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UPS Union Issues
Central states-what happens when???
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<blockquote data-quote="Spicybrother" data-source="post: 1612173" data-attributes="member: 11064"><p>The offset is a payment. It's the amount that UPS pays for the years since 2008. Centrals states does not pay for those years until after age 65.</p><p></p><p>Oh, UPS is screwing us. They went to Congress to screw us. They don't care about us or their own management. I wonder how much these guys got paid, John Kline (R-Minn.) and Democrat Rep. George Miller (D-Calif.) for the Kline-Miller amendment.</p><p></p><p>I'm not sure why you think UPS retires will receive little if any cuts??. The plan is only 50 percent funded and spending over 3 dollars for every dollar it takes in. Assuming you were balanced and spending 1 dollar for every dollar you took in, to restore the fund to 100% funding, you'd only have to cut benefits by 50%. They will actually have to do more than just cut benefits. They are going to have to increase the retirement age for those in the CS plan or some other measures. The "math" is overwhelming. Everyone is going to get some type of cut,even UPS retires. For UPS retirees not to get cuts, that would mean that some would have to receive greater than 50% cuts. For example you could cut a guy whose company went out of business by 70% and cut the UPS central states UPS guy by 30%. The problem is that UPS guys with large retirements likely represent a bigger percentage of the spending. So tell me how the guys with the biggest pension in the plan, don't take a cut? The guy who's company went out of business year ago, is only getting a pension a fraction of what a UPS guy is getting.</p></blockquote><p></p>
[QUOTE="Spicybrother, post: 1612173, member: 11064"] The offset is a payment. It's the amount that UPS pays for the years since 2008. Centrals states does not pay for those years until after age 65. Oh, UPS is screwing us. They went to Congress to screw us. They don't care about us or their own management. I wonder how much these guys got paid, John Kline (R-Minn.) and Democrat Rep. George Miller (D-Calif.) for the Kline-Miller amendment. I'm not sure why you think UPS retires will receive little if any cuts??. The plan is only 50 percent funded and spending over 3 dollars for every dollar it takes in. Assuming you were balanced and spending 1 dollar for every dollar you took in, to restore the fund to 100% funding, you'd only have to cut benefits by 50%. They will actually have to do more than just cut benefits. They are going to have to increase the retirement age for those in the CS plan or some other measures. The "math" is overwhelming. Everyone is going to get some type of cut,even UPS retires. For UPS retirees not to get cuts, that would mean that some would have to receive greater than 50% cuts. For example you could cut a guy whose company went out of business by 70% and cut the UPS central states UPS guy by 30%. The problem is that UPS guys with large retirements likely represent a bigger percentage of the spending. So tell me how the guys with the biggest pension in the plan, don't take a cut? The guy who's company went out of business year ago, is only getting a pension a fraction of what a UPS guy is getting. [/QUOTE]
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