brownIEman
Well-Known Member
UPS asked to buy out of the multi-employer pension plans so UPS dollars would go only to UPS pensioners.
The ironic thing is, isn't that what happened anyways in the last contract, with UPS buying it's way out of Central States?
Precisely. The main difference is the price tag. In 97 UPS offered to infuse the pensions with $2B in cash. In 2008 UPS got out of central at least, for $6B.
Maybe UPS did not offer enough in 97, but the union did not make a counter on the pensions, they did not negotiate on that at all. They just told everyone UPS was trying to take control and subsequently destroy the pension. A lot of people believed it.