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Brown Cafe UPS Forum
UPS Union Issues
Biggest scam is on all UPS hourly employees
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<blockquote data-quote="Bill" data-source="post: 171537" data-attributes="member: 5483"><p>You mention companies that controlled the pension and misused it for corporate gain at the expense of the employees. The Teamsters are a multipension plan that is simply failing. Under the APWA, the single pension plan will be controlled by a union(APWA) and not UPS. UPS will continue to contribute into the fund, but the difference between the Teamsters and the APWA is that the APWA will have access to 100% of the money going to UPS people, as opposed to 40% under the Teamsters. What don't you understand?</p><p> Single pension plans are risky if a company has many liabilities, as many airlines do. UPS has a history of solid financial strength. UPS is constantly in the top fortune 500 companies. Very little risk involved with UPS going out of business or declaring bankruptcy, thus the pension money would continue to contributed by UPS annually. In a single pension plan, we all stand to gain considerably.</p></blockquote><p></p>
[QUOTE="Bill, post: 171537, member: 5483"] You mention companies that controlled the pension and misused it for corporate gain at the expense of the employees. The Teamsters are a multipension plan that is simply failing. Under the APWA, the single pension plan will be controlled by a union(APWA) and not UPS. UPS will continue to contribute into the fund, but the difference between the Teamsters and the APWA is that the APWA will have access to 100% of the money going to UPS people, as opposed to 40% under the Teamsters. What don't you understand? Single pension plans are risky if a company has many liabilities, as many airlines do. UPS has a history of solid financial strength. UPS is constantly in the top fortune 500 companies. Very little risk involved with UPS going out of business or declaring bankruptcy, thus the pension money would continue to contributed by UPS annually. In a single pension plan, we all stand to gain considerably. [/QUOTE]
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Biggest scam is on all UPS hourly employees
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