Some Teamsters Fuming Over Retirement Funding Usage

A recent town hall meeting that took place in the major gathering hall of Toledo led to the inception or probably the disclosure of a political controversy and this has garnered some fame and attention from the critics and also the general population. What became news/knowledge for some of the teamsters (retired and current) was that their retirement funding that come from the union have been wrongly made use of by some of the interest bodies in their urge to make deductions to the pension plans of these teamsters. A staggering amount of around 6 million was being wrongly snatched away from the union funds and what was the motive behind it? To try to incline the law formulating personnel to make cuts to the pension and social security plans. A trustee from the Central Pension Fund plan, Bill Litchenwald was given the duty to address the fuming trustees in this regard:

Trustees fuming over retirement funding usage:

There were allegations and loads of them being made by Bill in this regard. “Allegations” is a keyword in the preceding sentence because there was no credibility in the way he uttered his words. A worth mentioning point is that Bill is himself allegedly involved in this misappropriation of funds. This was the reason why the crowd was upon him as soon as he came centre stage. Bill tried to apologize and tell sad things to the crowd assuming a defensive role but that card too was turned down.

Almost all the teamsters that were part of the event will now have to face around 50 percent decrease in their retirement funding schemes and rates. Bill put the whole weight of the situation on the Congress saying that it is going to be their word that is going to be taken in this regard and there is nothing he could do about it. His blame game further continued when he said that the federal government is not supporting the state and the funding schemes in any way.

This issue is unlikely to see an end soon and here’s hoping that whatever ends up transpiring is better for the majority.

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