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Thursday, October 8, 2015

Trimet will be coming for your benefits

Is Trimet better off than Greece?
We now know that it is the Cascade Policy Group that leads the charge against the Trimet union employees. Trimet executives sit back and pretend that 'they care' about employees but the truth is they want to cut your throats.
And here we have the EXACT SAME RHETORIC as the last time around.

As usual none of the claims is proven through a simple spreadsheet along with actual paid invoices to health care providers along with estimated future retirees. We have no mainstream media on our side to investigate any of these claims so what can we do?

We need PROOF of these claims in an easy to understand format. The last contract CHANGED the medical retirement benefits for all new employees entering the system and the pension has been changed to IRA rather than defined benefit so its very surprising to see this rhetoric almost unchanged from last time around.



For example these figures need to PROVEN to me in simple easy to understand language , not some bullshit accounting terms that nobody has the slightest clue about.

 ++last year TriMet’s “income” – money earned from customers buying rides, advertising, or services – totaled $153.4 million. The cost of fringe benefits such as pensions and health insurance equaled $166.8 million, or 109% of income. ++
 This should be easy to prove, lets see all the checks which can be pulled from the Trimet CHECK REGISTER to verify this claim. 

And lets see this spelled out on a simple spread sheet along with invoices and checks to verify all the entries:
 ++ $711 million in health care obligations, $18 million in pension liabilities for management, and $159 million in pension costs for the union. This sums to $888 million in actuarial accrued unfunded liabilities, or 579% of operating income. ++

Now lets watch to see if mainstream media starts pounding this drum. Mcfarlane is on his way out when his contract expires next July. What kind of idiot would keep working if you could make $13,000/Mo for STAYING HOME. Lets not forget his fat $160,000 "unused vacation time" payout. This is how they do it folks, the executive class cuts the working class and gets fatter and fatter all the while.


Don't forget that Trimet is funded primarily by tax funds so every time they expand they need more tax funds to support the system. And in case you haven't noticed they have been expanding and hiring at the speed of light. Some people might actually think they are doing this with the intent of bankrupting the place. Bankrupt it then privatize it. Nah, only people with tin foil hats would believe that right?

There is a difference however, Mcfarlane himself has stated that the Trimet budget is finally sustainable.  
Would Mcfarlane lie about the situation?



2 comments:

Chris Day said...

Something to keep in mind is that September 1, 2015 TriMet raised Honored Citizens fare $0.25 cents.

Henry Beasley said...

$386 million over 30 years from the union contract gave him confidence.
HB