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Brown Cafe UPS Forum
UPS Union Issues
Another example of Central States mismanagement
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<blockquote data-quote="Bill" data-source="post: 216716" data-attributes="member: 5483"><p><strong>Re: What Are The Teamsters Doing To Fix The Pension Problems?</strong></p><p></p><p></p><p>I don't know what crystal ball you are looking into, but the CS pension fund is in such a mess, there is no turning it around any longer. While the assets have gone up over the last few years, the liabilities have gone up faster. This puts the fund in worse shape each year. The number of retirees are double the number of active participants. As more people retire each year, the liabilities increase. By cutting our benefits and forcing us to worker longer, the pension fund is keeping the money longer,but the reality is that it is only delaying the inevitable by 10 years, in which case the fund will be worse off than now, if it is not bankrupt by then. Question for you and red: If all UPS employees do the same job throughout the country, then why do some of us receive better benefits and pensions than others? We should all receive the same benefits no matter where we work. Do you agree or disagree?</p></blockquote><p></p>
[QUOTE="Bill, post: 216716, member: 5483"] [b]Re: What Are The Teamsters Doing To Fix The Pension Problems?[/b] I don't know what crystal ball you are looking into, but the CS pension fund is in such a mess, there is no turning it around any longer. While the assets have gone up over the last few years, the liabilities have gone up faster. This puts the fund in worse shape each year. The number of retirees are double the number of active participants. As more people retire each year, the liabilities increase. By cutting our benefits and forcing us to worker longer, the pension fund is keeping the money longer,but the reality is that it is only delaying the inevitable by 10 years, in which case the fund will be worse off than now, if it is not bankrupt by then. Question for you and red: If all UPS employees do the same job throughout the country, then why do some of us receive better benefits and pensions than others? We should all receive the same benefits no matter where we work. Do you agree or disagree? [/QUOTE]
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Another example of Central States mismanagement
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