Central States will arbitrarily take at half of my pension in July of 2016. The amount to be taken was only “estimated” as to be the proper amount. No proof can be offered as to this being the proper amount. They say it will take several decades, about 30 years or more to correct their shortfalls in funds. I am 70 years old and will never see this correction. I am 100% disabled and can never work again. I won’t be able to support myself or my wife. I paid over $105,000.00 into a retirement fund that has become a Ponzi Scheme by Central States. I cannot believe My Country that I fought for would not stand up for a disabled vet and say NO. I need help.
I am 70 years old and in bad health. My wife and I have scaled back our way of life so much in order to retire. This 50% cut to my retirement will be devastating to our lives. CS has very little compassion to its members and seems to blame the members for our financial woes. They were being paid to manage our retirement fund. They say if we vote against the rescue fund, it doesn’t matter, they are going to take our money anyway. We need help. CS appears to be our biggest problem. They are not properly representing us.
Again, my life is arbitrarily challenged. Back in 1965 I was drafted into the military for the war in Vietnam. I and my family have been suffering ever since (cancer, PTSD etc.) and now again, CS. is taking half of my pension, arbitrarily another financial hardship to my family .I am 70 and unable to work again. I fought for my country and worked all my life to have a decent life for my wife and myself but because of mismanagement of pension funds by the Teamsters and CS my life will never be the same. I tried, God knows I tried. I plea for those in authority to help.
After 10 years retirement CS. is cutting my pension by 50%. They say in several decades it might stabilize. In 30 years? They have misused the pension money so badly our members are terming it a “Ponzi Scheme”. They have steered us into insolvency. CS needs a complete audit before anything is done with the member’s money on this “rescue plan”. Already one trustee has been fired for misuse of funds. We need help and more consideration by the treasury to help save our future. Just grabbing our money now after so many years of misuse by CS seems so un-American. I am a disabled old man, a Vietnam veteran, with very few years left. Believe me I know what “un-American means. Please help us. God bless us all and thank you.< Back