I GUESS PPP LOAN FRAUD WAS NOT ENOUGH
Feds: Carpenters union gets $183M of stimulus to restore cut pensions
Alexander CoolidgeCincinnati Enquirer
The retirement plan covering nearly 5,400
Southwest Ohio union carpenters got a nearly $183 million government
bailout on Tuesday, according to an announcement by the federal Pension Benefit Guaranty Corporation.
The money comes from a program aimed at shoring up pension plans, created as part of the broader stimulus package enacted in 2021 in the wake of the COVID-19 outbreak.
The money will benefit members of the Southwest Ohio Regional Council of Carpenters Pension Plan,
which in 2019, slashed pension benefits for thousands of members by an
average of 18% to remain solvent. PBGC’s approval enables the plan to
restore benefits previously suspended and to make payments to retirees
to cover prior benefit suspensions, the federally chartered corporation said in a statement. The funding will enable the plan to pay retirement benefits without reduction for many years into the future.
“Millions of people work for years, looking forward to the day when the
promise of a secure, dignified retirement is kept,” said Julie A. Su,
the Acting Secretary of Labor, in a statement. “Today, the Biden-Harris
administration is delivering on that promise for 5,399 construction
workers across Ohio, Kentucky and Indiana by providing Special Financial
Assistance to the Southwest Ohio Regional Council of Carpenters Pension
Plan so that they can retire with the dignity they deserve.”
Ohio lawmakers praised the award.
“The
American Rescue Plan helped us keep the city going when I was at City
Hall, to pay our bills, protect city jobs, and maintain city services,”
said U.S. Rep. Greg Landsman.
“Now it’s helping restore pension cuts, this time for our carpenters,
who have literally helped build our communities. This puts money in
their pockets, allows them to pay their bills, and strengthens local
economics as these dollars are spent here at home.”
Today, we are putting money back in the pockets of hard-working Ohioans
and keeping our promise to the carpenters in Southwest Ohio, by
restoring the retirement security they’ve earned,” said Senator Sherrod Brown.
READ IT HERE
"Today, we are putting money back in the pockets of hard-working Ohioans"
WHO WERE ROBBED BY THEIR OWN UNION ON DIRECT ORDERS FROM DIRTY DOUG MCCARRON AND THE INTERNATIONAL
"enables the plan to
restore benefits previously suspended"
SUSPENDED/ROBBED BY THEIR OWN UNION ON DIRECT ORDERS FROM DIRTY DOUG MCCARRON AND THE INTERNATIONAL
"created as part of the broader stimulus package"
COMPLETE BULLSHIT.THIS NO PAYBACK GIVEAWAY UNION BAILOUT WAS CREATED BY THE WELL DOCUMENTED CROOKS AT THE TEAMSTERS UNION, THEIR HIRED CRONIES AND TEAMSTER BOUGHT AND PAID FOR POLITICAL HACKS.
"Now it’s helping restore pension cuts, this time for our carpenters"
WHO WERE ROBBED BY THEIR OWN UNION ON DIRECT ORDERS FROM DIRTY DOUG MCCARRON AND THE INTERNATIONAL
THE UBC SEIZED THE FUND AND OHIO COUNCIL IN A POWER GRAB
This merger was accomplished by a "military
style assault" on the OVRCC's offices in Cleveland, Ohio, in which all of
the elected officers of the OVRCC were fired, and the IKROCC's officers were put in control
MCCARRONS FREEMONT AVE CANDY ASS GANG
THE UBC CREATED A NEW BS VARIABLE PENSION FUND AND TANKED THE EXISTING BENEFIT BENEFIT FUND
In 2011 the
Indiana,Kentucky Regional Council listed this Defined Contribution Plan for a
retirement plan..EIN 351833932 called the Indiana/Kentucky/Ohio Regional
Council of Carpenters Defined Contribution Pension Trust Fund .In 2011 it was
declared on the 5500 as a new "profit sharing plan" created at the
same time as the forced merger of the Ohio and Vicinity Regional Council of
Carpenters (OVRCC) with the Indiana/Kentucky Regional Council of Carpenters
(IKRCC)ordered by McCarron and Yeggy of the UBC International..
OUR UNIONS WROTE AND FINANCED LEGISLATION CALLED THE MULTI EMPLOYER REFORM ACT ALLOWING OUR OWN UNIONS TO ROB RETIREES PENSIONS CHECKS TO COVER FOR THEIR LOOTING AND MISMANAGEMENT OF OUR PENSION FUNDS
THESE ARE THE NCCMP/UNION RATS WHO WROTE THE MULTI EMPLOYER REFORM ACT AND USED IT TO ROB THEIR OWN RETIREES
THE UBC ROBBED OHIO RETIREES PENSION CHECKS
THE APPLICATION FOR
CUTS USING MPRA WAS ORDERED BY UBC PRESIDENT DIRTY DOUG MCCARRON AND AND HIS CRONIES AFTER
SEIZING THE OHIO COUNCIL IN YET ANOTHER FORCED MERGER AND POWER GRAB AND
TANKING THE OHIO FUND
2013
The Plan again met
with Chris Heinz of Grossman Heinz to receive updates (Heinz is and NCCMP
RAT)about possible relief pursuant to the report prepared by the National
Coordinating Committee for Multiemployer Plans ("NCCMP"). There was
some hope that the recommendations could be introduced during the fall of
2013.At each Board of Trustee meeting, the Trustees dedicated significant time
towards consideration of benefit suspensions, as well as alternative plan
designs such as variable defined benefit plans
https://www.treasury.gov/.../SWORCC_Approval_letter.pdf...
THE TAXPAYERS ARE NOW BEING FORCED TO PAY FOR THE CORRUPT AND ILLEGAL ACTS OF THE UNITED BROTHERHOOD OF CARPENTERS CRIMINAL SYNDICATE AND OTHER UNIONS SUCH AS THE WELL DOCUMENTED CORRUPT TEAMSTERS UNION.
THE TEAMSTER CENTRAL STATES PENSION FUND WILL GET A NO PAYBACK $36 BILLION GIVEAWAY TO COVER FOR THEIR LOOTING OF THE CENTRAL STATES FUND
ALL RETIREES WHO WERE ROBBED BY THE UBC AND OTHER UNIONS SHOULD BE MADE WHOLE.THE FEDERAL AGENCIES IN PLACE TO PROTECT ERISA FUNDS AND TO HOLD UNION CRIMINAL SYNDICATES LEGALLY LIABLE REFUSE TO DO THEIR JOB.THESE AGENCIES ARE CONTROLLED BY WASHINGTON POLITICAL HACKS AND UNION PAYOFFS.THEY NOT ONLY REFUSED TO DO THEIR JOBS BUT IN SOME CASES THEY CONSPIRED WITH UNIONS TO BETRAY FUND PARTICIPANTS
THE BAILOUT OF UNION PENSION FUNDS SO CROOKS LIKE THE UBC CAN CONTINUE TO LOOT AND MISMANAGE UNION PENSION FUNDS IS NOT THE BURDEN OF THE TAXPAYERS
WHY ISN'T THE UBC BEING FORCED TO COVER THE PENSION FUNDS THEY ROBBED AND LOOTED INSTEAD OF THE TAXPAYERS??
LETS REFRESH THE
HISTORY OF THE UBC INTERNATIONAL SCUM BAGS TANKING OF THIS FUND
The Southwest Ohio
Regional Council of Carpenters Pension Plan EIN 316127287, was and is a defined
benefit plan which in 2011 received contributions from signatory's for members
of the Ohio and Vicinity Regional Council of Carpenters.
In 2011 per the
following court case Case No. 1:11-cv-677 (S.D. Ohio Feb. 15, 2013)Cloke v.
United Bhd. of Carpenters & Joiners of Am. it is declared "Plaintiff
makes the following allegations in support of his claims: On August 8, 2011,
pursuant to § 6(A) of the UBC General Constitution, UBC General President
McCarron dissolved the Ohio and Vicinity Regional Council of Carpenters (OVRCC)
and merged it with the Indiana/Kentucky Regional Council of Carpenters (IKRCC),
thereby forming the new Indiana/Kentucky/Ohio Regional Council of Carpenters
(IKORCC). (Doc. 32, § 1, p. 6). This merger was accomplished by a
"military style assault" on the OVRCC's offices in Cleveland, Ohio,
in which all of the elected officers of the OVRCC were fired, and the IKRCC's
officers were placed in control of the new IKORCC and of delegates appointed
from the affected locals to the new IKORCC.
In 2011 the
Indiana,Kentucky Regional Council listed this Defined Contribution Plan for a
retirement plan..EIN 351833932 called the Indiana/Kentucky/Ohio Regional
Council of Carpenters Defined Contribution Pension Trust Fund .In 2011 it was
declared on the 5500 as a new "profit sharing plan" created at the
same time as the forced merger of the Ohio and Vicinity Regional Council of
Carpenters (OVRCC) with the Indiana/Kentucky Regional Council of Carpenters
(IKRCC)ordered by McCarron and Yeggy of the UBC International..
So WHAT Pension fund
were the hours put into from 2011 on. The "defined benefit" Southwest
fund or the kiss the employers ass "defined contribution" plan
created to benefit not the UBC members but the employers..Did the UBC order the
hours of the merged by force Ohio and Vicinity Regional Council of Carpenters
into the newly created Indiana/Kentucky/Ohio Regional Council of Carpenters
Defined Contribution Pension Trust Fund cutting the throats of the Southwest
Ohio Pension Fund participants and fund.
The Southwest Plan
from 2012 to 2015 has lost over 60 contributing employers while the
Indiana/Kentucky/Ohio Regional Council of Carpenters Defined Contribution
Pension Trust Fund has gained 200 contributing employers.Who ordered this??This
action was a premeditated action to tank the Southwest Pension Fund and destroy
retirement benefits for the Southwest Fund
participants and UBC
members in favor of a COMPOSITE PLAN
These fund Trustees
were working to cut these UBC participants benefits and create a composite plan
even BEFORE the UNION written legislation to steal from Retirees was passed in
Dec 2014. After this fund was dropped from $99 to $50 a credited year and they
were salivating over the chance for cuts under MPRA. The UBC International was
behind the MPRA legislation and working towards cuts for these retirees.
From the MPRA application.
2012:
As the Trustees
continued to discuss the impact of lower hours, the Board began to discuss and
consider the advantages of hybrid pension plan designs.
2013
The UBC
International used Christopher Heinz of Grossman Heinz to lobby for the MPRA
legislation written to destroy 50 years of ERISA protection to retirees and
allow those who are looting and mismanaging UBC funds to steal from retirees
pension checks to cover their destruction of a fund. Funny how Heinz is not
listed as a lobbyist on the UBC LM2 but a consultant. What was this independent
OHIO fund doing with UBC International Heinz....
2013
In June, the Board
of Trustees met with Chris Heinz, who served as a legislative consultant to the
United Brotherhood of Carpenters. Mr. Heinz was then seeking legislative relief
from the United States Congress to permit pension plans to reduce accrued
benefits of participants and retirees in pay status. The Plan authorized Mr.
Heinz to use the Plan's funding situation and identity to demonstrate the
utility of a legislative fix.
2013
The Plan again met
with Chris Heinz of Grossman Heinz to receive updates about possible relief
pursuant to the report prepared by the National Coordinating Committee for
Multiemployer Plans ("NCCMP"). There was some hope that the
recommendations could be introduced during the fall of 2013.At each Board of
Trustee meeting, the Trustees dedicated significant time towards consideration
of benefit suspensions, as well as alternative plan designs such as variable defined
benefit plans
2014
At the end of the
year, the Multiemployer Pension Reform Act of 2014 was passed and signed into
law.
2015
The Board of
Trustees continued to consider the potential impact of the tools provided by
MPRA and
waited for additional
guidance on benefit suspensions and application procedures. At each Board of
Trustee meeting, the
Trustees dedicated significant time towards consideration of benefit
suspensions, as
well as alternative
plan designs such as variable defined benefit plans and an "Evergreen
Plan" design
created by the
Plan's actuary. The Evergreen Plan establishes a Section 414(k) account inside
a pension
plan, and utilizes
the Plan's Evergreen account to receive a transfer of defined contribution
account
balance, which is
then annuitized and paid to the Participant in the form of a monthly benefit
Each participant
would have an Evergreen account equal to contributions made on the member's
behalf plus returns and less expenses.
The Board of
Trustees scheduled and held a special meeting dedicated solely to the issues to
the
consideration of
alternative plan designs and possible benefit suspensions.
2016:
The Board of
Trustees continued to review possible benefit suspensions. In addition, the
Plan's actuary provided information and guidance on the possibility of an
alternative plan design such as the "Evergreen" plan or the
"Composite Plan" rumored to be a possible newly available
option.
Now we see how the
UBC international tanked a fund using a composite plan scam and proof
an International Union conspired to create and use MPRA to steal from retirees.
Now the taxpayers are being forced pay $183 million for this fraud!!
