Who Needs MPRA?

A scant week after the the multiemployer pension bailout was enacted one large plan reversed course towards that pot of gold.

Their application withdrawal letter just popped up on the MPRA website.

Plan Name: American Federation of Musicians and Employersโ€™ Pension Fund and Subsidiary

EIN/PN: 51-6120204/001

Total participants @ 3/31/20: 51,295 including:

  • Retirees: 17,116
  • Separated but entitled to benefits: 13,777
  • Still working: 20,402

Asset Value (Market) @ 4/1/19: 1,802,580,746

Value of liabilities using RPA rate (3.08%) @ 4/1/19: $5,321,113,649 including:

  • Retirees: $2,452,148,334
  • Separated but entitled to benefits: $755,643,791
  • Still working: $2,113,321,524

Funded ratio: 33.88%

Unfunded Liabilities as of 4/1/19: $3,518,532,903

Asset Value (Market) as of 3/31/20: $1,557,738,928

Contributions (MB): $75,073,680

Contributions (H): $74,976,332

Payouts: $200,079,679

Expenses: $36,628,671

43 responses to this post.

  1. Posted by Tough Love on March 18, 2021 at 5:47 pm

    Anyone want to make guesses on how much greater (than the stated est. of $86 B) the cost of this BAILOUT obscenity will grow to ?

    Reply

    • Posted by Rex the Wonder Dog!๐Ÿถ๐Ÿถ๐Ÿถ๐Ÿพ๐Ÿพ๐Ÿพ on March 18, 2021 at 6:04 pm

      Anyone want to make guesses on how much greater (than the stated est. of $86 B) the cost of this BAILOUT obscenity will grow to ?
      STFU you stupid ass, what the hell you trying to do = JINX us ๐Ÿคฆโ€โ™‚๏ธ

      Reply

    • Posted by MJF on March 18, 2021 at 7:50 pm

      They already have a full backstop on student loans and mortgages so maybe this is chump change. The feds will chip in another 10 trillion without blinking, Biden and Co. are just getting warmed up. Bet you the reported fed debt will hit 50 trillion by the end of his term.

      Reply

    • Posted by E on March 19, 2021 at 7:05 am

      I agree w Rex that you should STFU. Why? Cause YOU voted for this. This is what you KNEW would happen!!!!!! You knew you were voting for a man who really isnโ€™t all there and NOT making the decisions here. And that those close to him wanted this. Stop whining now. I can criticize that human filth Christie because I did NOT vote for him twice. I assume you didnโ€™t vote for Murphy, so feel free. But with Biden, we ALL knew what we were getting.

      Reply

  2. Posted by Tough Love on March 18, 2021 at 5:59 pm

    ANOTHER example of the Public Sector ripoff of NJ’s Taxpayers …………

    Article: “Why did I get a Medicare Part B reimbursement check?”

    https://www.nj.com/news/2021/03/why-did-i-get-a-medicare-part-b-reimbursement-check.html
    ——————————-

    Nobody reimburses Private Sector Taxpayers on Medicare for their Medicare premiums, so WHY should Taxpayers be doing so for NJ’s Public Sector retirees ?

    Answer ….. they SHOULDN’T !

    Reply

    • Posted by Rex the Wonder Dog!๐Ÿถ๐Ÿถ๐Ÿถ๐Ÿพ๐Ÿพ๐Ÿพ on March 18, 2021 at 6:06 pm

      Nobody reimburses Private Sector Taxpayers on Medicare for their Medicare premiums, so WHY should Taxpayers be doing so for NJโ€™s Public Sector retirees ?
      Getting ass bonked by these greedy bastards never F’ing ends… One thing after another after another… I am SHOCKED that NJ reimburses for their premiums…

      Reply

      • Posted by Tough Love on March 18, 2021 at 8:31 pm

        Youโ€™re kidding โ€ฆโ€ฆโ€ฆ.

        You, being from CA, the KING of Public Sector give-aways, shouldnโ€™t be surprised by ANYTHING Elected Officials will do to lock up the UNION votes needed to be re-elected.

        Reply

        • Posted by Rex the Wonder Dog!๐Ÿถ๐Ÿถ๐Ÿถ๐Ÿพ๐Ÿพ๐Ÿพ on March 19, 2021 at 2:20 am

          I should never be shocked at any fraud scam the public unions are pulling, yet I still am. Every time it happens.

          Reply

    • Posted by E on March 19, 2021 at 7:09 am

      As you know, that will end soon enough. Most actives, will NOT have part B reimbursed. My father had it reimbursed every year he was retired. Union electrician. Many others did. It is a benefit that is disappearing. It is disappearing from public sector as well. Let not your Biden voting pajama clad heart be troubled.

      Reply

      • Posted by Rex the Wonder Dog!๐Ÿถ๐Ÿถ๐Ÿถ๐Ÿพ๐Ÿพ๐Ÿพ on March 19, 2021 at 11:33 am

        As you know, that will end soon enough.
        You don’t GET IT, these benefits should have NEVER been granted in the first place. Come on EG, out that GED “Thinking Cap” on.

        Reply

  3. Posted by Tough Love on March 18, 2021 at 8:24 pm

    Wow, is America filled with dumbasses…….

    https://www.cnn.com/videos/health/2021/03/18/tuchman-vaccine-trump-biden-coronavirus-vpx.cnn

    Just listen to their reasons why they won’t take the Covid vaccine.

    Reply

    • Posted by Tough Love on March 18, 2021 at 8:31 pm

      You’re kidding ……….

      You, being from CA, the KING of Public Sector give-aways, shouldn’t be surprised by ANYTHING Elected Officials will do to lock up the UNION votes needed to be re-elected.

      Reply

  4. Posted by MJ on March 19, 2021 at 5:39 am

    Yup, it’s hard to believe isn’t it that these chumps get reimbursed for Medicare payments. Never seems to end…….and yet, no one really seems to care or maybe they don’t know or maybe they are on the receiving end.

    I just shake my head and move on with my day

    Reply

    • Posted by E on March 19, 2021 at 7:12 am

      Donโ€™t listen solely to TL. She is a cherry picking anti public sector Biden loving work from home hack. As a said, many private sector unions had or still have this. My father if he was still alive wouldnโ€™t be paying for it either. But it is going the way of the dodo just like the sick leave payouts. They become more rare every year.

      Reply

      • Posted by Tough Love on March 19, 2021 at 11:24 am

        Sure sure ………… everything (VERY valuable and hence COSTLY perks) are ” going the way of the dodo”.

        Perhaps, but VERY VERY slowly, and in most cases only for NEW workers, keeping in place the excessive perks for decades for those already employed at the time of any change.

        Reply

      • Posted by Tough Love on March 19, 2021 at 11:52 am

        Quoting ……………….

        “…many private sector unions had or still have this (Medicare Premium reimbursement).”

        I work with Single-employer Private Sector Corporations. VERY VERY few have Unionized staff (with Unions only representing 6.3% of all Private Sector workers), and I do not know of even ONE such (Non-Union) company that makes such reimbursements……….. NOT ONE.

        Yes, SOME Private Sector Unions do this but I seriously doubt that “many” is accurate, with “a few” much likely being more accurate.

        Reply

    • Posted by PS Drone on March 19, 2021 at 12:57 pm

      You had it right the first time; “they” (the dolts paying for it) don’t know. If they did, if all aspects of public sector compensation and benefits were clearly known and understood by all private sector taxpayers in F’d up states like NJ, there would be torches and pitchforks in Trenton to protest and get changes made. But the public sector and all of its crooked and corrupt appendages take great pains to not publicize any of their under-the-table and undeserved rapes of taxpayers’ wallets. Power corrupts and in NJ, the public sector has absolute power.

      Reply

      • Posted by Tough Love on March 19, 2021 at 1:16 pm

        PS Drone,

        A few days ago on this Blog, as part of a comment, I picked a nice town in northern NJ (Montvale) and posted a link to the current Police contract.

        I’ll have to go back had see how soon that town Police Force is up for contract renewal, If that will be soon, perhaps I’ll go through that 72 page contract and LIST on this Blog every one of the generous (and often costly) perks that are common to Public Sector workers(especially Police) but rarely granted Private Sector workers.

        If Montvale’s Police contract isn’t up for renewal for some time, I’ll look for a different nearby town that is.

        Maybe we can (figuratively) awaken some “torches and pitchforks”.

        Reply

      • Posted by E on March 19, 2021 at 1:21 pm

        Cmon PS. Are you kidding me? Pitchforks and torches? No, you would have the same apathy that exists now. People bitch and moan but really donโ€™t do anything except a few gadflys, if you will, who actually attempt to get involved. No one knows? Cmon, of course most everyone knows. The Record, NJ.COM, APP.COM etc have been broadcasting article after article for years on this. If not decades!!! Most folks for better or worse, say โ€œthese fucking teachers,(or whomever the article is about) and then go about their day. Even TL who bitches every day about does nothing except post on here. She doesnโ€™t petition her legislators or run for office or any of that. We are lucky she leave the house now. She splits her time between bashing me and bashing Trump.

        Reply

        • Posted by E on March 19, 2021 at 1:28 pm

          @TL, Montvale is very well paid and I believe is under contract for a couple more years. I work in that neck of the woods. You can check that and any other public sector contract on the NJ PERC website. Folks have been not only able to do that, but have been able to check individual salaries of anyone enrolled in the pension funds. Active or retired. Itโ€™s all there, black and white clear as crystal….only we didnโ€™t steal fuzzy lifting drinks.
          This info has been online for at least a decade or so. Right there for anyone to see. So there certainly is no hiding on the part of the associations that represent these pensioners. No pitchforks. Just plain old apathy.
          And YOU voted for a guy who is going to greatly expand the amount of money you pay in taxes!!!! Talk about crazy.

          Reply

          • Posted by Tough Love on March 19, 2021 at 7:05 pm

            I’m wasn’t referring to the posted wages, but to the ridiculous contract provisions buried in Police contracts.

            I’d guess* few Taxpayers are aware of the large # of generous perks and costly work rules included.

            I’ll check out that Montvale contract (or a nearby town up for contract renewal soon), and post some of the most outrageous/costly provisions that no Private Sector employer (in his/her right mind) would agree to.

            * yes Stephen Douglas, another “guess” Is that Ok with you ?

          • Posted by A on March 19, 2021 at 8:10 pm

            It’s not up to me, but I would agree that most folks don’t know (or care, really). Even a lot of public workers aren’t aware of some of their own benefits, as evidenced by the cited article.

            Most also are not aware of the number and value of many private sector salaries and perks.* It would make your head spin, and, guess what? You pay for it. Whether you like it or not, it’s gonna happen.

            *post Pogo cartoon here.

        • Posted by PS Drone on March 19, 2021 at 3:16 pm

          You’re right, ignorance and apathy are the public sector’s two greatest friends (outside of crooked and ball-less politicians). Fortunately for you and your over-compensated brethren, there are countless morons in NJ who just mosey along and do what they are told by phonies like Murphy.

          Reply

          • Posted by E on March 19, 2021 at 9:14 pm

            Including you? You kinda seem the moseying type. Lol. โ€”itโ€™s ok. I like ya PS. A man who put 6 thru college has earned the right to bitch about my compensation. Another certain, powder puff type in her jammies? Not so much. ๐Ÿ˜†

  5. Posted by A on March 19, 2021 at 9:01 am

    I told you so. For at least ten years, Tough Love has been a veritable cornucopia of exaggeration. Often in error, never in doubt.

    Reply

    • Posted by Rex the Wonder Dog!๐Ÿถ๐Ÿถ๐Ÿถ๐Ÿพ๐Ÿพ๐Ÿพ on March 20, 2021 at 12:00 am

      I told you so. For at least ten years, Tough Love has been a veritable cornucopia of exaggeration. Often in error, never in doubt.
      And I have told YOU Dougieee, or the last 20 YEARS, going back to the OCR’s “OrangePunch” days, that you’re the biggest bullshit artist in Stoogeland ๐Ÿคฆโ€โ™‚๏ธ

      Reply

  6. Posted by A on March 19, 2021 at 9:28 am

    Now wait for the excuses.

    Reply

    • Posted by Tough Love on March 19, 2021 at 11:19 am

      No Stephen Douglas, not “excuses”, just pointing out your EXTREME bias (supporting everything & anything “Public Sector”), and ….. as usual ………… your misleading statements.

      Per the BLS, in 2020 only 6.3% of Private Sector workers belong to Unions, and with most of those in lower income occupations, I’d guess that well less than 10% (of that 6%) get their Medicare Premiums reimbursed byt the former employers in retirement …….. as do Public Sector workers (as linked in my above comment).

      So what is it ……….. 10% of 6% or with well less than 1% of Private Sector workers likely getting such Medicare Premium reimbursements, WHY should Public Sector workers get it.?

      Go ahead Stephen …….. tell the readers WHY/

      Reply

      • Posted by Rex the Wonder Dog!๐Ÿถ๐Ÿถ๐Ÿถ๐Ÿพ๐Ÿพ๐Ÿพ on March 19, 2021 at 11:38 am

        Per the BLS, in 2020 only 6.3% of Private Sector workers belong to Unions, and with most of those in lower income occupations, Iโ€™d guess that well less than 10% (of that 6%) get their Medicare Premiums reimbursed byt the former employers in retirement
        10%? Are you serious TL? 10%???? I have never, ever heard of private sector employees, union or no union, getting their healthcare premiums REIMBURSED. That shit just doesn’t happen in REAL LIFE… The same way Janitors don’t make $271K/year in REAL LIFE (see Bay Area BART). The same way GED “Port Pilots” (see Port of Long Beach/LA County) would never, ever make $500K/year in REAL LIFE. What this is, Public Unions/Employment, is institutionalized fraud. This is all it is, plain and simple.

        Reply

        • Posted by Tough Love on March 19, 2021 at 12:51 pm

          I’ve simply called it THEFT, but your term has a nice ring to it ………..

          “institutionalized fraud”

          Reply

          • Posted by E on March 19, 2021 at 1:30 pm

            Keep kissing his ass, fool.

          • Posted by Rex the Wonder Dog!๐Ÿถ๐Ÿถ๐Ÿถ๐Ÿพ๐Ÿพ๐Ÿพ on March 19, 2021 at 8:56 pm

            Keep kissing his ass, fool.

            LOL… El Feo, you kill me sometimes… You have the thinnest skin out of ANYONE commenting here. You know that already though๐Ÿคฆโ€โ™‚๏ธ๐Ÿคฆโ€โ™‚๏ธ๐Ÿคฆโ€โ™‚๏ธ … here, this is for you lil buddy ๐Ÿ˜Ž

  7. AS

    ALWAYS

    A. Because they bargained it in good faith, usually in lieu of higher cash wages. Because it is bad optics to increase public worker salaries when revenues are down (or when revenues are up). Public sector unions are doing their fiduciary duty for their members.

    B. Now you’re “guessing” again, about how many private sector workers -may- have this benefit and/or how many public sector workers do.

    C. WHY, Oh “WHY should Public Sector workers get it.?” Because, public and private sector wages and benefits are determined by different influences.

    D. …just pointing out your EXTREME bias ([opposing] everything & anything โ€œPublic Sectorโ€). It’s verging on paranoia, Dawg, and it ain’t good for your health. Or ours.

    E. Stephen is all in for public (and private) sector pension reform. The sooner, the better. It’s more important for your grandchildren, and mine, than it is for us. Base reform on actual data and financial principles, not on your bullshit guesses and petty jealousy.

    ……………………………..
    Tough Love onย March 18, 2021 at 5:59 pm

    “Nobody reimburses Private Sector Taxpayers on Medicare for their Medicare premiums,…”
    ……………………………….
    Tough Love onย March 19, 2021 at 11:52 am

    “I work with Single-employer Private Sector Corporations. …and I do not know of even ONE such (Non-Union) company that makes such reimbursementsโ€ฆโ€ฆโ€ฆ.. NOT ONE.”
    ………………………………….
    Tough Love onย March 19, 2021 at 11:19 am

    “So what is it โ€ฆโ€ฆโ€ฆ.. 10% of 6% or with well less than 1% of Private Sector workers likely getting such Medicare Premium reimbursements…”
    ……………………………………
    I dunno, Mr. Love, what is it?

    Reply

    • Posted by Tough Love on March 19, 2021 at 1:07 pm

      Re your “A” ………… “bargained in goof faith”

      Are you fuc**** kidding me. They “bargain” with those with whom they have HUGE sway over their re-election hopes, and who are beholden to the Public Sector Unions for campaign contributions.
      ———————————–

      Re your “B” ………….. yes “guessing” is necessary.
      ————————————–
      Re your “C” …………. “Because, public and private sector wages and benefits are determined by different influences.” ……….

      Just another way of saying …….. WE (public Sector workers) now get MORE, (MUCH more), and any bullshit we can come up with to try to justify it is fair game.
      ———————————–
      Re your “D” ………….. you’re an idiot.

      ———————————
      Re your “E” ………………. “Stephen is all in for public (and private) sector pension reform. ”

      Bullshit. With a 20%-of-pay Total Compensation advantage in 45 out of 50 States (per Figure 13 of Biggs AEI compensation study), immediate very material reductions in Public Sector compensation are justified.

      You support NOTHING that would even remotely get close to eliminating that Public Sector total Compensation ADVANTAGE, just “excuses” why we can’t (or shouldn’t) do this or do that.
      —————————————————

      Reply

    • Posted by Rex the Wonder Dog!๐Ÿถ๐Ÿถ๐Ÿถ๐Ÿพ๐Ÿพ๐Ÿพ on March 19, 2021 at 8:58 pm

      Because they bargained it in good faith, usually in lieu of higher cash wages.
      Oh brother, what a MF’ing bullshitting liar Dougieee is. It just never ends. Bullshit here, bullshit there, bullshit everywhere.

      Reply

    • Advantage? We ain’t got no advantage! We don’t need no stinkin’ advantage!

      Reply

  8. Posted by A on March 19, 2021 at 3:50 pm

    Still a one trick phony, tilting at windmills.

    “โ€ฆโ€ฆโ€ฆโ€ฆ โ€œbargained in goof faith”

    Pretend you’re @ work, doing your own typing. And proofreading.

    Reply

    • Posted by Tough Love on March 19, 2021 at 7:09 pm

      Stephen Douglas …………. still a “mouthpiece” for the Public Sector Unions.

      Reply

      • Posted by Rex the Wonder Dog!๐Ÿถ๐Ÿถ๐Ÿถ๐Ÿพ๐Ÿพ๐Ÿพ on March 19, 2021 at 11:58 pm

        Stephen Douglas โ€ฆโ€ฆโ€ฆโ€ฆ. still a โ€œmouthpieceโ€ for the Public Sector Unions STOOGES.
        Here, I fixed this for you TL! It also doubles as Dougieee’s job title and description in Stoogeland ๐Ÿ˜Ž

        Reply

  9. […] Posted on March 20, 2021March 20, 2021 by Mary Pat Campbell Who Needs MPRA? […]

    Reply

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: