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UPS Union Issues
Another example of Central States mismanagement
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<blockquote data-quote="JonFrum" data-source="post: 216062"><p><strong>Re: Central States: 63% Funded, And Rising; Not 47% And Falling Toward Zero</strong></p><p></p><p></p><p></p><p>Mittam,</p><p>Engineer 79 likes to quote financial data that is several years old, TDU likes to quote financial data that is as up-to-date as possible. I think all data is revelant, but the most current data is the most revelant. (Although even current data may be a bit outdated as long as the stock market keeps going up.)</p><p></p><p>Badpas,</p><p>The turnaround already took place. No need to wait. Every year the plan should steadily improve. </p><p></p><p>You do understand that whatever you Central States folks decide to do from this point on, you will always be members of the Central States pension fund, and you will be paid a Central States pension, based on your vested credits, when the time comes. You can't "unring the bell." What's done is done. Infact, you're stuck making hourly contributions to the fund at least until July 31, 2008! I think you should be concerned with the health of the fund since you'll be dependant on it until the day you die, and for several years after, if you have a surviving spouse. </p><p></p><p>If you have an alternative to Central States for your *future* contributions, please state *specificially* what the alternative is and provide all the details. Then we can all evaluate it. Everyone probably thinks they can do better in an IRA, or a 401(k), or a self-managed account, or a single-employer fund, etc., but you will all have to agree on what your alternative is, spell it out, then make it happen. Why won't you guys get specific?</p></blockquote><p></p>
[QUOTE="JonFrum, post: 216062"] [b]Re: Central States: 63% Funded, And Rising; Not 47% And Falling Toward Zero[/b] Mittam, Engineer 79 likes to quote financial data that is several years old, TDU likes to quote financial data that is as up-to-date as possible. I think all data is revelant, but the most current data is the most revelant. (Although even current data may be a bit outdated as long as the stock market keeps going up.) Badpas, The turnaround already took place. No need to wait. Every year the plan should steadily improve. You do understand that whatever you Central States folks decide to do from this point on, you will always be members of the Central States pension fund, and you will be paid a Central States pension, based on your vested credits, when the time comes. You can't "unring the bell." What's done is done. Infact, you're stuck making hourly contributions to the fund at least until July 31, 2008! I think you should be concerned with the health of the fund since you'll be dependant on it until the day you die, and for several years after, if you have a surviving spouse. If you have an alternative to Central States for your *future* contributions, please state *specificially* what the alternative is and provide all the details. Then we can all evaluate it. Everyone probably thinks they can do better in an IRA, or a 401(k), or a self-managed account, or a single-employer fund, etc., but you will all have to agree on what your alternative is, spell it out, then make it happen. Why won't you guys get specific? [/QUOTE]
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Another example of Central States mismanagement
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