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.

Showing 45 reactions

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  • commented 2017-10-31 17:55:13 -0400
    For of us, who no longer live in New York, we were never given ballots to vote.

    We collect our retirement from New York, and, we are not allowed to vote.

    Our non-vote, counts as a vote, in New York.

    Hopefully, the US Supreme Court will hear this case, because the New York Courts will not be favorable.
  • commented 2017-10-31 15:57:29 -0400
    This plan was close to fully funded years ago. But a combination of government actions and inaction has caused all the problems. The government deregulated what was a stable industry. The government passed many laws unfriendly to labor. The government allowed companies like global crossing and iron to operate for years with untruthful book keeping causing a stock market crash taking with it much of the pension funds. The government allowed and basically caused the housing bubble and burst causing one of the biggest recessions ever and again a loss of pension funds. How does the union organize or better yet get an employer to bargain faithfully when they are able to hire striker replacements? Today the union has no clout thanks to the government. Making hard working people and those that did their time working pay for the shortage of funds caused mostly by our government is totally unacceptable. If anyone thinks I’m wrong do your own research. This was never a pyramid plan but in effect it became one thanks to the short sighted actions of our elected officials.
  • commented 2017-10-16 15:25:07 -0400
    I never received a ballot.

    Would an out-of-state resident of another state, who is receiving a NYS retirement pension, be able to receive a ballot, and vote?
  • commented 2017-10-16 09:36:57 -0400
    “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.”…….

    The cuts will ensure the pension plan survives in this new world of an anti-worker government and public opinion. There is no new money coming to save this plan and the pyramid scheme it was created as is now upside down. There should be 5 workers for every 1 retiree, not the other way around. That’s reality and I applaud the Treasury for doing what the retiree’s refused to do. Save the plan for future generations of workers.
  • commented 2017-09-26 10:01:19 -0400
    which means our local wasn’t doing their job by organizing companies to bring in revenue to build up the pension fund!
  • commented 2017-09-26 01:02:03 -0400
    Pensions are vased on evenue received from participating employers. Revenue drops the pension drops. Stop the saber rattling BS
  • commented 2017-09-25 22:07:56 -0400
    Since the 70’s there has been a law that NO ONE could touch anyone’s pension…then not so nice guys named Kline and Miller tacked onto the omibus bill a new law that deleted that law protecting our pensions. No one read it or discussed it because no one knew about it!!!! And the bhdget had to be passed by midnight December 16 2014. Makes you wonder what Kline—Miller got out of it!!!!
  • commented 2017-09-24 14:27:09 -0400
    From what I have tead, this affected ONLY Teamsters active employees and retirees! Ithe has nothing to do with big business, but everything to do with government in the fact that Cuomo, like his father is a liar and a thief! Years ago, the father, while he was governor, raided the NYS Firefighters Pension Fund ILLEGALLY, to balance the NYS budget. Immediately after Cuomo announced a “balanced budget”, NYS comptroller H.Call McCall had to sue Cuomo and the government to recover the retirement funds. Albany needs to drain the swamp
    These poor, hardworking Teamsters do not deserve this!!
  • commented 2017-09-22 20:42:44 -0400
    Unbelievable. You work all of your life for the pittance you get when you finally retire and they want to take it away. Bunch of thieves.
  • commented 2017-09-22 16:12:17 -0400
    The voting is rigged! How can a NON-VOTE be counted?? Did they ENSURE that EVERY person received a ballot NY State does the same thing with it’s contract votes. This is ridiculous NON-VOTES SHOULD NOT BE COUNTED AT ALL!!!!!!
  • commented 2017-09-21 15:39:49 -0400
    What if a NYS Retiree, no longer lives in NYS, and there
    fore, can not vote?

    My no-vote, should not be an assent, to threaten my Retirement.
  • commented 2017-09-21 10:43:59 -0400
    People should stop buying ! No new cars ,no new cell phones no expensive trips . Hit them where it hurts in their wallets . Petitions , marches mean nothing . Short of physical violence ,and they will only shoot us down this is the only thing that will work . STOP SPENDING !
  • commented 2017-09-21 10:42:23 -0400
    The voting rules were set forth in the 2014 MPRA law. Even if everybody voted yes not to cut the pension, the treasury dept. would over rule the vote, because this pension failure would add a billion dollar or more liability to the PBGC. No matter the outcome the pension fund was going to be cut. The bottom line is employers contributions were not cut. Current employees aren’t going to be millionaires, even though employers are paying in enough to make them such.
  • commented 2017-09-21 09:44:28 -0400
    Union members are weakened but by the unions , not by the government or the employers but by their own members who fail to participate in their own futures. People could’ve voted for this via paper ballots, via the internet and via telephone.. no excuse for not voting… and certainly no excuse for challenging the rules of Vito passed 3 yrs ago which allowed a “no vote” to count as a “yes” vote..
  • commented 2017-09-21 09:44:18 -0400
    How is that legal? How is a non vote a yes?
  • commented 2017-09-21 09:06:50 -0400
    This needs to be addressed by the U,S, Supreme Court, let’s form a class action lawsuit and get it there!
  • commented 2017-09-21 07:04:18 -0400
    How do you presume a no vote is yes, why not know where the majority VOTES are! What a travesty.
  • commented 2017-09-21 04:29:55 -0400
    Who is flagging certain comments , and flagging for what reason ???
  • commented 2017-09-21 03:53:52 -0400
    People need to stop attacking their fellow union members for allegedly not voting. They just didn’t send out the ballots to many of the members. They want you to claw at each other throats as being at fault when they had orchestrated the entire outcome in their favor. Common sense should tell you that the voting was rigged when you have a rule that counts a non response as a " yes" vote for the cuts but not as a " No " vote .
    The attacks on the American workers are becoming more brazen each year. The sad part is that other Americans are helping the attacks with their bitterness over their own job choices and their misguided beliefs that the cause for their economic deterioration are the fault of other common people , who are suffering just like them and haves no more of a control over their own economic plight than they do. The true culprits , as always , are big business and their political patsy , and they are in both political parties. They put people against people , race against race , gender against gender , young against the old , religion against religion , politics against politics , and while we are clawing at each others throats business as usual continues for them . India , China , Mexico, and all other nations couldn’t take our jobs if not for these so called American businesses giving it to them , and the flunky politicians making the process easy to do it. Unfortunately , the horses have left the barn and I don’t know if we can get them back in.
    I guess we’ll do like people usually do when times get tough , and that is to crack the skull of the poor sap next to them than to crack the skull of the king , even though , the king is the bane of their suffering.
  • commented 2017-09-20 21:48:07 -0400
    the weekly employer contribution is $545 a week for N.Y. conference in contrast to the $342 paid into CSPF. More for a U.P.S. employee. This amount would easily make an employee a millionaire after 30 years. I’m sure giving pension increases retroactively to employees who’s employer then went bankrupt killed the N.Y. conference pension fund. Retirees please post how much the pension contribution rate was when you retired. Should be good for a chuckle. Tony Aprea all this information is in MPRA applications to the treasury dept.. I.E. it is public record. You would think individuals would read the MPRA application before they post on TDU.
  • commented 2017-09-20 16:28:54 -0400
    You can not vote if you don’t get a ballot. I wonder how many others didn’t get a ballot. My addy is good but no ballot received. I’m sure this was one of their trick. Didn’t want it to show how many people objected. Why would ANYONE VOTE YES TO LOSING THE MONEY THEY NEED TO LIVE ON. TELL ME WHY??? THATS CRAZY. DIDNT HAPPEN. CROOKS, LIARS,!
  • commented 2017-09-20 15:44:21 -0400
    To be clear on this. I did NOT receive a ballot nor did my husband receive a ballot
  • commented 2017-09-20 15:42:54 -0400
    This sounds like something the Mob would do ! Glad I am not a teamster, what corruption!
  • commented 2017-09-20 15:42:32 -0400
    I Have two members in my family in this farce of a retirement system. I neither to my family member received a rigged voting document. Secondly rigged is the proper name. How could we possibly have won? There was no way unless everyone voted and voted no. You can"t not and shouldn’t be able to count non votes. This is pathetic! I hope we are suing the Treasury Dept.
  • commented 2017-09-20 11:44:51 -0400
    Members worked very hard for what they receive, it’s not American to take it away!
    What is the meaning of a Union if you can can’t PROTECT IT AND ITS MEMBERS.
    Local 707 NY
  • commented 2017-09-20 08:25:24 -0400
    They’re Crooks😡😡
  • commented 2017-09-20 07:13:46 -0400
    This is unreal. If you’ve worked your whole lufe to kive on a meager retirement know this-I will then be in the poverty level and be eligible for food stamps and assistance. So where does this save anyone?
  • commented 2017-09-20 03:53:20 -0400
    Don’t touch what members have worked their whole careers for.
  • commented 2017-09-19 22:25:23 -0400
    I never got a ballot.
  • commented 2017-09-19 20:50:20 -0400
    Its rigged if they arent sending out the votes, then counting non votes as yes votes! Crazy! Manipulation!
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