TREASURY APPROVES NEW YORK STATE PENSION CUTS

[radio rahiem]

Treasury Approves New York State Pension Cuts

The U.S. Treasury announced it has approved pension cuts for 35,000 retirees and active Teamsters covered under the New York State Teamsters Pension Fund. The cuts will take place effect on October 1.

By law, the Department of Treasury was required to conduct a vote of pension fund participants prior to finalizing a decision.

Ballots were mailed to 34,755 participants: 9,788 voted no and 4,081 voted yes. But under the rigged voting rules, Treasury is allowed to count all non-votes as yes votes.

So despite the overwhelming opposition by 70% of the voters, the cuts have been approved.

Upstate NY Teamsters opposed to the cuts are exploring all possible alternatives for challenging the decision and the attack on the retirement benefits they were promised

 

[newworldafro]

Alot of retirees are about to that wake up call .....just the beginning

 

[Tommy Fits]

I could see sacrificing the unborn but to cut the pension of retirees and guys currently working is fukked up. There was a time where you got union and civil service jobs for the security and benefits, it would never make you rich, private sector was the way to go. Now everything about the private sector is horrible from pay to benefits to security. Everyone wants a union job or civil service, instead of trying to fix the private sector they're going after unions and civil service to make those jobs as shytty as the private sector.

If you live in NY vote no for the constitutional convention

 

[Jimi Swagger]

Ballots were mailed to 34,755 participants: 9,788 voted no and 4,081 voted yes. But under the rigged voting rules, Treasury is allowed to count all non-votes as yes votes.

So despite the overwhelming opposition by 70% of the voters, the cuts have been approved.
​

So the 20k missing/unanswered votes counted as Yes? What kinda Draconian ballot system is this?

 

[BigMoneyGrip]

The only pension that's iron clad and untouchable in the NYS pension is the police and fire pension..

Teamsters are fukked

 

[Tommy Fits]

The only pension that's iron clad and untouchable in the NYS pension is the police and fire pension..

Teamsters are fukked

even cops and firefighters pensions aren't iron clad. It might be the worst politically to go after but politicians have gone after it. Peterson did about 10 years ago for new hires.

 

[BigMoneyGrip]

even cops and firefighters pensions aren't iron clad. It might be the worst politically to go after but politicians have gone after it. Peterson did about 10 years ago for new hires.

Remember NYS comptroller Karl McCall? He set up the Police and Fire pension in NYS so that it can't be touched.. this was from the 80s and correct on Paterson.. Now I know they changed the tier system.. no more tier 1 and tier 2 systems

 

[NYChase718]

Slave yourself for 1-2 or even 3 decades
And get no reward

 

[NkrumahWasRight Is Wrong]

Its far from fair but pensions are crippling many state economies. I dont believe you should be able to break a contract though

 

[Red Shield]

Those pensions are hitting places hard. I would expect more of this over the coming years

 

[Deflatedhoopdreams]

They been trying to do this for years.

And fukk all those people who didnt vote. shyt I wouldnt be surprised if they didn't even get the ballot

 

[R.B.J1]

The State of Michigan eliminated pensions for civil servants in 1999. All employees hired after 12-31-1998 are in the 401K, which is good, but nothing beats a pension. I know a retired state of MI. employee that's receiving a $3K per month from his pension and another $1,800.00 from social security. He also has about $100k in his 401K. He got it good. I am surprised every state in the union hasn't eliminated pensions for civil servants.

 

[Sensitive Blake Griffin]

Alot of retirees are about to that wake up call .....just the beginning

#MAGA

 

[newworldafro]

Its far from fair but pensions are crippling many state economies. I dont believe you should be able to break a contract though

Illinois is on it's knees right now...

 

[NkrumahWasRight Is Wrong]

Illinois is on it's knees right now...

So is Connecticut