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Brown Cafe UPS Forum
UPS Retirement Topics
Has IBT/CS been a wise steward of our pension?
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<blockquote data-quote="sawman" data-source="post: 52902"><p>wk, </p><p>While UPS controling the pension might be the lesser of two evils, we do not want that. We want the employees to have there own employee controled pension fund. </p><p>You ask how? </p><p>By us taking a two year pay freeze in order to allow the company to buy out of the Multi employer fund we will be able to demand some concessions, since the employees will be footing the bill so to speak. </p><p>Number one the company doesn't take control of our pension the employees do, and we roll it into the APWA fund and get full credit in that fund for years of service and past contributions. </p><p>Why would the company agree to this? </p><p>Because, (1) they don't have to foot the bill to get out of the multi-employer fund which is what they want. (2) Think of the billions the company will save once they are out, by only paying UPSers pensions and not all the other companies pension. </p><p>As I see it, It is a win win situation for the company and its employees. </p><p>Also by taking control of the funds and the money we have a way of protecting our retirees pensions. </p><p>All the money that UPS pays now will go into our employee only fund, and our fund only has to look after UPSERS. I don't think anyone will argue that UPS isn't putting enough in to more than cover UPS employees retirements.</p></blockquote><p></p>
[QUOTE="sawman, post: 52902"] wk, While UPS controling the pension might be the lesser of two evils, we do not want that. We want the employees to have there own employee controled pension fund. You ask how? By us taking a two year pay freeze in order to allow the company to buy out of the Multi employer fund we will be able to demand some concessions, since the employees will be footing the bill so to speak. Number one the company doesn't take control of our pension the employees do, and we roll it into the APWA fund and get full credit in that fund for years of service and past contributions. Why would the company agree to this? Because, (1) they don't have to foot the bill to get out of the multi-employer fund which is what they want. (2) Think of the billions the company will save once they are out, by only paying UPSers pensions and not all the other companies pension. As I see it, It is a win win situation for the company and its employees. Also by taking control of the funds and the money we have a way of protecting our retirees pensions. All the money that UPS pays now will go into our employee only fund, and our fund only has to look after UPSERS. I don't think anyone will argue that UPS isn't putting enough in to more than cover UPS employees retirements. [/QUOTE]
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