Central States Pension Fund cuts

[Inthegame]

I wonder how good the healthcare is going to be after a few years of the union running it?

The "union" has been running my healthcare plan for over 50 years. It continues to get better.

 

[Inthegame]

Like my Mom said, "People don't know what they don't understand."

Your mom was right. It appears that advice doesn't stop you from commenting on how unions operate.

 

[Catatonic]

Your mom was right. It appears that advice doesn't stop you from commenting on how unions operate.

When have I commented on how Unions operate?

 

[Catatonic]

I wonder how many central states participants that got their pensions cut voted for the ups contract in 1982 that cut the pay for the part timers?

Holy cow!
We agree on something.

 

[Inthegame]

Yes, but the UPS/IBT pension is 104% funded.

This means that the pensions are basically paid for.

Unless UPS dips into the pension money, it does not bother Wall St at all.

Tell that to the analysts ... They know better than to believe that.

The "analysts" as Mug correctly pointed out, have rated UPS a "buy", and that's with the onerous obligations so feared by the other "analysts" involved in the secret meetings Photog is so protective of.

 

[Catatonic]

The "analysts" as Mug correctly pointed out, have rated UPS a "buy", and that's with the onerous obligations so feared by the other "analysts" involved in the secret meetings Photog is so protective of.

They are not secret ... I have "Insider Information" and I am unsure about what to disclose here.
I don't think UPS was told anything that any other publicly traded corporation gets.
UPS BOD and Management Committee are obligated to maximize shareholder value.
Not having pension obligations would increase shareholder value.
$10 billion in unexpected pension funding in the last 10 years is not a good sign for UPS stock.
UPS being on the S&P 500 helps buoy stock price.

 

[Bubblehead]

The "union" has been running my healthcare plan for over 50 years. It continues to get better.

Then obviously you aren't in TeamCare and weren't in its predecessor, the Central States C6 plan?
If you were, there would be no way you could make that claim.

 

[Sportello]

UPS BOD and Management Committee are obligated to maximize shareholder value.

They have failed spectacularly in that regard.

 

[Inthegame]

Then obviously you aren't in TeamCare and weren't in its predecessor, the Central States C6 plan?
If you were, there would be no way you could make that claim.

You are correct but...the TeamCare plan is superior to the predecessor CS C6 plan so union H&W can and has improved. The sky is still above us...

 

[Bubblehead]

You are correct but...the TeamCare plan is superior to the predecessor CS C6 plan so union H&W can and has improved. The sky is still above us...

It's improved, for now, thanks to the Vote No movement.
The sky will begin to fall in 2017, when the annual deductible begins.

 

[UpstateNYUPSer(Ret)]

I wonder how good the healthcare is going to be after a few years of the union running it?

I've had it for 26 years and have zero complaints.

 

[Jkloc420]

I've had it for 26 years and have zero complaints.

I am part time guys.

 

[Jkloc420]

I've had it for 26 years and have zero complaints.

I had atena prior to 2014 and now it is teamcare.

 

[UpstateNYUPSer(Ret)]

I am part time guys.

Yeah....so....

The Union pays the bills while a private company administers the plan.

Up here they use BC/BS, VSP and Medco.

 

[UpstateNYUPSer(Ret)]

I had atena prior to 2014 and now it is teamcare.

It is called Teamcare but the plan itself is administered by a private company.

 

[Jkloc420]

It is called Teamcare but the plan itself is administered by a private company.

Point is ups paid for it before and now they give the union money to do it.

 

[UpstateNYUPSer(Ret)]

Point is ups paid for it before and now they give the union money to do it.

You're not too bright, are you?

 

[Jkloc420]

You're not too bright, are you?

 

[Bubblehead]

I've had it for 26 years and have zero complaints.

Being as close to Canada as you are, I can understand why you wouldn't know the difference.

 

[Mugarolla]

They are not secret ... I have "Insider Information" and I am unsure about what to disclose here.
I don't think UPS was told anything that any other publicly traded corporation gets.
UPS BOD and Management Committee are obligated to maximize shareholder value.
Not having pension obligations would increase shareholder value.
$10 billion in unexpected pension funding in the last 10 years is not a good sign for UPS stock.
UPS being on the S&P 500 helps buoy stock price.

$10 billion in unexpected pension funding in the last 10 years

Did you just make up this number?

$6.1B to the CSPF is the only unexpected.

The other $4B is not unexpected. As a matter of fact, it is less than what UPS would have paid to CSPF over the life of the affected employees.

While the $6.1B was unexpected, that payment will save UPS 5 fold over the next 50 years.

If UPS got rid of the union pensions, would their stock price go up? Maybe.

If UPS got rid of all their dead weight, good for nothing, number cheating, dishonest, disrespected managers, their stock price would sky rocket.

And no, not everyone is like this. But there are far too many.