Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe UPS Forum
UPS Retirement Topics
Has IBT/CS been a wise steward of our pension?
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="ok2bclever" data-source="post: 53012"><p>Sawman, </p><p> </p><p>I don't think I follow your thoughts regarding UPS contributed for us all the time we worked and so that makes us better than any of the other Teamsters. </p><p> </p><p>Every Teamster in the plan had a company contributing to the plan for every day they worked also. </p><p> </p><p>I keep hearing about how the problem is we are carrying all these retirees who's companies have gone out of business. </p><p> </p><p>Those companies that went out of business stopped contributing to the plan, but the employees affected didn't get any more credit towards retirement from that point on, so where do they deserve less, where have they not carried their weight in regards to the pension? </p><p> </p><p>All this talk about how UPS is putting sooooo much money in that we should get double seems strange as any retiree getting the same as promised to us must be in the same bracket (18) and that means their company is or was contributing a similar amount for the entire time they were getting pension credit. </p><p> </p><p>That means that the fund, mutually ran by 50% management representatives and 50% union representatives was and is not apparently getting enough contributions from the companies for the amount of benefits they are dispursing and/or they are not investing it well. </p><p> </p><p>According to the latest public statistics the Central States investment results compared to other pension funds has been within acceptable limits. </p><p> </p><p>That seems to say that either the company contributions are insufficient or the benefits are too high, either of which would be clearly within UPS's ability to forecast. </p><p> </p><p>The "carrying others" battle cry is popular, but it seems flawed to me.</p></blockquote><p></p>
[QUOTE="ok2bclever, post: 53012"] Sawman, I don't think I follow your thoughts regarding UPS contributed for us all the time we worked and so that makes us better than any of the other Teamsters. Every Teamster in the plan had a company contributing to the plan for every day they worked also. I keep hearing about how the problem is we are carrying all these retirees who's companies have gone out of business. Those companies that went out of business stopped contributing to the plan, but the employees affected didn't get any more credit towards retirement from that point on, so where do they deserve less, where have they not carried their weight in regards to the pension? All this talk about how UPS is putting sooooo much money in that we should get double seems strange as any retiree getting the same as promised to us must be in the same bracket (18) and that means their company is or was contributing a similar amount for the entire time they were getting pension credit. That means that the fund, mutually ran by 50% management representatives and 50% union representatives was and is not apparently getting enough contributions from the companies for the amount of benefits they are dispursing and/or they are not investing it well. According to the latest public statistics the Central States investment results compared to other pension funds has been within acceptable limits. That seems to say that either the company contributions are insufficient or the benefits are too high, either of which would be clearly within UPS's ability to forecast. The "carrying others" battle cry is popular, but it seems flawed to me. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Retirement Topics
Has IBT/CS been a wise steward of our pension?
Top