The Southwest Ohio Regional Council of Carpenters Pension Plan Trustees
have applied to Treasury to rape our own UBC Pensioners.
Using the MPRA
legislation written by our own Union leaders to cover for their
mismanagement and in the UBC case looting of our funds.MPRA Lobbied for
using millions of our own UBC funds.MPRA Financed with our UBC money
in the form of dues to the NCCMP.MPRA Made law by deceit and fraud
because they knew it could not survive open debate and an honest
process..They backdoored it on the Omnibus bill in Dec 2014 .Again in
Dec 2016 they tried and failed to back door "composite plan" legislation
written by this same pack of rats. It is part 2 of the rape of
retirees. A Personal letter sent to Congress by Dougy "the Ice Cream
crapper" McCarron telling Congress they must pass this rape of retirees
MPRA legislation so we retirees do not become a burden on the
taxpayers.This letter contains false statements and lies by McCarron
such as "The proposals are voluntary" and "It will strengthen the multi
employer system".BS.It will destroy our multi Employer funds and part
two written by them is legislation to allow them to change our funds to
composite plans and destroy our plans completely.
Now to cover for their looting they are trying to rape our Ohio fund brothers and sisters using MPRA.Fund participants who already suffered cuts without MPRA are now looking at 17 % and more of their pension checks robbed. Read the language submitted closley. The 17% is just a small part of the rape.Read details here..https://www.treasury.gov/…/09%20MPRA-SWORCC%20Pension%20Pla…
UBC Ohio member statement.."Everyone needs to look at the Southwest Ohio pension recovery plan. All retirees and future retirees pensions to be cut 17 percent. Early retirees could be cut 50 percent. We were always promised the public Guarantee Program would carry us but now they say that we are going broke. Everyone's pension is in trouble and we have been lied to by the union and the politicians. Its time to go to meetings and voice your opinion and vote all the rats out."
I
say looting and lets prove it here. This fund like so many others,
despite the lies told claiming the funds to be free of the Unions
control as the law demands,is being controlled by the UBC.In the
Laufenberg case the lawyers just once again lied to the court and
claimed the Northeast Fund is not controlled in any way by the UBC. This
is a flat out lie.Many of its investments are being dictated by the UBC
International and anyone who refuses is targeted for destruction. Lets
use one of the biggest UBC scams ULLICO J once again as an example of
the fraud.
ULLICO J is a scam created by Union leaders and by one of the worst investments a fund can make.ULLICO.It has been hemrograing money for years .Has been caught for fraud and had its entire ULLICO Casualty Division liquidated by the State of Delaware in 2013.The Unions are diverting billions of our fund money to feed ULLICO J. In one year 45 UBC funds from across the country financed it and its pals MEPTS Newtower for a total of 13 billion.This pack of rats have loaned anti Union Trump,SL Green and Stephen Ross hundreds of millions of our UNION Pension money to finance their anti Union projects.
Now look at this Ohio fund they now want to rape pensioners to cover for their looting.The funds 5500 said ..
2010
ULLICO J is a mortgage account that issues residential and commercial mortgages throughout the United States of America. The Trustees of the Plan have requested redemption of their investment in the Separate Account J. However, as allowed in the group annuity contract, ULLICO suspended withdrawals in order to meet funding requirements. Beginning May 2011, payment of a portion of the suspended withdrawals began. Based on disclosure in The Separate Account J’s 2010 audited financial statements, suspended withdrawal requests exceed $1 billion. Therefore, it cannot be readily determined when the Plan could expect proceeds from its redemption request.
2011
The Trustees of the Plan had previously requested a full redemption of their investment in
the Separate Account J. During 2011 the trustees of the Plan agreed to receive a $6,000,000
distribution and keep the remaining balance invested in the fund, however based on the disclosure in
The Separate Account J’s 2011 audited financial statements, $875 million of redemption requests
have been suspended until the economic conditions of ULLICO improve in a sufficient manner to
fund those requests. Therefore, if the plan were to request another redemption, it cannot be readily
determined when the Plan could expect to receive their proceeds.
In 2012 the ULLICO money just vanished from this fund."keep the remaining balance invested in the ULLICO J fund" Where did it go??Also it vanishes from the ULLICO J 2012 form 5500 as well.
So who is behind this fraud and why should UBC Pensioners pay to cover for the crooks actions??Who is NEXT???
ULLICO J is a scam created by Union leaders and by one of the worst investments a fund can make.ULLICO.It has been hemrograing money for years .Has been caught for fraud and had its entire ULLICO Casualty Division liquidated by the State of Delaware in 2013.The Unions are diverting billions of our fund money to feed ULLICO J. In one year 45 UBC funds from across the country financed it and its pals MEPTS Newtower for a total of 13 billion.This pack of rats have loaned anti Union Trump,SL Green and Stephen Ross hundreds of millions of our UNION Pension money to finance their anti Union projects.
Now look at this Ohio fund they now want to rape pensioners to cover for their looting.The funds 5500 said ..
2010
ULLICO J is a mortgage account that issues residential and commercial mortgages throughout the United States of America. The Trustees of the Plan have requested redemption of their investment in the Separate Account J. However, as allowed in the group annuity contract, ULLICO suspended withdrawals in order to meet funding requirements. Beginning May 2011, payment of a portion of the suspended withdrawals began. Based on disclosure in The Separate Account J’s 2010 audited financial statements, suspended withdrawal requests exceed $1 billion. Therefore, it cannot be readily determined when the Plan could expect proceeds from its redemption request.
2011
The Trustees of the Plan had previously requested a full redemption of their investment in
the Separate Account J. During 2011 the trustees of the Plan agreed to receive a $6,000,000
distribution and keep the remaining balance invested in the fund, however based on the disclosure in
The Separate Account J’s 2011 audited financial statements, $875 million of redemption requests
have been suspended until the economic conditions of ULLICO improve in a sufficient manner to
fund those requests. Therefore, if the plan were to request another redemption, it cannot be readily
determined when the Plan could expect to receive their proceeds.
In 2012 the ULLICO money just vanished from this fund."keep the remaining balance invested in the ULLICO J fund" Where did it go??Also it vanishes from the ULLICO J 2012 form 5500 as well.
So who is behind this fraud and why should UBC Pensioners pay to cover for the crooks actions??Who is NEXT???
8 comments:
This is just the beginning of the pension crisis. The government has let this happen to us and will never do anything to the trustees. Most trustees are bonded and guess what company has the bonding. Ullico I would think members would get mad and realize they don't care about our pensions because they have their international pension and salaries that let them have their own investments. Enough is enough go to your meetings and vote new rank and file members in to all positions or just say to hell with it and drop out. They aren't union leaders just more lying politicians.
All the while Dirty Doug Mccarron is taking his pension and working ! And if any Ohio retires after loosing 19% of their pension try to Supplement it by working in the building trades, Dirty Doug will take the whole thing ! This self centered Lier thief must go !
I'm in the Keystone Mountain Lakes council. Our fund lost 28 million last year so they want to put our entire raise into the pension. It's time to put the money into our pockets so they can't steal it from us. I wish they would give EST Bill Waterkotte and his rats an IQ test. They would have to rig the results for any of them to get above suck ass.
Welcome to the union brother!!
We were told if the pension fund made 7percent it would get better. KML Council pension fund makes 7 percent and loses 28 million. Go figure that one out. We can't even find out what the head of funds office is paid.
Is dirty doug going to denie that he wrote that letter ? It wouldn't surprise me ! Now he is so worried about the tax payer ! Doug's a coward!
Lets see. The international under gp doug mccarron stole 2.6 billion in assests from phila. 9 million of actual local funds ( some dating back to 1881) he gave klm council 1.3 billion, and nrcc 1. 3 billion. We still have not seen a reciept if custody on any or all the monies. Support george laufenberg. Pray he calls for full fed audit to clear his name. These f ing thieves are going to get a surprise they may not like if this continues
The funds and locals are audited every year and nothing is ever found wrong. I know of locals and Councils that had millions of dollars missing. The DOL knows it and does nothing. This is bigger than the union the Federal Government has helped cover up the problems for years. Vote the bums out of your local, Council and State and Federal positions. It's time to stand up and be counted as working men and women.
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