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UPS Union Issues
Central states-what happens when???
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<blockquote data-quote="Mugarolla" data-source="post: 1616859" data-attributes="member: 8481"><p>If they cut half the retirees to 10% over what the PBGC would pay, this would give them an overall 30% cut.</p><p></p><p>Now they only spend $2 for every $1 taken in. And the investment return covers the other dollar. Solvent indefinitely.</p><p></p><p>This has nothing to due with the PBGC guaranteeing the pension as you mentioned in your original post.</p><p></p><p>The government knows that if CS failed, so would the PBGC. This is why the cuts are so steep. The retirees receiving the biggest cuts are still going to receive more money than what the PBGC would pay if CS failed.</p><p></p><p>I know the cuts are bad, but they are still above what retirees would get if CS failed.</p></blockquote><p></p>
[QUOTE="Mugarolla, post: 1616859, member: 8481"] If they cut half the retirees to 10% over what the PBGC would pay, this would give them an overall 30% cut. Now they only spend $2 for every $1 taken in. And the investment return covers the other dollar. Solvent indefinitely. This has nothing to due with the PBGC guaranteeing the pension as you mentioned in your original post. The government knows that if CS failed, so would the PBGC. This is why the cuts are so steep. The retirees receiving the biggest cuts are still going to receive more money than what the PBGC would pay if CS failed. I know the cuts are bad, but they are still above what retirees would get if CS failed. [/QUOTE]
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