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Brown Cafe UPS Forum
UPS Union Issues
Central States Pension - UPS will not cover difference ?
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<blockquote data-quote="Ms.PacMan" data-source="post: 1145617" data-attributes="member: 4656"><p>I see what Spicy said as just the opposite - that UPS would let us earn pension credits under the new method but it is CS who has to honor the old service pension amounts after 65. I think it would have to be this way because legally a pension plan would have to follow their original guidelines. Plus, if they were going to guarantee the full amount until death, no matter what - that's what the SPD would say. </p><p></p><p>I agree that the new pension is much better and will work out great for new union employees. The best thing for a person to do is to look at the pension payouts you'll receive by playing around with the pension calculator. The calculator also shows what each fund will be liable for after you turn 65 and at least you will know the amount from CS that is in danger. </p><p></p><p><a href="http://www.ibtupspensionfund.ups.com/Calculator.htm" target="_blank">ttp://www.ibtupspensionfund.ups.com/Calculator.htm</a></p></blockquote><p></p>
[QUOTE="Ms.PacMan, post: 1145617, member: 4656"] I see what Spicy said as just the opposite - that UPS would let us earn pension credits under the new method but it is CS who has to honor the old service pension amounts after 65. I think it would have to be this way because legally a pension plan would have to follow their original guidelines. Plus, if they were going to guarantee the full amount until death, no matter what - that's what the SPD would say. I agree that the new pension is much better and will work out great for new union employees. The best thing for a person to do is to look at the pension payouts you'll receive by playing around with the pension calculator. The calculator also shows what each fund will be liable for after you turn 65 and at least you will know the amount from CS that is in danger. [URL="http://www.ibtupspensionfund.ups.com/Calculator.htm"]ttp://www.ibtupspensionfund.ups.com/Calculator.htm[/URL] [/QUOTE]
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