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UPS Union Issues
Another example of Central States mismanagement
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<blockquote data-quote="sawdusttv" data-source="post: 230851" data-attributes="member: 7476"><p>I have never understood the arguement that there are more retirees drawing a pension than there are active members paying in.</p><p>For one the retirees that are drawing now, their pension money was paid in for the 30 odd years that they worked and it collected interest for that time so there should be enough to pay there pension. I know that the companies didn't pay in as much back then as they do now, but the retirees aren't drawing as much as now either. Now I,m working and the money is being paid in for my future retirement and it is collecting interest and making more money so the money should be there for my retirement when I get to that point. I know that the fund lost money during the 9\11 period but what about all the record profits that the fund and stock market made for the 10 or 12 years prior to that. Also, when they talk about the plan, they talk like every person from the first retiree on down is still drawing on the plan. NOT SO!!!! Were is all the money that was left in the plan when the numerous members died? Most of them never lived long enough to draw anywhere close to what was paid in on there behalf. We never hear anyone talk about that money.</p></blockquote><p></p>
[QUOTE="sawdusttv, post: 230851, member: 7476"] I have never understood the arguement that there are more retirees drawing a pension than there are active members paying in. For one the retirees that are drawing now, their pension money was paid in for the 30 odd years that they worked and it collected interest for that time so there should be enough to pay there pension. I know that the companies didn't pay in as much back then as they do now, but the retirees aren't drawing as much as now either. Now I,m working and the money is being paid in for my future retirement and it is collecting interest and making more money so the money should be there for my retirement when I get to that point. I know that the fund lost money during the 9\11 period but what about all the record profits that the fund and stock market made for the 10 or 12 years prior to that. Also, when they talk about the plan, they talk like every person from the first retiree on down is still drawing on the plan. NOT SO!!!! Were is all the money that was left in the plan when the numerous members died? Most of them never lived long enough to draw anywhere close to what was paid in on there behalf. We never hear anyone talk about that money. [/QUOTE]
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Another example of Central States mismanagement
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