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Central states-what happens when???
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<blockquote data-quote="Mugarolla" data-source="post: 1612492" data-attributes="member: 8481"><p>Incorrect. As described in the National Master, the offset is the amount you accrued in pension "prior" to 2008 paid to you once you turn 65.</p><p></p><p></p><p></p><p></p><p></p><p>No. They went to Congress to avoid having to pay for any reduction in pension. Since they are liable for any reduction, they asked Congress for, and got, an exception to not reduce any UPS retirees pension. Or to be at least last in line to receive cuts.</p><p></p><p></p><p></p><p></p><p>We agree on something.</p><p></p><p></p><p></p><p>Are you saying that they took a bribe? It was Congress as a whole that gave UPS their exemption, not just these 2 guys.</p><p></p><p></p><p></p><p></p><p>It's not my opinion. I researched it first. Do a little research. The articles from the pension experts are out there. They all say the same thing.</p><p></p><p>Due to the carve-out UPS got from Congress under the Kline-Miller Amendment, UPS retirees are last in line to receive cuts.</p><p></p><p>According to the experts, the way the bill is worded, UPS retirees will receive little, if any cuts at all.</p><p></p><p>And if they do receive a minor cut, UPS must make up the difference, per the contract.</p><p></p><p></p><p></p><p></p><p>Again, you are incorrect. The Center For Retirement Research at Boston College just published a report on a study they did on Central States Pension.</p><p></p><p>They concluded that a 30 percent cut in benefits across the board will keep Central States solvent indefinitely.</p><p></p><p></p><p></p><p></p><p></p><p>Those are the facts. Why do you think there are all these articles bashing UPS. Some retirees are going to have to take larger cuts because UPS retirees are taking little, if any.</p><p></p><p></p><p></p><p></p><p>No. More like cut the guy whose company went out of business by 60% and don't cut UPS at all.</p><p></p><p>You are forgetting that the guy your cutting 60% has been receiving a full pension from a company that never paid for it. They went out of business owing CS millions. UPS has paid their full CS liability.</p><p></p><p>Hostess went under owing CS $25M. Hostess retirees are receiving a full pension that Hostess never paid for.</p><p></p><p></p><p></p><p></p><p>They also gave more money to CS in the first place.</p><p></p><p></p><p></p><p></p><p></p><p>My opinion does not matter. What the law says is what matters.</p><p></p><p>I am sorry if the truth hurts.</p></blockquote><p></p>
[QUOTE="Mugarolla, post: 1612492, member: 8481"] Incorrect. As described in the National Master, the offset is the amount you accrued in pension "prior" to 2008 paid to you once you turn 65. No. They went to Congress to avoid having to pay for any reduction in pension. Since they are liable for any reduction, they asked Congress for, and got, an exception to not reduce any UPS retirees pension. Or to be at least last in line to receive cuts. We agree on something. Are you saying that they took a bribe? It was Congress as a whole that gave UPS their exemption, not just these 2 guys. It's not my opinion. I researched it first. Do a little research. The articles from the pension experts are out there. They all say the same thing. Due to the carve-out UPS got from Congress under the Kline-Miller Amendment, UPS retirees are last in line to receive cuts. According to the experts, the way the bill is worded, UPS retirees will receive little, if any cuts at all. And if they do receive a minor cut, UPS must make up the difference, per the contract. Again, you are incorrect. The Center For Retirement Research at Boston College just published a report on a study they did on Central States Pension. They concluded that a 30 percent cut in benefits across the board will keep Central States solvent indefinitely. Those are the facts. Why do you think there are all these articles bashing UPS. Some retirees are going to have to take larger cuts because UPS retirees are taking little, if any. No. More like cut the guy whose company went out of business by 60% and don't cut UPS at all. You are forgetting that the guy your cutting 60% has been receiving a full pension from a company that never paid for it. They went out of business owing CS millions. UPS has paid their full CS liability. Hostess went under owing CS $25M. Hostess retirees are receiving a full pension that Hostess never paid for. They also gave more money to CS in the first place. My opinion does not matter. What the law says is what matters. I am sorry if the truth hurts. [/QUOTE]
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