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Brown Cafe UPS Forum
UPS Union Issues
Central States penson fund is ready to go under.
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<blockquote data-quote="Bill" data-source="post: 191659" data-attributes="member: 5483"><p>Try looking at the whole picture. If the money that UPS contributed into the pension fund on our behalf was invested properly, we would all have over a million dollars upon retirement. They want to give us a fraction of this money upon retirement. Unfortunately, the Teamsters mismanaged our money through bad investments, and other poor choices. Employees of other companies are enjoying our money as we are in a multi-pension plan, which is a complete failure. The APWA has a viable plan, which is to support only UPS people, therefore guaranteeing all the money that UPS contributes. Properly invested, each person would have at least 1.2 million dollars and possibly up to 3 million. A conservative 8% investment return on 1 million is 96 thousand dollars. This calculates to an $8,000 per month pension. What don't you understand? Are you happy receiving much less from the Teamsters because they mismanaged the fund or 'took care of themselves and their cronies".</p></blockquote><p></p>
[QUOTE="Bill, post: 191659, member: 5483"] Try looking at the whole picture. If the money that UPS contributed into the pension fund on our behalf was invested properly, we would all have over a million dollars upon retirement. They want to give us a fraction of this money upon retirement. Unfortunately, the Teamsters mismanaged our money through bad investments, and other poor choices. Employees of other companies are enjoying our money as we are in a multi-pension plan, which is a complete failure. The APWA has a viable plan, which is to support only UPS people, therefore guaranteeing all the money that UPS contributes. Properly invested, each person would have at least 1.2 million dollars and possibly up to 3 million. A conservative 8% investment return on 1 million is 96 thousand dollars. This calculates to an $8,000 per month pension. What don't you understand? Are you happy receiving much less from the Teamsters because they mismanaged the fund or 'took care of themselves and their cronies". [/QUOTE]
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Central States penson fund is ready to go under.
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