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UPS Union Issues
$2.50 Pension Increase for the Southwest is a Farce!
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<blockquote data-quote="Hawfuh Sux" data-source="post: 1166721" data-attributes="member: 48086"><p>Yes, I'm aware that the pension and healthcare funds are two separate funds. </p><p></p><p>However, the TEAMCARE fund they had planned to develop would have left them a lot of money to play with at the end of each month. For example, big entities that provide healthcare for their constituency get a fat check either at the end of each month, quarter or year. The addition of 140,000 members into TEAMCARE would have amounted to millions of dollars a year in kickbacks from the insurance companies. That was money the IBT planned to pump into the Central States Pension Fund. </p><p></p><p>407 Steward, I don't know how many years you have in the Teamsters but the Central States Pension Fund will most likely not survive the next 5 years if those 140,000 company plan members don't get merged into TEAMCARE aka Central States and Health and Welfare Fund.</p><p></p><p>If that carve-out that's in the works in the Southwest gets done by the end of this month and voted in by mid August, you folks in the Central States can kiss your retirements good-bye. </p><p></p><p>407 Steward, you guys in the Central States are gonna bottom-out before this contract is done. </p><p></p><p>Are you not worried?</p></blockquote><p></p>
[QUOTE="Hawfuh Sux, post: 1166721, member: 48086"] Yes, I'm aware that the pension and healthcare funds are two separate funds. However, the TEAMCARE fund they had planned to develop would have left them a lot of money to play with at the end of each month. For example, big entities that provide healthcare for their constituency get a fat check either at the end of each month, quarter or year. The addition of 140,000 members into TEAMCARE would have amounted to millions of dollars a year in kickbacks from the insurance companies. That was money the IBT planned to pump into the Central States Pension Fund. 407 Steward, I don't know how many years you have in the Teamsters but the Central States Pension Fund will most likely not survive the next 5 years if those 140,000 company plan members don't get merged into TEAMCARE aka Central States and Health and Welfare Fund. If that carve-out that's in the works in the Southwest gets done by the end of this month and voted in by mid August, you folks in the Central States can kiss your retirements good-bye. 407 Steward, you guys in the Central States are gonna bottom-out before this contract is done. Are you not worried? [/QUOTE]
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$2.50 Pension Increase for the Southwest is a Farce!
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