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Brown Cafe UPS Forum
UPS Union Issues
Don't Retire before the next contract-Pension Cuts loom
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<blockquote data-quote="WhatsUP" data-source="post: 2180043" data-attributes="member: 12139"><p>In dividing participants' benefits in this way, the Plan interpreted the statutory category governing a suspension of benefits directly attributable to a participant's service with UPS to include only those benefits directly attributable to service with UPS that are covered by the make-whole agreement (rather than all benefits directly attributable to service with UPS). This approach can be reconciled with the special provision of Kline-Miller described above because, in accordance with the regulations, no benefits attributable to service with UPS would be reduced more than any other benefits.18 However, the different treatment of two groups of participants with benefits attributable to service with UPS- a 40% cap for participants with benefits that are covered by the UPS make-whole agreement and a less protective 50% cap for participants with benefits that are not covered by the make-whole agreement- violates the requirement that the suspension of benefits be equitably distributed.</p></blockquote><p></p>
[QUOTE="WhatsUP, post: 2180043, member: 12139"] In dividing participants' benefits in this way, the Plan interpreted the statutory category governing a suspension of benefits directly attributable to a participant's service with UPS to include only those benefits directly attributable to service with UPS that are covered by the make-whole agreement (rather than all benefits directly attributable to service with UPS). This approach can be reconciled with the special provision of Kline-Miller described above because, in accordance with the regulations, no benefits attributable to service with UPS would be reduced more than any other benefits.18 However, the different treatment of two groups of participants with benefits attributable to service with UPS- a 40% cap for participants with benefits that are covered by the UPS make-whole agreement and a less protective 50% cap for participants with benefits that are not covered by the make-whole agreement- violates the requirement that the suspension of benefits be equitably distributed. [/QUOTE]
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Don't Retire before the next contract-Pension Cuts loom
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