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Brown Cafe UPS Forum
UPS Union Issues
Company and teamsters have a tenative agreement taking over Central States ?
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<blockquote data-quote="Cezanne" data-source="post: 229305" data-attributes="member: 5104"><p>Can I say that most of are under the assumption that the balance of power in this contract is with UPS in regards with the Central States withdraw liability. Try answering the question of why UPS and other corporations are willing to pay billions to leave? The provisions of the new pension reform bill officially kicks in on January 2008, with it comes some stiff monetary pentalties for any benefit plan that falls under the so called Red-Line provision. Also that there is a time frame for these benefit plans to reach a sufficent vested percentage. You see monetary contributions will not be a negotiated item, it will be a federal mandate and it will make our current contributions look like peanuts.</p></blockquote><p></p>
[QUOTE="Cezanne, post: 229305, member: 5104"] Can I say that most of are under the assumption that the balance of power in this contract is with UPS in regards with the Central States withdraw liability. Try answering the question of why UPS and other corporations are willing to pay billions to leave? The provisions of the new pension reform bill officially kicks in on January 2008, with it comes some stiff monetary pentalties for any benefit plan that falls under the so called Red-Line provision. Also that there is a time frame for these benefit plans to reach a sufficent vested percentage. You see monetary contributions will not be a negotiated item, it will be a federal mandate and it will make our current contributions look like peanuts. [/QUOTE]
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Company and teamsters have a tenative agreement taking over Central States ?
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