joined the Teamsters, the Mafia ran it. There was so much money, they paid out 13 checks a year. The government would not let them build a reserve for times like these, so they had to pay it out. I’m getting cut by about 55%, myself. The government took over the pension & put half in an index fund & gave half to Goldman sucks, Morgoon stanley & other professionals to manage. That’s the half that is hurting for money. Boy, I can’t wait to vote for cruz & his goldman sucks bimbo. Oh, the voting? Even if every voter says no cuts, the Treasury can override it. The taxpayers shouldn’t have to bail the Fund out, but, the government caused this problem, the government should be responsible for it. Take it from goldman sucks, et al.